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Salaried members: revised draft Finance Bill 2014 legislation – GOV.UK.

On 7 March 2014, HMRC published revised draft Finance Bill legislation on the limited liability partnership salaried members rules, to reflect changes made following consultation. These fairly minor changes were set out in revised guidance issued on 24 February 2014. Whilst this legislation will in the main take effect from April 2014, the anti-avoidance provision which would disapply the salaried members rules, where these would risk circumvention of the new profit allocation rules for mixed-membership partnerships, will come into effect from the date of Royal Assent to Finance Bill 2014.