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What is the difference between a limited liability partnership (LLP) and a limited company (Ltd)?
What is the difference between a limited liability partnership (LLP) and a limited company (Ltd)?
Ruben 🧑 avatar
Written by Ruben 🧑
Updated over 2 months ago

An LLP has a different structure to an LTD. While an LTD has directors & shareholders an LLP has members & no shareholders. Members of an LLP file self-assessment returns with HMRC individually while LTDs file for corporation tax on behalf of the company not the individual directors or shareholders. LLPs are often used by professional service firms like Lawyers or doctors. πŸ‘₯

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