UK private fund limited partnership (PFLP): sourced answers
2 answers to specific questions — each with a verbatim quote from an official source and a link to it.
Every answer is checked against a verbatim quote from a stored copy of its source and has passed an independent review. This is reference information, not legal advice: rules change, and the outcome depends on your circumstances.
Legal form in a country
Which authority registers the structure and keeps its register
Companies House register
«Use this form to apply to register a limited partnership which is also to be designated as a private fund limited partnership (PFLP). From: Companies House Published: 6 April 2017 Last updated: 16 February 2026 — See all updates Get emails about this page Applies to England, Northern Ireland and Wales Publication for Scotland Documents LP7 Application for registration of a limited partnership as a private fund limited partnership PDF , 34.1 KB , 2 pages Details It costs £124 to register a limited partnership which is also to be designated»
Source: gov.uk · source copy as of 2026-10-02
«8D.—(1) An application for designation as a private fund limited partnership may be made with an application for registration under section 8A or at any time after a limited partnership has been registered. (2) An application for designation as a private fund limited partnership must— (a) Section 8A was inserted by S.I. 2009/1940. (b) Section 8C was inserted by S.I. 2009/1940. 5 (a) specify the firm name of the partnership; (b) specify the address of the partnership’s principal place of business or proposed principal place of business; (c) in the case of an application made after the firm is registered as a limited partnership, specify the limited partnership’s»
Source: legislation.gov.uk · source copy as of 2026-10-03
How is the structure itself taxed: separate taxpayer, transparent, exempt or by election
Transparent
«private fund conditions are that the partnership— (a) is constituted by an agreement in writing, and (b) is a collective investment scheme. (4) In subsection (3) “collective investment scheme” has the same meaning as in Part 17 of the Financial Services and Markets Act 2000(a) (see section 235 of that Act), ignoring any order made under section 235(5) of»
Source: legislation.gov.uk · source copy as of 2026-10-03
«For tax purposes, a partnership is not regarded as a separate and distinct entity and we ‘look through’ to the persons making up the partnership. Partnerships are described as ‘transparent’ for this reason. This treatment applies equally to all types of partnership, including both those without separate legal personality, e.g. English general partnerships, and those with separate legal personality, e.g. Scottish partnerships and Limited Liability Partnerships. Statutory provisions exist to ensure that partnerships with separate legal identity are taxed in the same way as general partnerships. Under this principle, partnerships have no tax liability. It should be noted, however, that profits of the partnership are computed at partnership level before being apportioned to the members. Further guidance on how this works in practice is available at PM137000 and PM163010 . Partners are liable to tax on their share of profits from the part»
Source: gov.uk · source copy as of 2026-10-03
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