Private Investment Fund / K-1

I haven't been able to find any information on US citizens living in the UK with respect to the implications of being a limited partner in a US partnership (and therefore receiving annual K-1s).  While claiming R/NOR and under the remittance basis, am I correct to assume that any annual profits (in K-1) will be disregarded by HMRC?

What sort of partnership is it? LLP, LLC, LP, general? Where is it managed and controlled? Have section 739 implications been reviewed? Is it employer sponsored? Are the owners shadow directors?  There are all kinds of possible UK implications...

What sort of partnership is it? LLP, LLC, LP, general? Where is it managed and controlled? Have section 739 implications been reviewed? Is it employer sponsored? Are the owners shadow directors?  There are all kinds of possible UK implications...

I plan to solicit advice from my accountant on this, but here are the facts:  LLC (box not checked - so a flow through partnership).  Managing member and advisor are offshore (Cayman, Bermuda) entities.  Sponsored by an affiliate of employer.  Ultimate investment vehicle has an independent Board.

Section 739 implications have not been reviewed to my knowledge; however doesn't 743(3) exempt a R/NOR (non-UK domiciled) - claiming the arising basis - from UK tax on offshore income/profits?  The same way that R/NORs (on a remittance basis) do not pay UK taxes on US investments such as mutual funds that pay dividends.

Another option for me would be to invest in a Jersey company but I imagine this would create some nightmare PFIC issues (so not really an option).