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Growth structure: Choose the right business structure under the UK LLP tax reforms

Strategic growth, not tax treatment, should be central to choosing your firm’s business structure under the UK LLP tax reforms, says Mark Jones

22 April 2014

As my partner Jonathan Cheney wrote in the first article in this series on business structures for law firms in light of HM Revenue & Customs’ review of taxation of UK partnerships and LLPs, before considering the form of business vehicle that is appropriate for your business, it is important to be clear about your strategy.

Seneca the Younger said almost two thousand years ago: “Our plans miscarry because they have no aim. When a man does not know what harbour he is making for, no wind is the right wind.”

In other words, clarity of strategy enables clarity of execution. Seneca’s words are as relevant now as they were then. Business is all about strategy and execution, and both are key. The legal structure of the bu...

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