# Finance Act 2014, Paragraph 2


In Part 17 of CTA 2009 (partnerships) after section 1273 (limited liability partnerships) insert—
“Limited liability partnerships: salaried members
1273A (1) Subsection (2) applies at any time when section 863A(2) of ITTOIA 2005 (limited liability partnerships: salaried members) applies in the case of an individual (“M”) who is a member of a limited liability partnership in relation to which section 1273(1) applies.
(2) In relation to the charge to corporation tax on income, for the purposes of the Corporation Tax Acts—
(a) M is to be treated as being employed by the limited liability partnership under a contract of service instead of being a member of the partnership, and
(b) accordingly, M's rights and duties as a member of the limited liability partnership are to be treated as rights and duties under that contract of service.”

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Source: https://www.legislation.gov.uk/ukpga/2014/26/schedule/17/paragraph/2 (the official version)
Page: https://openlegislation.uk/finance-act-2014/schedule-17/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.