I'm having difficulty finding any clear guidance on how to treat a dairy herd under herd basis in statutory LLP accounts under the micro entities regime. HMRC seems clear that herd basis can still be applied, but does this entail a separate tax adjustment and disclosure in notes to the partnership return, or can the herd be treated in a similar way to a fixed asset in the micro entity accounts?
3rd Aug 2021
How is Herd Basis treated in LLP accounts
Can a dairy herd be recognised in herd basis in statutory accounts
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