Anti-avoidance - taxation of partnerships

The Chancellor made a brief reference to anti-avoidance provisions relating to the taxation of partnerships in the budget speech.  The budget documentation includes the following statement (here):"The The Chancellor made a brief reference to anti-avoidance provisions relating to the taxation of partnerships in the budget speech.  The budget documentation includes the following statement (here):

"The misuse of the partnership rules has been a feature of many avoidance schemes closed down in recent years. The Government announced in Autumn Statement 2012 that it would consider whether partnerships should be reviewed, as part of the rolling examination of high risk areas of the tax code. The Government has now announced that it will consult on measures to:

(a)   remove the presumption of self-employment for limited liability partnership (LLP) partners, to tackle the disguising of employment relationships through LLPs; and

(b)  counter the manipulation of profit/loss allocations (by both LLPs and other partnerships) to secure tax advantages.

A consultation document will be published with proposals to address both issues in the spring, with legislation to be introduced in Finance Bill 2014."

We are told that the consultation document will be published here when it is available.  More to follow once the consultation document is available...