Finance Act 2014 (c. 26)

SCHEDULES

SCHEDULE 17 U.K. Partnerships

PART 1 U.K. Limited liability partnerships: treatment of salaried members

Supplementary provision: arrangements made by intermediaries U.K.

5 U.K. In Chapter 8 of Part 2 of ITEPA 2003 (application of provisions to workers under arrangements made by intermediaries) in section 54 (deemed employment payment) after subsection (1) insert—

“(1A) For the purposes of step 1 of subsection (1), any payment or benefit which is employment income of the worker by virtue of section 863G(4) of ITTOIA 2005 (salaried members of limited liability partnerships: anti-avoidance) is to be ignored.”