Private equity leaders have expressed their hope that the review of how the
industry is taxed, announced by economic secretary
Ed Balls , will bring a
close to the controversy that has clouded firms recently.
Industry body, the British Venture Capitalist Asscociation, said the
proposals announced by Balls, which will explore the use of shareholder debt in
highly-leveraged deals, would hopefully take the heat out of the recent debate
on the merits of the industry.
‘We look forward to to contributing to the review,’ the BVCA told
the FT in a
Paul Kenny, general secretary of the GMB Union, one of the most aggressive
private equity opponents, welcomed the review.
Kenny said: ‘Ed Balls confirmed that there are rules to ensure that equity is
not disguised as debt to in order to obtain a tax deduction.’
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states