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Home / Simons-Taxes /Personal and employment tax /Part E5 Special classes of individual /Division E5.6 Lloyd's underwriters /Taxation of underwriting income and gains / E5.620B Taxation of limited liability partnerships
Commentary

E5.620B Taxation of limited liability partnerships

Personal and employment tax

With the Limited Liability Partnership Act 2000 came the possibility of a new route for corporate membership at Lloyd's.

From a tax perspective, the existing provisions for Scottish limited partnerships (see E5.620A) were extended to cover LLPs, but with some differences1.

Key differences include tax relief for partners on loans used to acquire

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