LLP legislation will affect succession planning, warn firms

With the incoming Finance Bill legislation likely to adversely affect LLP firms' ability to thoroughly screen talent for partner roles, Fergus Payne discusses the possibility of salaried partners being asked to place more capital in the business in an article for Accountancy Age.

Fergus continues to say how "a good number of firms are trying to proceed with... sticking in some capital. It's not an alien concept, they will most typically have borrowed it from a bank, so in theory it's a relatively easy solution that you go an ask the bank to lend your partners some money".

You can read Fergus' comments in full on the Accountancy Age website here.