One of my client started LLP on 17/02/2016.Now I am preparing the LLP accounts & tax return.I am bit confused of the overlap period. The question is:
a) 2015/16 Return period covers 17/02/16 to 05/04/16 &
b) 2016/17 second return period will cover 01/03/16 to 28/02/17 to cover 12months OR it will start from 17/02/16 to 28/02/17.
& Partners will file their SA return for 2016/17 or they will need to file 2015/16 SA return as well.