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Firms united in LLP taxation concern

Accountancy Age

PROPOSED CHANGES to the way partnerships – and in particular, LLPs – are to be taxed appear to be heading inextricably towards being passed into law as they are, in spite of vehement protestations of firms. HMRC and the Treasury are concerned that limited liability partnership structures allow “disguised employment” to take place, whereby people who are ostensibly partners in fact have a guaranteed income and little decision-making power. The worry for the…

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