Incisive Views from Professionals
By Kamlesh Chauhan, Senior Manager – VAT, haysmacintyre Making Tax Digital (MTD) will fundamentally change and modernise the administration of the UK tax system, starting with VAT which is set to be implemented from 1 April 2019. Who does it apply to? All entities that are mandatorily VAT registered will be subject to […] Read more »
By Steven Whittaker and Nicholas Fagge, Schulte Roth & Zabel LLP Background In May 2013, HM Revenue and Customs (“HMRC”) consulted on proposals in two areas to tackle perceived tax avoidance via partnerships. The first area was disguised employment in Limited Liability Partnerships (“LLPs”) and the second was the tax-motivated allocation of business profits […] Read more »
From Daniel Lewin of Kaye Scholer On May 20, 2013, HM Revenue & Customs (HMRC), the UK Revenue authority, published a consultation document that proposes significant new anti-avoidance tax measures aimed at UK partnerships, and in particular at English limited liability partnerships (LLPs). This consultation document continues to be the subject of controversial discussion between […] Read more »
Last week the “Financial Times ” ran a story that the UK tax authorities (HM Revenue & Customs) were looking to tackle the disguising of employment relationships through limited liability partnership structures and the manipulation of profit and loss allocations to achieve tax advantages. The Table Below Shows 15 of the largest 25 hedge fund […] Read more »