Profit allocation to estate:
Given it is 29 January, I'm not expecting any detailed answers but I have an issue concerning the allocation of trading profits to the estate in administration of a deceased member. We're talking about accounts for a period starting after the member died - i.e. after he ceased to be a member by virtue of his death - and neither the personal representatives or his heirs have been appointed as members since his death. I'm struggling to see how trading profits can be allocated to the personal representatives (in the accounts and on the partnership tax return) as members of the LLP when they are not members. The person preparing the accounts seems to think it's fine. Given that the remaining members are liable at 40% or more and the estate is liable at 20%,and the profits allocated are almost £200k, the tax difference isn't small.
Any brief comments on whether this is, or isn't, possible would be gratefully received.