Death of the Salaried Partner? Wide Ranging Changes to LLP Member Taxation To Come Into Force on 6 April 2014

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Wide ranging changes to the way in which LLP members are taxed are due to take effect on 6 April 2014. LLPs and their members, particularly those in professional service and private equity/fund management firms, should, therefore, consider the impact of the proposed changes well in advance of 6 April, as a great many “salaried partners” will be treated as “employees” for income tax and national insurance contributions purposes.