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We support you and your business at every stage with expert advice that delivers outstanding results.

We provide accounting, tax and business advice to individuals, family, and owner-managed businesses from across our offices in Leeds, Manchester, Newcastle and York.

Garbutt & Elliott became a Limited Liability Partnership (LLP) on 1 July 2009

Craig Manson - Director Tel: 01904 464100 Email: cmanson@garbutt-elliott.co.uk

As business advisors we help our clients decide on the best and most appropriate trading structure for their businesses on a daily basis.  Therefore, it makes sense to consider our own structure from time to time and following a thorough review of all the benefits and practical issues involved we decided to change from a Limited Company to a Limited Liability Partnership structure from 1st July 2009.  

Why did we change to an LLP?

LLPs have been around for some time and I have been regularly setting up this structure mostly (but by no means exclusively) for professional practices for several years now.

One advantage is that an LLP gives limited liability protection to a partnership comparable with that afforded by a limited company – which can certainly make it easier for some of our clients to sleep at night!

An LLP can also be a very flexible structure from a corporate governance point of view, making it relatively straightforward to plan succession and bring in new participants as and when required, but perhaps the key advantage from our point of view here at Garbutt & Elliott is that we have devised some extremely effective and favourable tax planning structures that dovetail with the LLP format to give considerable tax savings in the right circumstances.

We have been successfully helping other partnerships that we advise to save a great deal of tax in this way - and we decided to take our own good advice! As a firm we have committed to re-investing the tax savings back into the business for the foreseeable future to help us to continue to grow our business and develop and attract the best quality people during these difficult trading times and most importantly make sure our clients continue to get the best possible advice and service.

As with any other planning opportunities like this, good advice is absolutely essential and we have considerable expertise to offer in setting up practical and highly tax efficient structures for both LLPs and Limited Companies.

If you would like a review of your current trading structure then please do contact me.  I would be delighted to speak with you.