Corporate member of LLP
For tax saving purposes a client has been advised to set up a corporate member of an LLP and allocate a significant share of profits to the corporate member on the basis that this is a secondary source of income to our client. We assume the profit share will be subject to corporation tax. If and when necessary, and we do not expect any reduction in our clients level of PAYE/investment income circa £5m, how will the client extract the profit in a tax efficient manner bearing in mind the initial ct liability. We do not expect the corporate member to have any significant costs other than the tax advisers fee! Is this all worthwhile?