In class we were placed in assemblages of 3-4. My group was of 3, me, Maryam and Doyoad and we give the topic of ` contain LLPS been taken up by many professional (unlimited) federation? Why is so? In the united kingdom, LLPs re governed by the limited liability partnership act 2000. This is a corporate body that has legal free lance rights to its members. This act was introduced due to the concide within the Inland Revenue evaluate year because of the way that LLPs ar taxed. A limited liability partnership is a partnership when some or completely partners have limited liability. In this LLP on of the partners is not liable for the former(a)s partners misconduct. This is the difference of an unlimited partnership. Unlike a corporate shareholder, LLP allows the partners to move within the company to a greater extent, managing the business directly. However the act does have regulations which apply the provisions of the company law, which provide safeguards for those dealing with LLPs. These include provisions for public disclosure of financial information nigh limited liability partnerships.
We presented the information we gathered in a slideshow presentation which had around 8 slides, I had slides 5-6-7 which were about the advantages and disadvantages of LLP and these advantages include,
* Partnerships are relatively easy to establish
* More than 1 owner, they tail assembly raise more specie, both because two or more partners may be able to contribute more funds and because their borrowing capacity may be greater.
* Partnerships provide lesson support and will allow for more creative brainstorming.
Disadvantages include;
* Business partners are jointly and individually liable for the actions of the other partner.
* Profits must be shared with others. You have to fix on how you...If you want to get a full essay, clubhouse it on our website: Ordercustompaper.com
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