In recent years, MXene 2D materials have shown good performance in enhancing the flame retardant properties of composite materials, but it is still tricky to improve the compatibility with the polymer matrix. This work explores a simple method for the synthesis of MXene based nanohybrids (CoMn‐LDH@MXene) by hydrothermal synthesis using MXene and layered double hydroxides (CoMn‐LDH) to construct a flame retardant system with excellent performance. The results show that the MXene nanosheets are less built up and more dispersed in the TPU collective due to the inclusion of LDH, giving the TPU composites excellent flame retardant and smoke suppressant properties. Compared to TPU without flame retardant, TPU composites with 2 wt% CoMn‐LDH@MXene reduced PHRR by 33.7 % and THR by 28.7 %. The TPU/2wt %CoMn‐LDH@MXene composites also showed better flame and smoke suppression performance, PSPR, TSP, PCO and PCO2 were reduced by 44.4 %, 22.7 %, 37.7 % and 27.2 % respectively, the production of Hydrocarbons and HCN were also reduced. Barrier effect of transition metal oxide catalysed carbon layer formation, combustion blocking effect of hybrid material nanosheets, cooling effect of water vapour from thermal decomposition of LDH and the gas phase dilution effect are the main reasons for the increased fire safety of TPU composites.