As the chancellor, Rachel Reeves, reportedly considers a £2bn tax rise among wealthy professionals1 to help plug an estimated £30bn hole in the UK’s finances, we explain how some GPs could be affected, with some experts saying that they could take a £6000 hit to their pay.
What’s the speculation?
The prospect that Reeves could raise extra revenue from “partnerships” in the professional services sector and GP partners could be in her sights. Such partnerships are not currently subject to employer national insurance contributions (NICs) of 15% like other businesses, as they are treated as self-employed.
The absence of any equivalent to employer NICs on partnership profits arguably makes the tax system unfair and inefficient. Reeves has said that “those with the broadest shoulders” should pay their “fair share of tax” as the government tries to tackle a budgetary black hole.
Who supports change?
The Centre for the Analysis of Taxation (CenTax). In a policy report published in September 2025 and sent to the Treasury for consideration, the research centre said that levying “partnership NICs” would boost economic growth and raise an estimated £1.9bn in 2026-27.2
The Resolution Foundation think tank has …
