£2bn tax raid on wealthiest

RACHEL Reeves is likely to make a £2billion tax raid on some of the nation's wealthiest people.

- BY ALEXANDER BROWN Assistant Political Editor

The Chancellor is expected to use November 26's Budget to bring in a new charge on those who use limited liability partnerships.

Typically used by lawyers, family doctors and accountants, the partnerships offer a tax benefit to more than 190,000 people. It means they are not subject to employers' national insurance, because partners are treated as being self-employed.

The Centre for the Analysis of Taxation found that solicitors receive a fifth of all partnership income, averaging £316,000 each in company profits a year.

For GPs, the average is £118,000 and for accountants it is £246,000.