Hogan Lovells has asked its non-equity partners to contribute up to £100,000 in capital to the firm in response to limited liability partnership (LLP) tax changes being brought by HM Revenue & Customs (HMRC).
April 03, 2014 at 09:25 AM
1 minute read
The original version of this story was published on Legalweek
Hogan Lovells has asked its non-equity partners to contribute up to £100,000 in capital to the firm in response to limited liability partnership (LLP) tax changes being brought by HM Revenue & Customs (HMRC).
Around 65 salaried partners at the firm will have to contribute between £60,000-£100,000 each to meet the new requirements. The firm has said that loans will be available from banks on the same terms as those available to equity members.
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