PricewaterhouseCoopers' Director of Operations, Gordon Horsfield, told AccountancyAge.com: 'After many years of pushing for the modernisation of UK partnership law we are obviously delighted by this announcement. It shows a real commitment to providing a modern business environment for professional firms whose services underpin the strength of the UK as a global business centre. Limited Liability Partnership legislation will help firms continue to attract, to develop and to retain the talent they need to serve clients' needs.We look forward to the introduction of LLPs at the earliest opportunity. As a firm PricewaterhouseCoopers will consider whether to adopt LLP status if, as we hope, the legislation is enacted.'Ken McHattie, convener of the Scottish institute's business law committee welcomed the bill, announced in Wednesday's Queen's Speech. But he said the draft legisltaion would be complex and 'inaccessible' to the layman. He said ICAS was also concerned that the taxaton of LLP's would not be as straightforward as the draft bill implied.
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