CCAB has published a new edition of the LLPs SORP, Statement of Recommended Practice – Accounting by Limited Liability Partnerships, updated in response to various changes to reporting requirements.

The updated SORP is effective for periods commencing on or after 1 January 2026 with early adoption permitted.

The updated SORP includes amended requirements and revised guidance relating to disclosures required by small entities, presentation of members’ remuneration, and post-retirement payments to members.

Other minor amendments have been made to the LLP SORP to enhance its clarity and align terminology to that used in FRS 102, which is used in conjunction with the SORP for applicable entities. It is important for LLPs to note the significant changes to lease and revenue recognition accounting in UK GAAP effective from January 2026 accounting periods.