Call us on
01752 203500

The Partners are pleased to announce that with effect from 1 July 2009 this firm will become a Limited Liability Partnership known as Gill Akaster LLP.  This is the business structure favoured by many professional practices.

From that date, legal services provided by Gill Akaster will be provided by Gill Akaster LLP on exactly the same terms and conditions as already agreed. 

Frequently Asked Questions are below, but if there is anything else you wish to ask then please do not hesitate to contact us.

What is an LLP?
An LLP is a combination of traditional partnership and a limited company.  In traditional partnership, partners have unlimited liability, whereas conversion to LLP offers the benefits of limited liability.  Under an LLP the firm is still able to retain its traditional partnership structure.

Who will be a partner?
Partners of the LLP will be the existing partners in Gill Akaster. We use the word Partner to refer to a member of Gill Akaster LLP, or an employee with equivalent standing and experience.

Why is Gill Akaster converting?
Most partnerships are now converting to limited liability status and LLPs are increasingly viewed as the most appropriate business structure for professional services firms. Limited liability makes it easier to attract key staff and and LLP may well find it easier to raise finance than a traditional partnership.

What will be the new name of the firm?
Gill Akaster LLP.

How will LLP conversion affect the service provided to clients?
The terms of engagement under which Gill Akaster LLP will provide services to clients are the same as those applying prior to conversion so it will be "business as usual".   There are however, a few notable points:
* Gill Akaster LLP is a limited liability partnership registered in England and Wales with number OC344691. It's registered office is at 25 Lockyer Street Plymouth PL1 2QW
* All rights and obligations, including any contractual obligations which Gill Akaster or any of its individual partners or staff has with you, will be transferred to and assumed by Gill Akaster LLP with effect from 1 July 2009.
* Gill Akaster LLP is a limited liability partnership and no personal duty or obligation is owed to clients by any individual partner, employee or consultant of Gill Akaster LLP. Accordingly it is a term of our engagement going forward that no claim can be brought in respect of any loss or damage against any of our partners, employees or consultants. Gill Akaster LLP itself will continue to carry the same substantial level of professional indemnity insurance as was carried by the former partnership.
* In terms of business any reference to Gill Akaster will be deemed to be a reference to Gill Akaster LLP, and any reference to partner or partners in Gill Akaster will be deemed a reference to a partner or partners in Gill Akaster LLP.
How will LLP conversion affect relationships with suppliers?
All rights and obligations, including any contractual obligations which Gill Akaster or any of its individual partners or staff has with you, will be transferred to and assumed by Gill Akaster LLP with effect from 1 July 2009 and, as above, any reference to Gill Akaster will be deemed a reference to Gill Akaster LLP.
Gill Akaster LLP will be a limited liability partnership and no personal duty or obligation will be owed to suppliers by any individual partner, employee or consultant of Gill Akaster LLP.
What are the implications for finance departments?
Any cheques or invoices which are paid to or are payable by Gill Akaster should instead be in the name of Gill Akaster LLP.

What new requirements Gill Akaster LLP have for example, in terms of disclosing financial information?
Conversion to LLP will mean that Gill Akaster LLP is required to file with Companies House:
* an Annual Report and Accounts;
* any changes to the LLP's membership;
* any changes to member's names and residential addresses; and
* any changes to the Registered Office address.