Budget 2014: LLP tax crackdown to take place in April

The Government has pushed ahead with the crackdown on LLP taxation structures, stating it will come in from this April, despite criticisms from the industry and calls for a delay.

Earlier this month, the House of Lords economic affairs committee recommended a delay until April 2015 to give firms more time to implement the changes. However, in today's Budget the document indicated the government would continue with its schedule of implementation from 6 April 2014. It said: "The government will introduce legislation that will take effect from April 2014 to counter the disguising of employment relationships in limited liability partnerships and prevent the tax motivated allocation of business profits to corporate partners which are generally taxed at lower rates t...