An LLP has lighter compliance than a company, but it is not compliance-free. Two annual filings with the Registrar are mandatory for every LLP — even one that had no business during the year.
Form 11 — Annual Return
Form 11 reports the LLP's partners, their contributions and any changes during the year. It is due within 60 days of the end of the financial year — that is, by 30 May.
Form 8 — Statement of Account & Solvency
Form 8 contains the LLP's statement of accounts and a declaration of solvency by the designated partners. It is due by 30 October each year.
Audit
An LLP's accounts must be audited only if its turnover or partners' contribution exceeds the prescribed limits. Below those limits, the accounts are still prepared and filed, but without a statutory audit.
Late filing is expensive
Late filing attracts an additional fee for every day of delay, which can quickly exceed the cost of filing on time. Continued non-filing can also lead to penalties on the LLP and its designated partners.
Other LLP events
- Changes in partners or designated partners — Form 4, within 30 days.
- Changes to the LLP agreement — Form 3, within 30 days.
- Change of registered office — the prescribed form within the prescribed time.
We handle LLP compliance as part of our management service.
This article is general information, not legal advice. Rules and due dates change — please confirm the current position before acting, or ask us.