by Richard Pirouet
Please note:
Since the article below was written, the legislation introducing LLP's in Jersey has been enacted in the island. Possible moves by large UK firms of Chartered Accountants to register in Jersey were suspended when the Inland Revenue issued a press release to the effect that they intend taxing Jersey LLP's operating in the UK as companies. This view has been disputed by Ernst & Young and Price Waterhouse and is currently subject to judicial review. It is unlikely that any UK firms will register as LLP's in Jersey until the review process is complete.
After a lengthy debate, the States of Jersey approved, on 24 September 1996, the introduction of legislation permitting the registration of Limited Liability Partnerships (LLPs) in the Island. The legislation was drafted in conjunction with the UK firms of Ernst & Young and Price Waterhouse and is similar in many respects to the Limited Liability Partnership law in the state of Delaware. The law
