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Restructuring LLPs: The ownership issues affecting your law firm’s future structure

Aster Crawshaw highlights the ownership issues to consider when choosing between an LLP and limited company structure for your law firm   

13 June 2014

The first article in this series on new business structures for law firms following the UK’s LLP tax reforms set out the changes to the regime under the Finance Bill 2014. The Supreme Court’s recent decision in Clyde & Co LLP v Bates van Winklehof (in which the court decided that a member of an LLP could be a ‘worker’ for the purposes of whistleblower protections) has given rise to yet more debate about the merits of the LLP versus the limited company as the best vehicle for structuring professional service firms (PSFs).

This analysis is not straightforward and each law firm needs to consider its particular circumstances. For some, the limited company will be appropriate, for others it will be the LLP. Some still find that a general partnership works best for them. I...

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