Guy Hands threatens offshore move
The latest tax changes have prompted a threat from Guy Hands to move part of his private equity group offshore
The latest tax changes have prompted a threat from Guy Hands to move part of his private equity group offshore
The tax changes in the
2008
Budget has prompted Guy Hands, the founder of
Terra Firma,
to warn an offshore move for part of his UK-based private equity group, which
owns EMI and the Odeon/UCI cinema chain.
The group is reviewing the expansion of its overseas operations in response
to the tax changes, according to The Times.
‘Such trends in UK taxation, making the UK a less competitive financial
centre than it was, have caused us to review our UK activities and may result in
future growth being pursued through our other European offices,’ Hands said in
his annual review released yesterday.
‘Taxing long-term capital gains more like annual income will encourage
businesses to be less long-term in their approach and will undermine one of the
biggest benefits of private equity investment.’
Further reading:
Stewart in the hunt for starring role at ITV
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceThe upcoming tax changes in 2024 will significantly impact businesses and individuals in the UK. Accountants play a crucial role in helping clients na...
View articleUHY Hacker Young and audit engagement partner Martin Jones face fines of more than £300,00 following Laura Ashley audit breaches. Read More...
View articleIt is hard to argue that the Taxes Management Act 1970 (TMA), wouldn’t benefit from some substantial updating. It came into force back in the mists of...
View articleMorton became Tax Director of the Office of Tax Simplification, an independent office of HM Treasury, in 2017 Read More...
View articleThe Low Income Tax Reform Group believes the government should have included tax initiatives in its plans for disabled people and employment Read More...
View articleThe Upper Tribunal has rejected an appeal from HMRC in a case relating to the taxation of termination payments made to football player employees of To...
View articleThe revised guidance sets out the circumstances under which trustees need to disclose the identities of beneficiaries to HMRC Read More...
View articleAlthough the concept of a £1,000 tax-free allowance sounds very simple, there are a number of complexities of which taxpayers and advisers need to be ...
View article