A taxpayer is carrying out consultancy work through a new limited company. Six different classes of share have been issued: one for the consultant, one for his wife, and the others for each of their children
Salaried members of limited liability partnerships (LLPs) will be classed as employees under changes to the taxation of partnerships, HMRC have announced.
The move follows the consultation on proposals for addressing the disguising of the employer/employee relationship through membership of LLPs.
The responses highlighted the problem of disguised employment arising from the interaction of the Alternative Investment Fund Managers Directive (AIFMD) and the existing partnership tax rules on alternative investment fund (AIF) managers who operate as a partnership.
Project Blue Ltd (TC2777)
The annual tax on enveloped dwellings (ATED) has been brought within the disclosure of tax avoidance schemes (DOTAS) regime, the government has announced.
Schemes designed and marketed to avoid paying the ATED must be brought to the attention of HMRC, under the Annual Tax on Enveloped Dwellings Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations 2013 (SI 2013/2571) and the Tax Avoidance Schemes (Information) (Amendment, etc) Regulations 2013 (SI 2013/2592).
Tower Radio Ltd; Total Property Support Services Ltd (TC2784)
By Patrick Cannon LLB BCL CTA(Fellow) barrister; paperback; 309 pages; £140; Key Haven Publications
R Denny (TC2714)
Assessing the accuracy of claims made by a BBC documentary
Tax professionals react to the Panorama report on avoidance
Responsible stamp duty land tax planning is possible in spite of three sets of legislative provisions
The government has announced plans to restrict the use of the compensating adjustments mechanism in the transfer pricing legislation where it generates income tax advantages.
HMRC are aware of two major schemes that exploit the rules. The first arrangement involves large partnerships that employ staff through a separate service company, which the partnership owns.
R Smith (TC2768)