The new capital gains tax incentive Chancellor John Healey unveiled in his Budget may benefit LLP firms in the professional services sector if they qualify, but it also risks disrupting partner dynamics within the firms. Haynes Boone Partner Alexandra Ueno-Park spoke with City AM about the effects on the professional services sector.
Read an excerpt below.
“The Chancellor’s decision not to target LLPs in today’s Budget will come as a relief to the UK’s legal and professional services sector,” Ueno-Park said.
She added the move “risked undermining the UK’s competitiveness, discouraging investment, increasing compliance burdens and making rival hubs such as New York and Singapore more attractive destinations for top talent.”
Read the full City AM article here.
