LLP Partner - Tax Efficient Income

I'm currently a sole trader, soon to open an LLP and also become a partner. My LLP and Sole Trader are to be two separate business types not connected in any way.

How do I go about paying myself as a partner in an LLP? What would be the most (income) tax efficient way of paying myself a regular monthly wage? Would it make sense to bill the LLP as a sole trader, or is this not necessary? 

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Perhaps you have not understood what a partner is

Chris Smail |
Chris Smail's picture

Have you taken advice?

Kent accountant |
Kent accountant's picture

You'll be taxed on your share of profits from LLP

bookmarklee |
bookmarklee's picture