M&A Weekly Update: new LLP tax rules and early conciliation in employment tribunal claims

The new ‘salaried member’ rules, which will treat members of an LLP as employees for tax purposes in certain circumstances, came into force on 6 April 2014. To fall outside the provisions, an individual must ensure that he or she does not meet one or more of the three criteria (known as conditions) set out in the legislation.

If treated as a salaried member, employers’ national insurance contributions will be due in respect of remuneration paid to the member (at 13.8 per cent), the LLP will be required to operate the pay-as-you-earn (PAYE) regime and the employment-related securities and disguised remuneration rules will also apply to that member…

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