– – Limited Liabilities Partnership (LLP)

Date: 27 October 2020 (REMOTE Online Training)

Code: LLP01

Fees: RM175/ 1 credit (RM165.09 + 6% service tax) Half day

Limited Liability Partnership (LLP) – Economic SMEs business platform and tax benefits (Half day)

INTRODUCTION AND OBJECTIVE:

LLP is an separate legal entity by itself. It is a hybrid between conventional partnership and company.

The partners are given limited liability and at the same time its partners are not govern by the rigid companies Act 2016.

LLP is a separate legal entity like company. Therefore, fixed assets can now be held by LLP as compared to conventional partnership. 

Furthermore, it has certain taxation advantages as compared to the conventional partnership or sole proprietor.

HOW WILL YOU BENEFIT:

At the end of this training session, participants will learn to:

  • Set up a LLP by yourself
  • Learn the cost saving methods
  • Understand the basic compliance requirement
  • Dealing with LLP tax matters

METHODOLOGY:

Lecture, power point presentation, discussions, questions & answers session

WHO SHOULD ATTEND:

  • Business Owners, Directors, General Managers
  • Financial Controllers, Chief Financial Officers
  • Finance Managers, Accountants & Accounts Executives
  • HR Managers, Marketing Managers, Operation Managers
  • Suitable for the following Industries : Manufacturing, Services, Retail, Trading, Processing, Construction, Logistic, Information Technologies, Hospitality and International Businesses.

Course Outline

  • Module 1.1: 
    • Compliance challenges you might be facing currently 
    • Ways to save cost of compliance and avoid penalties?
    • Alternative methods to save your expenses?
  • Module 1.2:
    • Whether LLP suitable for your businesses?
    • Comparison of business set up
    • Industries that suitable
    • Tax Corner
  • Module 1.3:
    • How to register for new platform?
    • How it works?
    • The cost of set up
    • The compliance cost and penalties
    • What should you prepare?
  • Module 1.4: 
    •  Benefits of incorporation of LLP
    • Pros and Cons
    • Restriction might be facing
    • Dealing with business losses and capital allowances
    • Special allowances for small value assets
    • Tax treatment for partners
    • Q & A

TRAINER’s PROFILE:

Lee Jia-Jin, he is a HRDF certified trainer and partner of KAC Advisory Services PLT. He has completed his Bachelor of Commerce (Hons) Accounting from Universiti Tunku Abdul Rahman.

He started his career in accounting with KAC Advisory Services Sdn Bhd after his graduation. He has been working closely with the Directors on GST (Goods and Services Tax) advisory works in various industries. He has conducted various public trainings on basic GST, SST and accounting. Besides, he is also an expert in ABSS (formally known as MYOB) Accounting Software.

Manufacturing companies. He has good working relationship with various local business association involved in SST/GST matters.