In these austere times we have all come to accept that governments of whatever political hue must balance the books one way or another. Danny Alexander's [chief secretary to the Treasury] announcement at the Liberal Democrat conference targeting the use of service companies to reduce the overall tax burden, is but one of a number of recent anti-tax avoidance proposals likely to lead to new legislation.

Private equity partners may lose the advantage of having their profits taxed as capital gains. And the recently-closed HMRC consultation on taxation of LLP members is likely to result in many individuals who are currently taxed on a self-employed basis being taxed as employees.