Advantages

• The high international authority of United Kingdom as a member of EC.
• No requirements as for registration document of corporporation agreement of partners, which would regulate inner operations of the company and allocation of gain between partners.
• Limited answerability of partners.
• Accountancy statements – should be prepared only year end account, no monthly accountancy statements.
• VAT statement – one time in three months.
• No currency control.
• Partnership is not considered a payer of income tax in level of a UK company, furthermore, every partner has to pay a tax from his part of gain from participation in partnership.
• In case if partnership has overseas partners and company does not  make business on the territory of UK, there is no taxation on the territory of UK, and partners have to realize their tax responsibilities singly in a registration country and/or location.