Private Limited by Shares LLP
Can be registered, owned and managed by just one individual – a sole person acting as both the director and shareholder A minimum of two members are required to set up an LLP.
The liability of shareholders or guarantors is limited to the amount paid or unpaid on their shares, or the amount of their guarantees. The liability of LLP members is limited to the amount each member guarantees to pay if the business runs into financial difficulty or is wound up.
A limited company can receive loans and capital investment from outside investors. An LLP can only receive loan capital. It cannot offer equity shares in the business to non-LLP members.
Limited companies pay corporation tax and capital gains tax on all taxable income. LLP members pay income tax, National Insurance and capital gains tax on all taxable income. The LLP itself has no tax liability.
You need to inform the Secretary company for each time changing of director, shareholder. It is easier to change the internal management structure and distribution of profits in an LLP.

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