A Limited Liability Partnership (LLP) is safer than a typical Partnership, just as a Limited Company is safer than a Sole Trader business – because of ‘limited liability’.
Safer because: The advantage an LLP has over a Partnership is that Partners in LLPs are not personally responsible for the LLP’s debts. The business debts of the individual are ‘limited’ and their personal assets are safeguarded just as in a Limited Company.
Tax savings: Neither normal partnerships nor LLP’s are generally as tax efficient as Limited Companies. However, there is usually more flexibility in how you pay individual partners through either a partnership, or LLP, than through a Limited Company