Limited liability partnership and Personal allowance: Difference between pages

Revision as of 17:16, 18 June 2013

UK Tax. The amount of income that an indvidual can receive each year without having to pay income tax on it.

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-(LLP).
+''UK Tax''.
+The amount of income that an indvidual can receive each year without having to pay income tax on it.
-A limited liability partnership shares many of the features of an unlimited partnership - but it also offers reduced personal responsibility to the partners for the business debts of the partnership.
-Unlike an unlimited partnership, the LLP itself is responsible for any debts that it runs up, not the individual partners.
-LLPs were first allowed in law in the UK under the Limited Liability Partnerships Act 2000.
 == See also ==
-* [[Limited liability]]
+* [[Annual allowance]]
-* [[Partnership]]
+* [[Annual exempt amount]]
+* [[Income Tax]]
-[[Category:Compliance_and_audit]]
+[[Category:Taxation]]