Continuing our series of basic informative articles in the first of two articles Graeme Blair Tax Director BDO Stoy Hayward LLP considers the tax implications of using a Limited Liability Partnership
Limited Liability Partnerships (LLPs) were first created by the Limited Liability Partnerships Act 2000 (LLPA 2000) which came into force on 6 April 2001. LLPA 2000 was partially a response to the increase in litigation against professional partnerships and the size of the claims made. During the 1990s some professional firms considered incorporating their UK partnerships into Jersey LLPs. The UK Inland Revenue responded by announcing that it would treat a Jersey LLP as being a corporate entity for tax purposes. Although this view was never challenged in the...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
Continuing our series of basic informative articles in the first of two articles Graeme Blair Tax Director BDO Stoy Hayward LLP considers the tax implications of using a Limited Liability Partnership
Limited Liability Partnerships (LLPs) were first created by the Limited Liability Partnerships Act 2000 (LLPA 2000) which came into force on 6 April 2001. LLPA 2000 was partially a response to the increase in litigation against professional partnerships and the size of the claims made. During the 1990s some professional firms considered incorporating their UK partnerships into Jersey LLPs. The UK Inland Revenue responded by announcing that it would treat a Jersey LLP as being a corporate entity for tax purposes. Although this view was never challenged in the...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
