Online Accountants for Limited Liability Partnership (LLP)

The fundamental difference lies in how profits are taxed. LLPs benefit from "transparent taxation"—the partnership itself doesn't pay Corporation Tax. Instead, profits flow through to individual partners who pay Income Tax and National Insurance on their share through self-assessment returns.

Limited companies pay Corporation Tax on profits (currently 19-25%), and directors then pay Income Tax and NIC on any salary or dividends they take. LLPs also have different filing requirements—they must file accounts with both Companies House and a partnership tax return (SA800) with HMRC, plus individual returns for each partner.

This structure offers flexibility but requires specialist knowledge to optimise profit allocations and ensure compliance across all filing obligations.

Our LLP accounting packages start from £150+VAT per month for straightforward partnerships with simple bookkeeping needs. This includes annual accounts, partnership tax returns, and support for up to 3 partners' individual returns.

For larger or more complex LLPs—those with multiple income streams, international transactions, or more than 5 partners—fees typically range from £300-£600+VAT per month depending on requirements.

We offer fixed monthly pricing so you can budget confidently without worrying about unexpected bills. All packages include unlimited email and phone support with your dedicated accountant.

Absolutely. Even a two-partner LLP has significant compliance obligations. You must file annual accounts with Companies House (with potential £1,500+ penalties for late filing), submit a partnership tax return to HMRC, complete two individual self-assessment returns, and maintain accurate records that satisfy both organisations.

Beyond compliance, an experienced LLP accountant can help you structure profit allocations tax-efficiently, claim allowable expenses you might miss, and advise on pension contributions that reduce your tax bills legitimately.

Most two-partner LLPs find that the tax savings and peace of mind far exceed the cost of professional accounting services. Plus, you'll have more time to focus on revenue-generating activities rather than paperwork.

Yes, we regularly assist partnerships with converting to LLP status. The process involves registering the new LLP with Companies House, transferring assets and liabilities, notifying HMRC of the change, and ensuring all contracts, bank accounts, and registrations are updated.

There are important tax considerations to address—particularly around capital gains and potential trading stock reliefs. We'll work with you to ensure the conversion is tax-efficient and compliant with all regulations.

The typical conversion timeline is 4-6 weeks from initial consultation to completion. We handle all the paperwork whilst you continue running your business as usual.

We primarily work with Xero and QuickBooks Online—both industry-leading cloud accounting platforms. These integrate seamlessly with your bank accounts, provide real-time financial reporting, and make collaboration between partners and accountants effortless.

The software costs are included in our monthly packages, and we provide training to ensure you're comfortable navigating the platform. You'll have 24/7 access to view your accounts, generate reports, and track financial performance.

If you're already using other software like Sage or FreeAgent, we can work with those systems too. Our priority is making the technology work for you, not forcing you onto specific platforms.

Companies House Accounts: 9 months after your LLP's financial year-end. For example, if your year-end is 31st March, accounts are due by 31st December.

Partnership Tax Return (SA800): 31st January following the end of the tax year (which runs 6th April to 5th April). So for the 2024/25 tax year, the deadline is 31st January 2026.

Individual Partner Returns: Also 31st January following the tax year-end, along with any tax payments due.

Confirmation Statement: At least once every 12 months from your last filing.

We track all these deadlines automatically and ensure everything is filed on time—you'll never have to worry about penalties.

Profit allocations in an LLP are defined by your LLP agreement—the legal document governing how partners share profits and losses. This can be as simple as equal splits or complex formulas based on seniority, capital contributions, or performance metrics.

From a tax perspective, HMRC scrutinises profit allocations under the "settlements legislation" to ensure they're commercially justified and not simply tax avoidance. We help you structure allocations that are both tax-efficient and defensible.

Optimisation opportunities include allocating profits to partners in lower tax brackets (where justified), timing profit distributions strategically, and utilising salary elements where appropriate for National Insurance planning.

We review your profit-sharing arrangements annually and recommend adjustments that could reduce your collective tax burden whilst remaining fully compliant.

Partner changes mid-year create additional complexity that we manage seamlessly. When a partner joins or leaves, we must calculate profit allocations pro-rata based on the period each person was a member.

For Companies House, you'll need to file form LL AP01 (appointment) or LL AP04 (cessation) within 14 days of the change. We handle these filings and update your confirmation statement accordingly.

Tax-wise, the departing partner's final return must include their share of profits up to the cessation date. The incoming partner becomes liable for profits from their admission date forward. We prepare all necessary computations and ensure everyone understands their tax positions.

We also advise on potential tax implications—particularly if a departing partner is selling their interest or if there are capital account balances to settle.