Once your LLP has started business, you must display a sign with its registered name at:
You must display the sign:
However, if 6 or more LLPs share the location, instead of having to display it continuously, each such LLP must only:
You must include your LLP's registered name in all forms of business correspondence and documents, including:
These rules apply whether the communications are on paper or in electronic format.
Every LLP must display its registered name on its websites. You don't need to include the LLP name on every page, but it must be displayed so it can be easily read.
On all your LLP's business letters, order forms and websites, you must display:
Anyone that you do business with may write to you asking for details of the business, including the:
If so, you must provide this information in writing within 5 working days.
You must disclose the name of each LLP member on all business letters that include any member's name other than in the text of the letter or as a signatory.
There is an exemption for large LLPs i.e. with over 20 members. These do not need to include the names of all the members in business documents as long as
Failure to comply with these disclosure requirements is a criminal offence that is punishable by a fine. The LLP could also be barred from making a claim if it is based on a contract they made with anyone who suffered financial loss as a result of their non-disclosure.
All LLPs are required to keep a register of Persons with Significant Control (PSCs), i.e. of the people who control the decision making of the LLP.
A PSC in relation to an LLP is a person who meets one or more of the following conditions in relation to that LLP:
1. Directly or indirectly holds the right to share in more than 25% of the surplus assets on winding up
2. Directly or indirectly has more than 25% of the voting rights on matters decided by the members
3. Directly or indirectly holds the right to appoint and remove a majority of those entitled to take part in the LLP's management
4. Has the right to exercise or actually exercises significant influence or control over the LLP (this is only relevant if none of the above conditions are satisfied).
5. Has the right to exercise or actually exercises significant influence or control over a trust or firm that is not a legal entity but which would satisfy any of the above 4 conditions.
The PSC register must state the following details in respect of the persons with significant control:
2. Service address
3. Country or part of the UK where they have their usual residence
5. Date of Birth
6. Usual residential address
7. Date on which the individual became registrable
8. Nature of the individual's control
9. Whether there are any restrictions on using or disclosing the individual's particulars.
If there is another legal entity that fulfils the requirements above (e.g. if the controlling vote is held by a company) and also is subject to requirements to have its own PSC register, that controlling company will be a Relevant Legal Entity (RLE). Its details must be included in the register:
1. Corporate or firm name
2. Registered or principal office
3. The legal form of the entity and the law governing it
4. If it is a company, the register of companies on which it is entered and registration number
5. The date on which it became registrable as having significant control
6. The nature of its control
The LLP must make reasonable efforts to identify all the PSCs and obtain their details to be registered. Unless the LLP already has this information, it must send a notice to any person it is aware may be a PSC. The notice must require the person to state whether they are a PSC and provide their details. The LLP must also send a notice to a PSC if there is a change in the information registered, requiring them to provide details of the change.
Every person receiving such a notice must reply to the LLP disclosing the required information within a month. Any person who knows they are a PSC must also give the LLP the registrable details even if they don't receive a notice from the LLP asking them to do so. PSCs have an obligation to update the LLP if any of their details change.
The PSC register can be kept at the LLP's registered office or in a central register at Companies' House. LLPs must update their register within 14 (calendar) days of receiving information about a change and file that information with the Registrar of Companies within a further 14 days.
It is a criminal offence for the LLP not to send notices to identify PSCs and not to obtain updated information from them if it is aware of a change. The LLP and its designated members could be fined or imprisoned.
The LLP could also be barred from making a claim if it is based on a contract they made with anyone who suffered financial loss as a result of their non-disclosure.
A PSC who fails to disclose the required information, or who intentionally or recklessly discloses misleading information could be fined or imprisoned.