The rumoured introduction of employers’ national insurance contributions (NICs) on partners’ profits would undermine the limited liability partnership (LLP) model in the UK which has been such a significant contributing factor in the growth of the professional services sector.

The Limited Liability Partnerships Act 2000, introduced after consultation with the Association of Partnership Practitioners, gave professionals and entrepreneurs a lower risk flexible vehicle that allowed them to rapidly grow their businesses.

The LLP model was a groundbreaking innovation that addressed the limitations of existing business structures.