Limited liability partnerships and UK real estate

The Limited Liability Partnerships Act 2000 created a new form of legal entity known as a limited liability partnership (LLP). An LLP has unlimited legal capacity and can be used to carry on any form of lawful business including dealing with, development of and investment in UK real estate.

Its most attractive feature as a vehicle for the holding of UK real estate is its ability to combine the flexibility and tax transparency of a partnership with limited liability for its members.

Read Wragge & Co's analysis for a more in-depth look at the new legal entity.