Accounting and law firms are asking senior partners to invest at least a quarter of their salary in order to carry on being taxed as self employed.
The changes are in response to new tax rules for limited liability partnerships which are intended to stop partners pretending that they are self employed to avoid tax.
Partners need to pass at least one of three tax tests to carry on being taxed as self employed.
A partner will be considered an employee for tax purposes if: 80% or more of their pay is guaranteed; the partner does not...
About Nick Huber
I’m a specialist business journalist and have a particular interest in tax and technology.