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Scottish Limited Partnerships

© Reed Elsevier (UK) Ltd 2008
Paul Sutton of McGrigors LLP and Jane McCormick of KPMG LLP's Financial Services Tax Group discuss the application of Scottish limited partnerships in group structures and investment funds
Scottish limited partnerships (SLPs) may be suitable vehicles in respect of group structures and investment funds even where those groups or funds have no other connection to Scotland. This suitability stems from the key features of SLPs being tax-transparency limited liability and separate legal personality (other key features of limited liability partnerships are set out in Figure 1).
Figure 1: Limited Partnerships
All partnerships consist of partners who carry on a business in common with a view of profit. A...

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