The Supreme Court has given its ruling in the case of
Vermilion Holdings Ltd v HMRC, the first case to go to the Supreme
Court on the meaning of the deeming rule in the employment related
securities (ERS) rules. That deeming rule can cause a security
acquired by an LLP member to be treated as employment related and
so within the ERS rules.
This is member's only content. If you are a member, read our analysis on the decision and its implications for the private funds industry.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
