We are delighted to welcome Alex Conway, tax partner at Crowe, as a guest speaker for this discussion on Basis Period Reform changes.
In this discussion, Alex along with Partners Corinne Staves and Zulon Begum, demystify the basis period reform changes and outline the practical implications for partners and firms. In this wide-ranging discussion, they explore:
- The increased cash pressures on partners and firms and ways to address these changes;
- How working practices will need to change to adapt to this new regime;
- Whether firms need to change their year-end date;
- The ancillary implications, including on succession and partner exits and ensuring fairness between different cohorts of partners on what could be surprising divisive questions;
- What scenario planning should firms and partners be doing?
- What if partners or firms do nothing?
The key message is that good preparation is vital.
If you would like to discuss the implications of basis period reform for you or your firm, please contact Alex Conway, Zulon Begum or Corinne Staves.