Partnership advisers warn LLP tax raid could harm key UK sectors

Partnership advisers have warned that proposed national insurance contributions on limited liability partnership profits would raise less than expected and could have wider economic repercussions.

In a statement issued today, the Association of Partnerships Practitioners, which represents partnership advisers, echoed calls from the Law Society and the City of London Law Society for Chancellor Rachel Reeves to hold a consultation before introducing any new tax on LLP profits.