Basis Period reform means that partners in trading partnerships will be taxed on their share of the profits arising in a tax year, regardless of the firm’s accounting date.
There are numerous issues for firms - that do not have a 31 March year-end - to consider including cash-flow impact, requirement for additional funding and the potentially significant administration burden of filing amended Tax Returns. This webinar will discuss the key points that finance / tax teams will need to consider, alongside the Government’s consideration of potential easements for complex partnerships.
