ICAS ICAS logo

Quicklinks

  1. About Us

    Find out about who we are and what we do here at ICAS.

  2. Find a CA

    Search our directory of individual CAs and Member organisations by name, location and professional criteria.

  3. Careers

    Access current vacancies and understand what it’s like to work here at ICAS.

  4. Contact Us

    Get in touch with ICAS by phone, email or post, with dedicated contacts for Members, Students and firms.

Login
  • Annual renewal
  • About us
  • Find a CA
  • Careers
  • Contact us
  • Become a CA
  • CA jobs
  • SCABA
  • ICAS Foundation
  1. Members
    1. Become a member
    2. Manage my membership
    3. Benefits of membership
    4. Professional development
    5. Mentoring
    6. Member rewards
    7. CA jobs
    8. Area networks
    9. International communities
    10. Get involved
    11. CA Connect
    12. CA magazine
    13. Top Young CAs
    14. Career breaks
    15. The ICAS member app
    16. Newly admitted members 2021
    17. CA Wellbeing
  2. Become a CA
    1. How to become a CA
    2. Routes to becoming a CA
    3. CA Stories
    4. Find a training agreement
    5. Why become a CA
    6. Qualification information
  3. CA Students
    1. Studying with ICAS
    2. Timetables and exams
    3. Learning requirements
    4. Learning updates
    5. Learning blog
    6. Totum Pro | Student discount card
  4. Employers
    1. Become an Authorised Training Office (ATO)
    2. Resources for Authorised Training Offices (ATO)
    3. Professional entry
    4. Apprenticeships
  5. Thought leadership
    1. Technology
    2. Trust
    3. Talent
    4. Research
    5. CA Agenda podcast
    6. CA Agenda videos
    7. ICAS webinars
    8. CA Summit
  6. Professional resources
    1. Anti-money laundering
    2. Audit and assurance
    3. Brexit
    4. Charities
    5. Coronavirus
    6. Corporate and financial reporting
    7. Business and governance
    8. Ethics
    9. Insolvency
    10. Pensions
    11. Practice
    12. Public sector
    13. Sustainability
    14. Tax
  7. Regulation
    1. Complaints and sanctions
    2. Regulatory authorisations
    3. Guidance and help sheets
    4. Regulatory monitoring
  8. Governance
    1. At a glance
    2. Charter, rules and regulations
    3. Council
    4. Boards and key committees
    5. Public reporting
    6. Executive team
    7. Diversity
    8. Member research
  9. Contact us
    1. ICAS technical helpdesk
    2. ICAS logo request
  10. Careers
    1. Business centres
    2. Meet our team
    3. Benefits
    4. Vacancies
    5. Imagine your career at ICAS

Scottish limited partnerships reform

Laptop on desk with notpad and pen
  • LinkedIn (opens new window)
  • Twitter (opens new window)
By Alice Telfer, Head of Business Policy and Public Sector, ICAS

7 May 2018

Main Points

  • BEIS has launched a consultation on proposals to reform Scottish limited partnership law.

  • The proposals aim to limit the risk of misuse and update the legal framework.

  • ICAS seeks members views on the proposals to respond to the UK government.

The Department for Business, Energy and Industrial Strategy (BEIS) has published proposals to strengthen the legal framework for Scottish Limited Partnerships (SLPs).

ICAS welcomes views from members with experience of working with such entities to inform our response to BEIS.

Following evidence from a consultation investigating Scottish limited partnerships in 2017, the government has confirmed the need to offer Scottish limited partnerships as a business entity to facilitate legitimate and important commercial activity.

Only limited partnerships registered in Scotland have separate legal personality from the partners, with the ability to own property or enter into contracts.

Evidence of misuse has been identified whereby these structures have been used for criminal activity, including international money laundering, which damages the reputation of the UK as a trusted place to do business.

The government is, therefore, seeking to update the law to limit the risk of misuse and level the playing field with the governance of limited companies.

Proposals aim to increase transparency and introduce more stringent checks for the frontmen going into business in the UK.

Proposals under consultation include:

  • All presenters (those seeking to register a limited partnership) to demonstrate they are registered with an anti-money laundering supervisory body.
  • Either to limit a partnership’s principal place of business to remain in the UK or, to allow it to be overseas but with the requirement for a service address to be maintained in the UK.
  • A requirement to file an annual confirmation statement (and what this should contain).
  • A requirement to prepare accounts and reports.
  • The power for the Registrar to strike off partnerships from the register of companies (and how to minimise strike-offs in error).

For further details please refer to the BEIS consultation paper. Please email us your comments by noon 31 May 2018.

shutterstock_227384539.jpg

Guidance to help directors run effective boards

By Alice Telfer, Head of Business Policy and Public Sector, ICAS Policy Leadership

22 May 2018

2021-04-cpd 2021-04-cpd
ICAS logo

Footer links

  • Contact us
  • Terms and conditions
  • Modern slavery statement
  • Privacy notice

Connect with ICAS

  • Facebook (opens new window) Facebook Icon
  • Twitter (opens new window) Twitter Icon
  • LinkedIn (opens new window) LinkedIn Icon
  • Instagram (opens new window) Instagram Icon

ICAS is a member of the following bodies

  • Consultative Committee of Accountancy Bodies (opens new window) Consultative Committee of Accountancy Bodies logo
  • Chartered Accountants Worldwide (opens new window) Chartered Accountants Worldwide logo
  • Global Accounting Alliance (opens new window) Global Accounting Alliance
  • International Federation of Accountants (opens new window) IFAC
  • Access Accountancy (opens new window) Access Acountancy

Charities

  • ICAS Foundation (opens new window) ICAS Foundation
  • SCABA (opens new window) scaba
ICAS logo

Our cookie policy

ICAS.com uses cookies which are essential for our website to work. We would also like to use analytical cookies to help us improve our website and your user experience. Any data collected is anonymised. Please have a look at the further information in our cookie policy and confirm if you are happy for us to use analytical cookies: