PBR 07: Private equity hammered by Darling
Darling plans to squeeze PE loopholes
Private equity has been targeted by Alistair Darling in his pre-Budget
report.
Capital Gains tax breaks will be set at a minimum of 18% by next April, the
chancellor said. Private equity chiefs have enjoyed a tax charge on their
profits as low as 10% in the past.
The chancellor said that he would also be looking at the code of conduct for
private equity, rolling out ‘much-needed steps to increase the transparency and
disclosure’ in the sector.