The legal industry is urging the Chancellor to row back on her proposed tax increase on limited liability partnerships (LLPs) warning the move could further harm an already over-burdened sector. The Law Society, representing over 200,000 lawyers, warned the move would “undermine the growth agenda the government is working to deliver.” Law Society vice president, Brett Dixon, said: “The legal sector is already contending with major regulatory changes in anti-money laundering and compliance, as well as significant pressure from HMRC’s evolving approach to tax advisor regulation.” The City of London Law Society echoed these concerns, stressing the need for consultation before implementing tax changes that could undermine English law’s global reputation.
Lawyers warn against LLP tax hikes
21 responses to “Lawyers warn against LLP tax hikes”
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