Limited Liability Partnerships (LLPs)
LLP Accounting – Clear Finances for You and Your Members
Running an LLP means keeping the business’s finances clear while recognising the interests and responsibilities of its members.
Merranti Accounting helps with accounts, tax reporting, members’ capital records and financial planning. We can agree support for a new LLP or an established business.
Annual Accounts and Companies House
An LLP must prepare and file annual accounts with Companies House. We can prepare the accounts from your records and explain the results, with the work and filing responsibilities confirmed in your agreed service.
Partnership Tax and Members’ Returns
LLPs carrying on a business with a view to profit are generally treated as partnerships for tax. Members are normally taxed on their allocated profit share, rather than simply the cash they withdraw. We can help with the partnership return and members’ returns where agreed, taking account of individual or corporate membership and any special rules.
Members’ Capital and Profit Shares
We help track members’ contributions, drawings and capital balances, and prepare profit allocations in line with your LLP agreement. Clear records make it easier for members to understand their position.
Cash Flow and Financial Reporting
Budgets, cash flow forecasts and management reports help members plan distributions and business spending. We can discuss the reporting you need to monitor performance and make decisions together.
Keep Track of Filing Obligations
LLPs also have confirmation statement and company information reporting requirements. Designated members have additional responsibilities for records and filings. We can help manage the agreed work and explain what information and approvals we need from you.
Bookkeeping, VAT and Payroll
We can combine your LLP accounts with bookkeeping, VAT support where applicable and payroll for employees. Your quotation confirms which services and member tax returns are included.
LLP Accounting Support
Bring your LLP’s accounts, member records and agreed tax work together.
- Annual accounts preparation
- Partnership tax reporting
- Members’ capital and profit allocations
- Cash flow and management reporting
Tell us about your LLP and the support you and your members need.
Discuss your LLP accountsFixed Fees
We agree the scope and fee for your accounting services from the outset, so you know what is included. Ask about monthly payment arrangements to help spread the cost.
Dedicated Accountant
Having a dedicated accountant means you don’t have to start the conversation again every time. Your accountant gets to know the LLP and its members, helping you discuss questions with someone who understands your business.
Cloud Accounting
Whether your LLP uses Excel, QuickBooks, Xero or another system, we can work with your records and discuss improvements where useful. We also provide setup and training for cloud accounting software.
Business Advice
We work with you to think ahead, using your figures to support discussions about growth, spending and future plans. Advice and any additional planning work are agreed around your LLP’s needs.
“I have had an excellent experience working with Jason. I am so thankful for his financial advice, especially as I was struggling to decide between self-employment and a permanent role. Jason was patient, kind, and incredibly thorough in guiding me through my options. His clear advice made a complicated decision much easier. I highly recommend Jason to anyone looking for professional and thoughtful financial guidance.”
Learn more about Merranti on Merranti Insights
About our LLP accounting service
Give every member a clearer view of the numbers.
Start with a conversation about your LLP, how you currently keep your records and what you need from your accountant. We can explain the next steps and agree the services that fit your business.
Let’s talk and see how we can help you.
Talk about your LLP
