Tax Period for an LLP | AccountingWEB

Tax Period for an LLP

I have a new client which is an LLP, and this is the first time I have done one.  I hadn't realised how different they were!  It doesn't appear to follow the rules of a limited company, nor a partnership - so I've spent ages researching it.

The LLP was incorporated on 15 July 2008 and the year-end is 31 July 2009. 

I read the following: "In general, the tax return will include the results for the accounting period ended within the fiscal year.  For example, if an LLP has a 30 June year end, the 2009/10 return would include results for the accounting period ended 30 June 2009."  It does though state that there are special rules that apply if there is no accounting period ended in the tax year - so this LLP was trading in 2008/9 but didn't have an accounting period end.  Or does this not matter if it only started in that year?

Can you please tell me whether the whole period is dealt with under the 2009/10 return, or whether it has to be split between the 2008/9 and 2009/10 year-ends.

The client only approached me 2 weeks ago, and they hadn't registered the LLP with HMRC (a different story altogether), so I want to make sure I'm clear on the tax requirements here.

Thanks for any help you can offer.


There are 7 comments. Login or register to view them.


Chris Wise |

Thank You

eyreliz |


Chris Wise |

consider changing the year end

Anonymous |

Can I shorten the second year?

eyreliz |

yes but....

stgreg |

Thanks for all the advice

eyreliz |