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Where Taxpayers and Advisers Meet

Does LLP income stay in the company tax free

coslychac
Posts:1
Joined:Sun Feb 19, 2017 1:15 pm
Does LLP income stay in the company tax free

Postby coslychac » Sun Feb 19, 2017 1:37 pm

I'm currently self employed and pay tax on all my income. I heard that in LLP income stays in the company tax free and it can be invested in assets and I can only invoice what is needed to survive. Is this correct? Btw, most of my income is from the US, but also from all over.

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Does LLP income stay in the company tax free

Postby maths » Tue Feb 21, 2017 9:45 pm

I'm afraid your post is a little confusing (at least to me).

In short, an LLP for tax purposes is treated as transparent.


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