Milsted Langdon on a £200m Ruling Every LLP Should Read

The Supreme Court has settled a closely watched question for any business trading as an LLP: whether members drawing fixed, salary-like pay with little say in governance are truly self-employed partners, or employees in all but name. It has sided firmly with HMRC, ruling against BlueCrest and sending parts of the case back to the tribunal to apply the decision to individual members.

No.20 member Milsted Langdon has set out what the ruling means in practice, for accountancy practices, law firms, consultancies and property businesses alike: partnership agreements and remuneration arrangements need to genuinely reflect how a business is run, or risk a costly reclassification. Characteristically clear-eyed counsel on a case with real teeth. The full note is on the Milsted Langdon website.