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strikes me the profit allocation statements are moot.
HMRC can just ask, what did you get from the LLP each year? right, well that's what you owe tax and NI on.
doesn't matter what the profit allocation is, or if it's been offset in some way through acquisition or LLP accounts.
We're then...
oh dear oh dear. Not good reading here.
Having just registered interest for settlement of EBT Loans in FY 10/11, I'm wondering now whether I should be registering interest for settlement for the years since, where I've been receiving capital account payments?
Do HMRC consider LLPs as schemes...