Heard from a friend as we were discussing PLCs that an acquaintance of his had his accountant recommend changing his PLC into an LLP. Presumably the Limited Liability Partnership is with his wife. And he just finished going through the process to change it.
This is the first I have heard of LLP. Obviously there must be some advantage an LLP might have over a PLC in that person's case, but I have no idea what. Is the tax liability different?
This is the first I have heard of LLP. Obviously there must be some advantage an LLP might have over a PLC in that person's case, but I have no idea what. Is the tax liability different?
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