The government has responded to the consultation on deregulatory changes for LLPs and qualifying partnerships
In the government response to the consultation on deregulatory changes for LLPs and qualifying partnerships, which suggests realignment with the company reporting regime, it states that:
'It is anticipated that the regulations will come into force in the summer of 2016. Would LLPs and qualifying partnerships find it helpful if the regulations permitted early adoption of the revised framework for financial years commencing on or after 1 January 2015 where these had not been agreed prior to the regulations coming into force?'
It then highlights that the government will provide for the early adoption of the revised framework for LLPs, qualifying partnerships and groups that have not agreed and filed their 2015 accounts prior to the regulations coming into force in 2016.
Other comments include:
In summary, some LLPs that have not yet completed their reporting may wish to delay.