What to know about liability partnership copartnership?

Comments: 0 1 Post Date: 18th November 2017

Copartnerships Liability Partnership (LLP) – limited liability partnerships are very common form of running a business in Great Britain. How to register and run such business?

Registration procedures

LLP copartnership can be founded both by private individuals and subject having legal personality (minimum two business partners). In order to register a company you must fill in special registration form LLIN01. In this form you must indicate the name of your company, address and area of registered office. You must necessarily give names of partners and detail people who will be representing company before Companies House.

If you want to name your company with a word from banned list, you have to attach appropriate approval to the LLIN01 form. You can find information about restricted trade marks in Trade Marks Register base which is created by UK Intellectual Property Office. You have to send filled registration form to Companies House. When you fulfill formality you will get registration certificate and all data about just registered LLP company will go to public record.

What does registration certificate contain?

Companies House issues registration certificate which should contain few basic information about company – name, registration number, registration date and area in Great Britain where company will have its office. Effective legal articles predict that every copartnership should have correspondence office address. It is good to know, however, that this address do not have to be address where we run our business. You can state address of our accounting office which will receive your official correspondence.

Who can be LLP partner?

LLP copartnership can be founded by private individuals or legal entities. Regulations, however, foresee that the person who is under bankruptcy procedure at this moment cannot be a partner. This regulation concerns people who are partners of people who are under this procedure. Person who is banned from function as company director.
Copartnership has to be represented by at least two partners before Companies House. Regulations state that if company does not appoint representatives, all partners will be appoint automatically. Partners representing company are responsible for delivery a report to Companies House.