Published Wednesday 20th March 2013, 01:54 PM
Although glossed over in the budget speech, HMRC have announced that it will consult on measures to:
- remove the presumption of self-employment for limited liability partnership (LLP) partners, to tackle the disguising of employment relationships through LLPs; and,
- counter the manipulation of profit/loss allocations (by both LLPs and other partnerships) to secure tax advantages.
The aim is to ensure the necessary legislation is contained in the 2014 Finance Act.