Limited liability partnerships are a creature of the Limited Liability Partnerships Act 2000.

Designed to combine the flexibility of a partnership with limited liability for its members, various provisions of the Companies Act and Insolvency legislation will apply with the filing of various documents with the registrar of companies being a requirement.

Limited liability partnerships must be designated as such as on all business stationery with the letters "LLP" being appended to the end of its name.

Government or Local Government Authority

Whilst these bodies can sometimes be slow payers ultimately they will have a low credit risk. Hopefully the late payment of interest legislation will improve payment performance from such bodies.