On 10 December 2018, the Department for Business, Energy & Industrial Strategy (BEIS) published the Government’s response to the consultation of reforms to limited partnership law.
The BEIS published a consultation on 30 April 2018 on reforms to limited partnership law. The consultation document set out a range of proposals to achieve this, including stronger controls at the point of registration, requirements for additional information whilst the limited partnership is operating, as well as providing the registrar with powers to strike off limited partnerships from the register under certain circumstances.
In its response, the Government agrees that there is a continuing need to offer the limited partnership as a business entity, including in its Scottish form. It intends therefore to take action that will limit the potential misuse of limited partnerships but ensures that limited partnerships remain attractive for legitimate business use, in particular as an investment vehicle.