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The government is consulting on proposals to address schemes where profit or loss allocations are manipulated within partnerships to reduce tax.
The consultation concerns disguised employment and profit and loss allocation schemes.
The aim – as announced in this year’s Budget – is to prevent tax loss arising from disguising employment relationships through limited liability partnerships, and from certain arrangements involving allocation of profits and losses among partnership members.
The government is consulting on proposals to address schemes where profit or loss allocations are manipulated within partnerships to reduce tax.
The consultation concerns disguised employment and profit and loss allocation schemes.
The aim – as announced in this year’s Budget – is to prevent tax loss arising from disguising employment relationships through limited liability partnerships, and from certain arrangements involving allocation of profits and losses among partnership members.
Comments on the detailed policy design and on possible impacts of the proposed changes should be emailed no later than 9 August.
