I have a new client who is a new partner of a professional partnership and have a few questions. Thanks for any thoughts.
1) If the partnership prepares accounts to December and the new partner joins on 1 Feb 2021 then will he be included in the partnership tax return in the year he joins? (I include his share of profits from 1 Feb to 5 April on 20-21 tax return but the partnership includes the profits for the AP ended Dec 20?)
2) If the new partner has not claimed any use of home expenses from the partnership then is there any way of getting tax relief for such expenses?