Tag Results

A company set up by a senior solicitor to be a member of his firm’s limited liability partnership can be the victim of age discrimination, the president of the Employment Appeal Tribunal has ruled. It is believed to be the first discrimination case brought by a company.

The Chancellor George Osborne yesterday confirmed that there would be no delay in introducing the changes to the way LLPs are taxed, which has left many firms seeking funding for capital contributions.

Controversial changes to the taxation of LLPs will go ahead on 6 April, HM Revenue & Customs announced late last week, but has made some small concessions in response to the concerns of lawyers and others – including giving more time to contribute capital.

Reformed HMRC rules dealing with the taxation of partnerships will obstruct “innocent” firms trying to invest in their businesses and force them to modify their profit-sharing arrangements, according to a leading firm of accountants.