Taxing LLPs

Government proposals to change the tax regime for limited liability partnerships (LLPs) have attracted the ire of the Law Society. Under the proposals, the Treasury would raise extra National Insurance contributions by removing the presumption of self-employment from LLPs. Gary Richards, chair of the Law Society’s tax law committee, says: “This is a consultation where the underlying policy is difficult to discern. There is a real risk that measures to address perceived avoidance may render the UK an unattractive place for investment.”