Law Society urges government to rethink LLP proposals

The legal professional body warned that the HMRC proposals were premature and risked creating uncertainty which will impact the UK's reputation as an attractive business location. The government's consultation, which will close tomorrow, proposed to challenge the assumption that all individual LLP members in a firm are self-employed, which allowed them to pay less in income tax and national insurance contributions (NIC). It was borne out of chancellor George Osborne's Budget 2013, in which he announced he would tackle tax avoidance in LLP structured firms. Law Society tax law commi...