What is the Role of a Designated Member in an LLP?

Designated members have more responsibilities than ordinary members.

They must:

• Register themselves and the business for HMRC Self Assessment.
• Incorporate/register the company for VAT if the overall revenue is estimated to surpass £90,000 a year.
• Appoint an auditor.
• Maintain accounting records.
• Prepare, sign, and submit annual accounts alongside a confirmation statement to Companies House.