PEM Insights

Fixed share and salaried members in LLPs – the disguised remuneration trap

Legislation came into effect in April 2014 in an attempt to remove the presumption of self-employment for members of an LLP. This was a hot topic for many LLPs at the time of its introduction but, to some extent, has fallen off the agenda since, partly because of the apparent lack of follow-up from HMRC. However, HMRC do now appear to be querying the structure of some LLP’s pay arrangements so, 4 years on, it seems like a good time to revisit this legislation.

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Michael Hewett, Manager

I am a Manager in our Audit and Accounts team having joined PEM as an ACA trainee in 2008. After qualifying in 2011, I have progressed in my career and now manage a mixed portfolio of charity, not-for-profit and corporate clients. My portfolio includes over a dozen large charities and two Cambridge Colleges.

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