Welcome to July’s edition of the UK Tax Round Up. This month has seen an interesting decision of the First-tier Tribunal on the salaried member rules as they apply to asset manager LLPs, a surprising decision on the terms...more
On March 17, the UK Chancellor of the Exchequer, Rishi Sunak, announced an unprecedented £330 billion package, equivalent to 15% of UK gross domestic product, of government-backed and guaranteed loans to support businesses,...more
In re Estate of House, 2014 Wash. App. LEXIS 3006 (Wash. Ct. App. 2014) - A release waiving any and all claims that the parties may have or may acquire, bars recovery for unknown claims existing at the time the release...more
Is your business operating in the UK in “Limited Liability Partnership” (“LLP”) form? If so, it may be affected by a tax reform from 6th April 2014, requiring immediate compliance steps....more
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,...more
I. GENERAL. A. Introduction. In selecting a form of business entity for an oil patch deal in Texas the organizer or initial owners can consider the following five business entity forms: • Corporation •...more
On 20th May, HMRC published a consultation document which proposes major changes to the taxation of partnerships in the UK. The consultation is particularly relevant to investment management LLPs – and especially to those...more