Scottish limited partnerships (SLPs)

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Scottish limited partnerships (SLPs)

Secure your Scottish LP

Scottish Limited Partnerships (SLPs) offer separate legal personality while retaining tax transparency, making them popular for investment funds, property syndicates, and international joint ventures. Imperium handles SLP formation at Companies House Edinburgh, prepares the partnership agreement, and registers People with Significant Control. We can advise on naming conventions, general-partner liability caps, and cross-border VAT registration, ensuring the structure is live and compliant from day one.

Ongoing management is equally rigorous. We can maintain statutory registers and produce annual accounts. Where foreign banks request “good standing” certificates, we liaise with the Registrar and can provide notarised copies.

Imperium – your perfect partner

Operating an SLP means navigating Scottish law, UK tax and investor expectations. Imperium turns SLP governance into a transparent, penalty-free routine.

Typical client scenarios

Property syndicates requiring separate legal personality and tax transparency.
Private-equity funds structuring carried interest through an SLP vehicle.
International joint ventures wanting a neutral, well-regulated European base.

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Frequently asked questions

How does an SLP differ from an LLP?

An SLP has at least one general partner with unlimited liability and one limited partner whose liability is capped. It has separate legal personality under Scottish law, yet remains tax-transparent.

Are SLP accounts public?

SLPs do not have to submit accounts.

What PSC information must be filed?

SLPs must identify individuals or legal entities with significant control – usually anyone holding more than 25% partnership interest or voting rights. We collect evidence and file updates within statutory time frames.

How are foreign partners taxed?

UK-source income is taxed in the UK, while non-UK income is usually taxed where the partner is resident. We prepare UK partnership statements and liaise with overseas advisers to allocate profits correctly. If there is no UK involvement an SLP can seek exemption from the submission of UK tax returns.

Can an SLP act as a fund vehicle?

Yes. Many private-equity and property funds use SLPs.

How long does SLP formation take?

Once documents are signed, Companies House usually registers the SLP within a week. Imperium completes forms LP5 and PSC07, and handles courier delivery too if needed.

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