Answers
How is an LLP taxed?, The LLP pays no tax itself. Profit is allocated to members under the agreement and each pays income tax and National Insurance personally on their share, drawn or not.
Do LLP accounts go on the public register?, Yes. LLPs file accounts at Companies House within nine months of the period end, with the same late filing penalties as a company.
What is the SA800?, The partnership tax return. It reports the LLP's profit and how it was divided, and each member's own return must match the partnership statement exactly.
When do the salaried member rules bite?, Only when all three conditions are met: at least 80% disguised salary, no significant influence over the LLP as a whole, and capital contribution under 25% of expected reward. Break one and the member stays self-employed.
Can a limited company be an LLP member?, Yes, and it is common where profit is retained. Mixed member anti-avoidance rules can reallocate profit back to individuals if the arrangement is tax-driven rather than commercial.
Is an LLP better than a limited company for a professional firm?, If all profit is distributed each year, usually yes for simplicity and flexible profit shares. If profit is retained or you want investment and share options, the company is normally better.