Limited Liability Partnership
A Limited Liability Partnership (LLP) shares many of the features of a normal partnership - but it also offers reduced personal responsibility
for business debts.
Unlike members of ordinary partnerships, the LLP itself is responsible for any debts that it runs up, not the individual partner.
Setting up a limited liability partnership brings many obligations. We recommend that you take advice from Penn Accounts or our sister law practice,
Penn Legal , as to whether a limited liability partnership is the best way for you to run your business.