Becoming an authorised partnership
General partners can apply for the limited partnership to act as an authorised contractual scheme (ACS).
In an ACS money or property ('assets') are pooled and managed on behalf of the partners. Partners co-own the assets but only pay tax on their share of any profits - the scheme doesn't pay corporation tax.
The Financial Conduct Authority (FCA) has guidance on getting a limited partnership authorised.
Tell Companies House
You must tell Companies House if the FCA has authorised your limited partnership to act as an ACS.
Download and fill in the change of details for a limited partnership form - you must include your ACS authorisation number.
Send the form to:
Edinburgh Quay 2
There's no fee.