The LLP salaried members rules – Are you compliant?

The salaried members rules treat members of LLPs (but not partnerships other than LLPs) as employees for tax purposes if in substance their relationship with the LLP is akin to that of an employee. Not only does this affect the amount of tax payable, but it is also necessary to operate PAYE which may be a significant administrative burden.
 

VAT blow for cultural charities and public bodies

The European Court of Justice (ECJ) has finally crushed hopes that more public bodies and charities engaged in cultural activities could claim VAT exemption on their admission charges. Its recent judgment in the VAT case of the British Film Institute (BFI), released in February, draws a line under an argument that has been running for the last four years.

Breaking news for non UK domiciliaries

The changes to the taxation of non UK domiciliaries which were to apply from 6 April 2017, have been dropped from the Finance Bill due to a shortage of Parliamentary time in advance of the General Election. When the clauses were dropped, it was announced that they will be brought forward in a Finance Bill as soon as is practicable after the election. It is not clear whether this will be through a further Finance Bill after the election (and potentially backdated in effect to 6 April 2017) or postponed to 6 April 2018.

This could have serious implications for anyone who undertook restructuring prior to the introduction of the new rules, particularly if they are not reintroduced in their current form.
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