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  • I need to confirm one thing, can an LLP be formed with 4 members where 3 would be holding 33% stake each and the fourth stakeholder would be holding only 1% stake? Would it affect the LLP public profile from point of view of individual protection than just forming an LLC with every member having 33.3% stake?
  • I have been a partner into an LLP which is being formed 2 year ago. We are providing the consultancy to high profile people as to how they should they present themself to the public. Now LLP wants me to retire as i am not able to continue due to health issues. i am fine with the decision of the other partners as they have also agreed to provide me the suitable compensation and a proper notice period. is there any obligation on part of the remaining Members to ask me to sign a Compromise Agreement or not?
  • I am one of the partners in a four partners LLP (my profile is of an advisor here), one partner is an offshore public company which do not have any permanent establishment in UK but only a loan investment in the partnership. I want to know what tax if any should be withheld on any payments to this company.
  • Bob a partner in an LLP has agreed to a capital contribution of £18,000 and is being paid a Guaranteed Distribution of £65,000 per annum. In past the LLP has incurred huge losses the major part of which has been share by a corporate partner B which is a public company. A is being paid tax free amount of £65,000 and he wonders how he is going to disclose this income on his Personal Tax return and what are the Tax and NI consequences.
  • In recent past a team of 7 doctor's has been sued for of a recent operation which went wrong. Because of the poor judgment of one of the doctor the patient died. Although that doctor was solely involved the lawsuit names the entire practice as a defendant. All the doctors were working as the partners of an LLP. Now other 6 doctors are worried as to what all factors will be important in determining the exact liability (if any) of these six doctors, what would happen to their public profile, would they be able to practice in future or not?

 

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