NI contribution hike for LLP partners to be ruled out in UK Budget

UK Chancellor of the Exchequer Rachel Reeves has ditched the plan of increasing national insurance contributions for partners at law and accountancy firms in the upcoming Budget, reported Financial Times, citing people familiar with the fiscal planning discussions. The move to introduce higher national insurance contributions from limited liability partnerships had been anticipated to generate £2bn, but the plan has reportedly been abandoned following Treasury analysis. Treasury modelling indicated that ...