Tax treatment of LLPs

A change to the existing rules where a limited liability partnership (LLP) has delivered an LLP return on the basis of operating 'with a view to profit' and is subsequently found to be operating 'without a view to profit', HMRC can still amend the LLP members' returns based on the LLP return as originally submitted.

The measure has retrospective and prospective effect from the date of Royal Assent to Finance Bill 2020.

Added By: Sharon Worger on 12th Mar 2020 - 17:00
Last Updated: 12th Mar 2020 - 19:25

Number of Views: 68
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