LLP Accounts

LLP accounts provide a thorough insight into a Limited Liability Partnership's business operations and function as comprehensive financial statements. Important financial components including income, expenses, assets, liabilities, and partners' capital are included in these reports. LLP accounts are a requirement for regulatory compliance; they are annually filed to Companies House by a UK-registered tax agent like Affotax.

With Affotax's LLP Accounts Service, streamline your financial operations and cut costs associated with legal matters. Your LLP accounts will be carefully prepared by our team of committed partnership attorneys, which will expedite the online filing procedure to Companies House. Acting as your tax agent in the UK, we provide an affordable solution that enables you to take advantage of limited liability partnerships' advantages and effectively meet your legal requirements. Discover the advantages of using our service and easily handle the challenges of submitting LLP accounts.


LLP Accounts (Basic Package)

Every UK LLP must prepare accounts that report on the performance and activities of the LLP during the financial year. Simplify your LLP's financial reporting with our LLP basic package, designed for businesses seeking basic filing. This package is ideal for companies having a Turnover < £25K.

Package includes:

  • LLP annual accounts preparation
  • Submission to Companies House

£299

LLP Accounts (Standard Package)

Every UK LLP must prepare accounts that report on the performance and activities of the LLP during the financial year. Enhance your LLP's financial management with a seamless approach to accounting and tax optimisation. This package is ideal for companies having a Turnover > £25K.

Package includes:

  • LLP annual accounts preparation
  • Submission to Companies House
  • Tax advisory

£399

LLP Accounts (Premium Package)

Every UK LLP must prepare accounts and submit them to Companies House. It must also submit the partnership tax return (SA800) to HMRC. Unlock our Premium package with personalised consultation. It is tailored for businesses requiring a comprehensive guide to preparing and filing accounts and the partnership tax return with HMRC.

Package includes:

  • LLP annual accounts preparation
  • Submission to Companies House
  • LLP Tax Return SA800
  • Submission to HMRC

£599

Affotax's Remarkable Advantages of Limited Liability Partnership:

📊 Financial Clarity: Gain a clear understanding of your partnership's financial performance by managing and organising your LLP accounts with ease.

🔒 Precision in Data Handling: Take advantage of professional supervision to guarantee the precision and error-free status of your LLP accounts, and provide an accurate depiction of your partnership's financial situation.

📋 Regulatory Assurance: Make sure your LLP accounts are meticulously adhered to and compliant by navigating accounting standards and regulations with experience.

🗣️ Personalised Assistance: Throughout the LLP accounts preparation process, contact our committed staff for individualised guidance, assuring a seamless experience.

⏱️ Strategic Resource Optimisation: By outsourcing your LLP accounts, you may maximise your resources and save time and money for your primary business goals.

Elevate your financial reporting with our LLP accounts services. Experience peace of mind and gain valuable financial insights by choosing our LLP Accounts services for your UK LLP partnership. 🚀📈

FAQs:

1. What are LLP Accounts?

Limited Liability Partnership (LLP) Accounts are financial statements that provide an overview of an LLP's financial performance, including income, expenses, assets, and liabilities. LLPs are legally required to prepare and submit these accounts to comply with regulatory standards.


2. Who needs to file LLP Accounts? 

All LLPs registered in the UK are required to prepare and file LLP Accounts with Companies House. This includes LLPs engaged in trading activities, regardless of their size or turnover.

3. When are LLP Accounts due for submission? 

LLP Accounts must be submitted annually to Companies House within 9 months of the end of the financial year. Penalties may apply if this deadline is missed.

4. What information is included in LLP Accounts? 

LLP Accounts typically include the balance sheet, profit and loss statement, notes to the financial statements, and a Partner's Capital Statement. These documents provide a comprehensive view of the LLP's financial health.

5. Do LLP Accounts require an audit? 

LLPs that meet certain criteria, such as exceeding specified turnover or asset thresholds, may be required to undergo a statutory audit. However, smaller LLPs may qualify for audit exemption if they meet specific criteria.

6. What is a Partner's Capital Statement? 

A Partner's Capital Statement is a document that outlines each partner's capital contribution, withdrawals, and share of profits or losses in the LLP. It helps partners understand their financial position within the LLP.

7. Can LLP Accounts be prepared in-house? 

Yes, LLP Accounts can be prepared in-house; however, this process may require an understanding of accounting principles and regulatory requirements. Many businesses choose to seek professional assistance to ensure accuracy and compliance.

8. What happens if LLP Accounts are not filed on time? 

Late submission of LLP Accounts may result in financial penalties imposed by Companies House. These penalties can increase over time, making it essential to adhere to the filing deadline.

9. How can your LLP Accounts service benefit my business? 

Our LLP Accounts service offers a hassle-free solution to meet your regulatory obligations. We handle the preparation and submission. We ensure compliance with all necessary regulations, allowing you to focus on your core business activities.

10. How do I get started with your LLP Accounts service?

To get started, simply choose the LLP Accounts package that best suits your needs and follow the instructions to purchase. Our experienced team will guide you through the process, ensuring timely and accurate submission.

For personalised guidance or additional questions about LLP Accounts, please don't hesitate to contact us. We are available to help you at every step.

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