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  • Self assessment for foreign resident members of inactive LLP

    I would like to set up an LLP with 1 UK based, 1 US based, and 1 EU based member. There will be one investment, and then no other trading and no income from the investment within 10 years, if at all. I know LLP members have to file for self assessment, but do the foreign resident members still have to file self assessment during the following ±10 year period when the LLP is essentially inactive? I am concerned about creating unnecessary hassle / work for these members, and have heard that if there is no trading / income the self assessment requirements for these members can be waived.