LLPs and Other Partnership Tax Issues

Course aims and objectives

This course is a great opportunity for the general practitioner to compare and contrast the various partnership options available to our clients.

The content of the course will cover the principles of an LLP and other partnerships, including an awareness of the statutory requirements, and then extending into the taxation implications of creating an LLP and managing the business to the most tax efficient effect.

The course will include a review of relevant tax cases to consider when planning, and will include numerous examples and illustrations to make this a practical and informative course.

The course will include

• An overview of typical partnership structures
• The formation, structure and administration of an LLP
• The tax implications of creating a new LLP
• Transferring from a partnership or sole trader to an LLP
• Tax compliance and statutory requirements
• Change of accounting date and selecting the best date
• Change in profit sharing ratios, admitting new partners and retirements
• Partnership assets
• Pensions
• Incorporation of partnerships
• Liquidation of partnerships
• Corporate partners

We also provide a key points version of this course. Please click on this link LLPs and Other Partnership Tax Issues – Key Points for details.