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Dissolution on LLP

Tax return for the final period.

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One of our client LLP cease trading on 31 July 2020 as one of the partner started employment. Due to conflict of interest the retiring partner require LLP to be dissolved ASAP. Since there is a tax liabiity in the final period therefore SA800 needs to be filed for the tax year 2020/21, however since we need to dissolve the LLP, is there anyway we can generate and file SA800 early. I have checked my software( Taxcalc) and there is no option to generate next year tax return. 

 

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Scalloway Castle
By scalloway
13th Sep 2020 15:49

Tax liabilities in an LLP are dealt with by the individual partners in their tax returns.

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By johngroganjga
14th Sep 2020 08:23

I can see why a conflict of interest might mean that an LLP might need to end its trading activities, but not why it needs to be dissolved before it has taken all the necessary steps to be able to do so.

Can you explain?

It is obviously a logical impossibility to be able to submit a 20/21 tax return before 6 April 2021, but until you have explained why anyone would want to I can only assume that it doesn’t matter.

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