Professional Firms Insight – Summer 2019
In this issue, we examine two old tax issues facing professional firms that have reared their heads again in recent times. Firstly, following recent HMRC announcements, we look at the different ways that a partner can claim tax relief on business expenses paid out of their own pockets. Secondly, after several years of inactivity, it appears that HMRC are now checking compliance with the salaried members rules for LLPs so we set out a useful reminder of the three conditions under those rules.
We also provide insight into the compliance and commercial issues facing firms considering overseas expansion. Finally, we outline the VAT implications to professional services firms taking on property consultation projects abroad.
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I hope you enjoy reading this edition of Professional Firms Insight.