Changing partnership to Ltd or LLP?
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sanford
Apprentice
Joined: 17 Dec 2005
Posts: 4
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 Posted: 01/23/08 - 09:05 Post subject: |
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| Hi. My business partner of many years and I have once again had a business idea. We are both creative souls and the company will engage in creative activities. Do we set up a Ltd or an LLP company? What are the differences and what do you advise us? Thanks very much for your comments. |
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robinet
Apprentice
Joined: 15 Oct 2007
Posts: 7
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| Posted: 02/22/08 - 02:53 Post subject: |
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For "creative souls" you are not very creative... How about looking up the definition of "Ltd" and "LLP" on the website of the HM Revenue and Customs? They have all kinds of useful information on there!  An LLP functions like a traditional partnerhip but, like a Ltd it has limited liabilty. Good luck! |
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