Limited Partnership LPUnited Kingdom
What it takes to form, own and run a limited partnership in United Kingdom, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
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You must have at least one ‘general partner’ and one ‘limited partner’.
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Each limited partner in a limited partnership that is not a private fund limited partnership shall, at the time of entering into the partnership, contribute to the partnership a sum or sums as capital or property valued at a stated amount
Form it
Who registers it
- Registry
- Formed without visiting
- Yes
- Formed online
- No
What it takes to form
- A notary
- Not required
- A resident director
- Does not apply
- Paying up the capital
- Each limited partner (other than in a private fund limited partnership) must contribute, at the time of entering into the partnership, a sum or sums as capital or property valued at a stated amount (s.4(2A)); the application for registration states the amount and whether it is paid in cash or another form (s.8A(2)(d)). A limited partner in a private fund limited partnership has no obligation to contribute (s.4(2B)).
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Each limited partner in a limited partnership that is not a private fund limited partnership shall, at the time of entering into the partnership, contribute to the partnership a sum or sums as capital or property valued at a stated amount
Own it
Who may own and run it
- Directors
- Does not apply
- Shareholders
- Does not apply
- Members
- At least 2
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You must have at least one ‘general partner’ and one ‘limited partner’.
- A local company secretary
- Does not apply
- A local registered agent
- Not required
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specify the intended address of the limited partnership’s registered office, which must be an appropriate address within the meaning given by section 8E(2)
Each year, at the registry
- Annual registry fee
- Not stated
The registry’s and the law’s own pages do not mention it.
- Accounts on the public record
- No
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There’s no requirement for a limited partnership to send accounts to us unless The Partnerships (Accounts) Regulations 2008 (SI 569/2008) as amended by the Companies and Partnerships (Accounts and Audit) Regulations 2013 apply.
- Audit for a small company
- Not required
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as would be required, if the partnership were a company, under Part 15 (accounts and reports) and Chapter 1 of Part 16 (requirement for audited accounts) of the Companies Act 2006
- Audit
- Not in our records
Important dates
When each obligation falls due, as the authority states it.
Not in our records No dates for the LP are in our records.
What is public
Not in our records What the register shows the public is not in our records for the LP.
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Through owners+1 regime
All partners pay tax on their share of the profits.
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All partners pay tax on their share of the profits.
Special regimes that may apply
- Freeport tax sites free zone
Companies incurring qualifying expenditure on plant, machinery or non-residential buildings in, or acquiring land in, a designated freeport tax site Capital Allowances Act 2001 s. 45O (plant and machinery) and s. 270BNA (structures and buildings); Finance Act 2003 s. 61A and Sch 6C (SDLT relief); sites designated by regulations under FA 2021
Whether a company qualifies depends on its activity and conditions set in each statute.
- CFC rules in United Kingdom
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
- Route
- Voluntary deregistration (Limited Partnerships Act 1907 s.26): a statement authenticated by or on behalf of each partner confirming that they want the limited partnership deregistered is delivered to the registrar, who deregisters it by publishing a notice in the Gazette.
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The registrar must deregister a limited partnership if a statement is delivered to the registrar which is authenticated by or on behalf of each partner confirming that they want the limited partnership to be deregistered.
- Statutory fee
- Not in our records
Every business in United Kingdom
VAT
- Standard rate
- 20%
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The standard VAT rate is 20%
- Other rates
- 5% Some goods and services, for example, children's car seats and home energy
- 0% Zero-rated goods and services, for example, most food and children's clothes
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Reduced rate 5% Some goods and services, for example, children’s car seats and home energy Zero rate 0% Zero-rated goods and services, for example, most food and children’s clothes
- Registration threshold
- GBP 90,000 · about €105,690
taxable turnover; also registration if taxable turnover is expected to go over the threshold in the next 30 days; 12 months rolling
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your total taxable turnover for the last 12 months goes over £90,000 (the VAT threshold)
- Voluntary registration
- Yes
A business with turnover below £90,000 may choose to register voluntarily.
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You can choose to register for VAT if your turnover is less than £90,000 (‘voluntary registration’).
- A foreign company
- Registers from its first taxable supply; no local representative required
A business based outside the UK must register regardless of taxable turnover if it supplies any goods or services to the UK, or expects to in the next 30 days. Appointing a tax representative is optional, though HMRC can direct some non-established taxable persons to appoint one.
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You must also register (regardless of taxable turnover) if all of the following are true: you’re based outside the UK
- Returns filed
- Quarterly
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You usually need to send a VAT Return to HMRC every 3 months.
- Tax authority
- Registration page read 2026-10-22
Portals and registers
- Business registerCompanies House
- Tax authorityHM Revenue & Customs (HMRC)
- Tax treatiesHM Revenue & Customs – Tax treaties and double taxation
Payment and banking services
4 services name United Kingdom on their own list: Paysera, Airwallex, Stripe, Revolut. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- Limited partnershipDerived our grouping, the same words in every country
- Name in law
- Limited Partnership (LP)
- ISO 20275 code
- ID30Secondary GLEIF, Entity Legal Forms code list