Legal Professions on Limited Liability Partnership (LLP) -Complications and Implications

Description

The Legal Profession Bill 2019 allows the legal profession to set up LLP in carrying on the business to meet the global advancement and economic divergence. On one hand, LLP offers tremendous business expansion with the separate legal entity of the partners but on another hand it entails many complications on its applications.

This is the first of its kind workshop to completely analyze Part VI of the LLP law within the Legal Profession Bill 2019 highlighting the implications and its complications. The core emergence of LLP Act 2012 with the LLP aspects of the Legal Profession Bill 2019 will be completely discussed.

The course content would be:

• The distinction between legal profession on sole proprietor, partnership and LLP;
• Incorporation of LLP;
• Conversion from conventional partnership to LLP – the noting points;
• LLP agreement and its implications on LLP;
• The taxation aspects of LLP and its partners under the LLP Act 2012;
• Admission of partners and retirement of partners –legal implications and tax complications; and,
• Winding up of LLP – the tax noting points