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06 Jun 2007
The talk about a clampdown on private equity tax rules is, it seems to me, raising hopes on the part of the unions that are likely to be disappointed.
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Ssurely all that's needed is to (re)introduce the 'full time working' requirement which has been a condition for this or similar reliefs in the past. Then entrepreneurs & business owners at whom BATR is aimed will still get it, but private equity executives will struggle because they have their fingers in lots of different pies, not just one. (OK they would still get non-business taper relief but that is much slower and less generous.)
Posted by: Tim McElwaine, 20 Jun 2007 | 09:57
That might work to a limited extent - though it would probably hit the kind of business angels who the chancellor is keen to promote.
The political distinction between the image of a business angel investing in small companies, promoting an enterprising Britain and all that, and those rapacious private equity execs who are carving up UK Plc for their own benefit (whether warranted or otherwise), is one that the Treasury and HMRC will have to translate into tax rules.
There must be some way it can be achieved, but I still can't quite see it.
Posted by: Alex Hawkes, 20 Jun 2007 | 11:52
I'd write well-written posts like this one but these days i never have time to do it
Posted by: extended warranties, 06 Sep 2010 | 19:34