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Decoding HMRC’s salaried member rules for LLP partners

Changes to the HMRC guidance on salaried member rules post Bluecrest has caused enormous confusion for partners, explains Kiran Chotai, senior manager at haysmacintyre

The salaried member rules were introduced in April 2014 and the first case that went to tribunal was BlueCrest Capital Management LLP last year.

HMRC’s rules apply to the payments made to members of limited liability partnerships (LLP), which meant the hedge fund was the first to take a hit.

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