UK accountancy firms are lobbying against expected tax reforms that could affect partnership structures. Chancellor Rachel Reeves is anticipated to announce these changes in the upcoming Budget, potentially impacting around 200,000 individuals and generating £1.9bn a year. Firms fear increased tax rates, with discussions already underway with government ministers to clarify intentions. Some partners are considering alternative business structures to mitigate tax impact, including relocating services outside the UK. The industry is questioning the government’s plans and potential impact on competitiveness.

Read more at Yahoo Finance: UK accountancy firms lobby against anticipated tax changes