Business disruption: Partnerships and LLPs scramble to make deadlines

Author: Pamela Sayers, James Kirk (

Categories: Governance, Research
Tags: Finance Bill, legislation, LLP, Partnership Consultation Document
Business disruption can come from government legislative changes. In this TV show Pamela Sayers explains the impact of the Finance Bill 2014.

Finance Bill causes business distruption

The reaction I’m seeing at the moment is that partnerships, LLPs, are now waking up to the fact that this is going to affect them. Interestingly, we undertook a survey in the summer and of the respondents, of which there was just over 100, only half the respondents thought that the Partnership Consultation Document would affect them. I suspect if we asked the same question now it would be 100%. they have left firms with so little time to put their affairs and consider the quite stringent conditions to put things in place by 6th April. In fact one of the representations that we will be making is that actually all of this legislation should be deferred by 12 months. What we have is some draft proposals for the 2014 Finance Bill with some guidance notes attached. The guidance notes lack so much clarity that what we’re expecting, perhaps at the end of February, beginning of March, is much more detailed guidance, but I suspect that is still going to leave a lot of unanswered questions. Browse all TV shows on Inside Finance for more expert discussion on business disruption factors.  
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