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Limited companies versus LLPs

Shared from Tax Insider: Limited companies versus LLPs
By Lee Sharpe, April 2024

Lee Sharpe compares and contrasts the treatment of limited companies and limited liability partnerships. 

The table below takes a bird’s eye view of the approach to taxing companies versus taxing limited liability partnerships (LLPs): 

Limited companies (Ltd) 


Treated as body corporate 






Entity subject to corporation tax (at 19%-25%),  

corporation tax returns, etc. 

Applies to trading or investment profits or... 




…corporation tax on capital gains (at 19%-25%), 

irrespective of whether residential property 

Limited liability partnerships (LLPs) 


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