How to Form a Limited Partnership (LP) and Limited Liability Partnership (LLP) in the UK (2026)

UK LP (Limited Partnership Act 1907): at least one general partner (unlimited liability) and one limited partner (liability capped at their contribution). Used in private equity funds and property vehicles. UK LLP (Limited Liability Partnerships Act 2000): all partners have limited liability; taxed as a partnership (pass-through to partners). Used in professional services (law firms, accountancy practices). Formation: £40 at Companies House. Transparency: LLP's accounts are publicly filed. This article covers both structures and when to use each.