Limited Partnerships
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Limited Partnerships
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MUST I REGISTER A LIMITED PARTNERSHIP?
Yes, you must. Until your partnership is registered, it will be regarded as a general partnership with both the
general and limited partners equally responsible for
any debts or obligations incurred.
HOW DO I REGISTER MY LIMITED PARTNERSHIP?
A limited partnership must be registered in accordance
with the provisions of the Limited Partnership Act
1907. To register you must deliver a statement, (form
LP5), signed by all the partners, to the Registrar at the
Companies House in that part of the United Kingdom in
which the principal place of business is situated or
proposed to be situated.
Partnerships whose principal place of business is situated
or proposed to be situated in England and Wales should
send their forms to the Cardiff Office listed at the end of
these notes; those whose principal place of
business is situated or proposed to be situated in
Scotland to the Edinburgh Office; and those whose
principal place of business is situated or proposed to be
situated in Northern Ireland to the Belfast Office.
The information to be supplied on the form should
contain the following -
*
the firm's name
2.
*
*
the general nature of the business
the address of the principal place of business
*the full name of each partner, listing general and
limited partners separately
*
*
*
*
the term if any for which the partnership is entered into
the date of its commencement
a statement that the partnership is limited and
the description of every partner as such
the sum contributed by each limited partner, and whether it is paid in cash or otherwise
If all these particulars are in order, a certificate of
registration will be issued by the Registrar, subject to
the acceptability of the name.
HOW MUCH DOES IT COST?
A registration fee of £2 is payable with the application
form. Cheques and postal orders should be made
payable to Companies House.
CAN AN OVERSEA LIMITED PARTNERSHIP REGISTER?
Not normally. The 1907 Limited Partnership Act
requires partnerships to register in that part of the
United Kingdom where their principal place of business
is situated or is proposed to be situated. An oversea
partnership usually has its principal place of business.
overseas, and would be precluded from registering on
those grounds.
3.