The illustrative scenario
A consulting partnership should decide who may sign client contracts and how profits are distributed.
This is a planning illustration, not a client story or a promised result. Your transaction facts, entity and applicable rules can produce a different recommendation.
Identify what needs deciding
LLP or company: partner flexibility versus issuing equity shares to investors.
An LLP agreement copied from a template can leave exit rights and partner responsibilities unresolved.
Write the question in business terms and separate what you know from assumptions. The adviser should explain which missing facts could materially change the proposed approach.
Gather evidence for the decision
Collect partner identity records, office occupancy proof and the commercial terms of the LLP agreement.
Build a dated record of the facts and explain any inconsistent records. Keep originals and identify the source of each estimate; forecasts and actual financial results should not be presented as the same thing.
Turn the assessment into an action plan
Align contribution, profit sharing and partner authority before incorporation and agreement filing.
Include agreement drafting, stamp-duty advice and post-incorporation filings in the written scope.
For each action, agree its owner, dependency and completion evidence. Obtain approval before a material decision is implemented and plan for possible requests for additional records.
Check the result and continuing responsibilities
Retain incorporation evidence, signed agreement, filing acknowledgements and partner-change records.
Does the scope include the agreement filing and a clear annual compliance handover?
Review what remains outside the assignment, including future compliance and recordkeeping. Request advice tailored to the actual facts rather than using this illustration as an instruction to file or transact.
How to use this resource
