The government yesterday published a summary of responses found here to the August 2016 consultation on the clarification of partnership tax, along with an overview of their revised proposals.
It has been confirmed that legislation will be included in the second Finance Bill 2017 (due late 2017) and that changes will apply to returns for accounting periods starting on or after 5 April 2018. Draft Finance Bill clauses will be published for technical consultation in due course.
This bulletin summarises the key content relevant to professional practices partnerships. A link to our previous bulletin that sets out the background to this consultation, including the measures that were originally proposed, can be found here.