CMS Cameron McKenna has become the latest firm to call upon its fixed-share partners to make a substantial contribution of capital in light of HM Revenue & Customs’ (HMRC) recent overhaul of the way partnerships are taxed.
Members of the junior partnership that fall into band one of the firm’s four-tiered remuneration structure have been asked to contribute around £35,000 to £50,000 each. With 90 partners in this bracket, this means a total capital investment of up to £4.5m.
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