An LLP combines limited liability with partnership taxation. The LLP itself pays no Corporation Tax. Instead, each member reports their share of the profit on their own Self Assessment return. Members often assume the LLP handles tax centrally the way a limited company does, then discover each partner carries their own filing responsibility.
We prepare LLP accounts, calculate each member’s profit share, and manage every member’s Self Assessment return alongside the LLP’s own Companies House filings. Accurate bookkeeping throughout the year keeps the profit share calculation straightforward at year end.
Because an LLP is tax transparent, HMRC does not accept one return covering the whole partnership the way Corporation Tax works for a limited company. Every member needs their own correctly calculated profit share and their own Self Assessment filing by 31 January. A missed member return creates a personal HMRC penalty for that individual, not for the LLP. This is exactly why profit shares need calculating early, before each member’s own deadline arrives. We calculate every member’s share as soon as the LLP accounts are ready, not at the last minute.
This service is built for LLPs based in or around Slough, and for the individual members within them.
We prepare annual accounts to Companies House standards and file them ahead of your deadline.
We calculate each member’s share of profit according to your LLP agreement.
We prepare and file each member’s individual return, reflecting their correct profit share.
We file the LLP’s annual confirmation statement with Companies House.
No, an LLP is tax transparent. Each member pays Income Tax on their own share of the profit through Self Assessment.
HMRC charges that individual member a penalty, starting at £100, not the LLP as a whole.
£100 for digital registration, the same fee as a limited company, following the February 2026 fee increase.
Yes, we calculate profit shares based on the exact period each member was part of the LLP.
Our team is part of Direct Assist Accountants' ACCA-regulated practice in Slough
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