The Liberal Democrats have vowed to close “unfair loopholes” in limited partnership firms as part of the party's efforts to tackle the remaining deficit fairly.
Speaking at the party conference in Glasgow this week, chief secretary to the Treasury Danny Alexander pledged to continue targeting the “wealthy” in its efforts to raise taxes.
He said the government will start by closing a loophole that allows partners to classify part of their earnings as eligible for corporation tax.
The Treasury believes this is used extensively by the...
About Robert Lovell
Business and finance journalist