Limited liability partnerships

Limited liability partnerships

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Trying to understand the basic principle about LLP’s and the benefits of setting up.

My understanding is that, the partners liability is limited, which is a clear benefit. However for taxation it is the same basis as ‘normal’ self employed partners.  I am unclear about whether dividends are paid?  Are threir any tax breaks to be had.

Thanks in advance

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By ACDWebb
20th May 2011 08:28

Treated the same as a partnership for tax

Divs not relevant

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By Monsoon
20th May 2011 09:11

I asked about this

And got some good answers :)

 

https://www.accountingweb.co.uk/anyanswers/llps-nutshell/486298

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