UK, HMRC, Limited Liability Partnerships

The Salaried Members Rules and the 'Significant Influence' Test – Does the BlueCrest Case Affect Me (As a Partner) or My Firm?

Katten Muchin Rosenman LLP on 3/13/2025

Salaried Members Rules - Limited liability partnerships or "LLPs" are common corporate vehicles utilised by the financial services sector to establish UK investment management operations and other financial businesses and,...more

UK Economic Crime and Corporate Transparency Act - Change is Coming

Proskauer Rose LLP on 10/30/2023

Background - On 26 October 2023, the United Kingdom (“UK”) Economic Crime and Corporate Transparency Act (the “Act”) received Royal Assent. The Act aims to reform Companies House and increase the transparency of UK...more

BlueCrest FTT Decision – Salaried Member Rules and Asset Managers

Proskauer - Tax Talks on 7/14/2022

The recent decision of the First-tier Tribunal (FTT) in BlueCrest Capital Management (UK) LLP v HMRC (29 June 2022) is the first time the UK’s salaried member rules (the Rules) have been considered in the context of an asset...more

UK Tax Round Up - July 2020

Proskauer Rose LLP on 8/5/2020

UK COVID-19 Developments - Furlough not detrimental to EMI options held on 19 March 2020 - On 26 June, the government introduced a new provision into the Finance Bill that provides that the period during which an...more

UK Budget 2020 - Key Tax Measures

Cadwalader, Wickersham & Taft LLP on 3/12/2020

The Chancellor of the Exchequer delivered the United Kingdom (“UK”) Budget for 2020 on 11 March 2020. The Budget was delivered against a backdrop that very few people could have anticipated at the commencement of the year....more

A Quiet UK Budget for Asset Managers, But Other Recent Tax Changes Shouldn’t Be Forgotten

Proskauer - Tax Talks on 3/15/2017

After numerous UK tax changes affecting asset managers over the past few years – not least the wholesale re-vamping of the tax treatment of carried interest and other fund participations for investment fund managers – the UK...more

UK Government consults on UK VAT Grouping Rules

King & Spalding on 4/11/2016

Summary - The UK tax authority (HM Revenue & Customs (HMRC)) is to formally consult on proposals for changes needed to the UK VAT grouping provisions. The consultation is as a result of European Court decisions which...more

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