Partnership: Making your mind up
The question of whether or not to convert to LLP status is climbing up the agenda. Karen Liddell considers
Although firms have only been able to register as limited liability partnerships (LLP) since April 2001 there are now 5,800 such partnerships (or thereabouts) registered in the UK. Despite this high number there are relatively few law firms currently practising through the medium of an LLP. According to the Law Society, 48 firms had converted to LLP by December last year, and that figure has virtually doubled this year.
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