Consultancy giants EY and KPMG will not follow other “big four” firms and ban the use of controversial tax minimisation scheme, which allows partners to legally divert some of their income to family members.
The scheme – known as an Everrett assignment – allows a partner to allocate a portion of their financial stake in a firm’s assets to a spouse. This could reduce their overall tax burden, especially if the spouse has no other income and is within a lower tax band.
