Lawyers warn Reeves: Don’t destroy £60bn industry over LLPs gambit November 4, 2025 The legal industry has slammed Chancellor Rachel Reeves’ proposed tax hike on LLPs, saying the move “could harm one of the UK’s most globally competitive sectors.” As she aims to fill the fiscal black hole, Reeves is reportedly targeting limited liability partnerships (LLPs) for a tax raid for the first time. The LLP model, used [...]
Lawyers to rethink personal tax structures as Reeves set to target LLPs October 28, 2025 Chancellor Rachel Reeves’s proposed tax raid on LLPs may force partners to work longer or reconsider their retirement plans, with significant financial implications for many professionals. It was reported last week that Reeves is targeting limited liability partnerships (LLPs) in a tax raid as she tries to fill a fiscal black hole. The proposed 15 [...]
Reeves’ LLP tax raid will trigger an exodus of family doctors October 24, 2025 Rachel Reeves plan for a tax hike on partnerships will decimate the GP workforce – and her government’s plans to turn the NHS around, says Katie Collin We’re now a month nearer to Reeves’ second Autumn Budget, and the speculation has come thick and fast. But of all the tax raids potentially on the horizon [...]
Treasury’s LLP tax proposal could add £46,000 burden per partner October 23, 2025 Law firms’ partners could face an additional £1.4bn in tax each year if the Treasury goes ahead with imposing a 15 per cent rate of national insurance contributions on LLPs. According to data provided by HMRC to UHY Hacker Young, partners of law firms made a total of £9.2bn in profits in the latest year. [...]
Lawyers sound alarm over Rachel Reeves’ proposed tax target on LLPs October 22, 2025 The Chancellor is reportedly looking to target limited liability partnerships (LLPs) for a tax raid as she tries to fill the fiscal black hole, but critics warn that this move will have consequences for the professional services sector. The LLP model, used by professional services such as law firms, accountancy, and some doctors (GPs), came into force [...]
Government backtracks on tax hike for private equity firms February 18, 2025 The government has reversed a decision to hike taxes on private equity firms by ditching changes to the tax treatment of members at limited liability partnerships (LLPs). The new guidelines, which were released last year, targeted salaried members on what tax contribution they pay, which affected the partner compensation at most firms. Before the new changes, members [...]