Louis Baker suggests some options to manage the short-term impact ?of the termination of tax advantages for service companies
It was a shock to hear a UK government tax announcement at a Liberal Democrat party political conference. It was even more surprising that the announcement was on the specifics of an aspect of taxation affecting partnerships and LLPs.
On 17 September, Danny Alexander, chief secretary to the treasury, announced at the liberal democrats' autumn conference that the tax benefits that could arise through a partnership or LLP operating a service company would be counteracted. During the speech, there was a strong undertone that professional service firms were conducting underhand, shady tax avoidance tactics which ?the government had only fortuitously stumbled across.
The government announced on 25 October 2013 t...
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