The main differences between an LLP and a partnership are legal ones, ie limited liability.

The main issues practically are that you will need to file a set of accounts with companies house which mean there are additional compliance costs with having an LLP vs having a partnership and also the fact this document is a public record, whilst a partnerships are entirely private.

Depending on your circumstances it MAY be beneficial to form a limited company rather than an LLP - the costs of compliance are about the same but there tends to be tax benefits of the limited company.

Very hard of course to advise on a forum post but suggest you have a chat to your chosen accountant about business structure to get it right. NB its quite easy to switch from a partnership to an LLP down the track if this is just a very small startup for now. In terms of the name, well with a LLP or a Ltd Co it doesn't really matter a great deal if the name on the register is slightly (or completely) different to your trading name. Eg my trading name is "James Smith, Chartered Accountant", but my limited company is called "James Smith (Accountant) Limited". Ie don't get hung up on trying to "sit" on a limited company name.

Anyway, I hope that helps.

Regards,
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James Smith
Chartered Accountant
www.jamesesmith.co.uk

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