LLPs

limited liability partnership

FAQS

Here you can find some of the common questions regarding limited liability partnerships (LLPs). If you have any more, please don’t hesitate to get in touch with us.

mortgages

Mortgages

Partners in LLPs are normally taxed as if they are self-employed, which can mean that they are also assessed as self-employed for the purposes of mortgage applications. The lending criteria varies from lender to lender so it is important that you use a competent broker to assist with your mortgage application. Your broker will need to speak to us so we can explain how you are paid and ensure that the correct information is submitted to the lender.

expenses, partnerships

EXPENSES

In addition to motor costs, other travel costs such as parking fees, tolls and congestion charges, train and bus travel can also be claimed if these relate to business trips. Food and drink or subsistence costs can also be claimed where they are incurred through the course of normal business.

For example, if you make a business journey outside of your regular working pattern or if you regularly work in different locations then these costs are usually considered allowable expenses.

Equally, where you undertake a business trip which requires you to stay away from home, the accommodation and reasonable subsistence costs will usually be tax deductible.

LLP Documentation

When you join a Limited Liability Partnership (LLP), there are a few documents that need to be signed in order to make it official. Below, we have detailed each document in plain English so you can gain an understanding of what it is you’re signing up for. We’ve included links to each of the HMRC …

LLP Documentation Read More »

ben crampin

Partner

Ben’s been here pretty much since the get-go and, as such, has been instrumental in growing the business into what it is today.
 
He’s passionate about, in his words, ‘helping people and businesses that are just constantly being taken advantage of’ by providing affordable advice and support with an eye to ‘levelling the playing field’.
 
Ben looks forward to the day when automation will, once and for all, fumigate the fear and confusion caused by oppressive bureaucracy and strongly believes that ‘technology holds the solutions to the problems we’re trying to solve’.
 
Furthermore, he can see that technology will, in time, provide the scalability required to help a theoretically limitless number of SMEs survive and thrive against the odds.
Ben doesn’t think much of government agencies and he doesn’t suffer fools; two points that aren’t always mutually exclusive.