The head of Alchemy Partners, Jon Moulton, has said that the current private
equity boom was sparked by Gordon Brown’s removal of dividend tax credits in
Moulton – well-known for his forthright views – issued the broadside as he
was grilled by the
select committee yesterday.
At the hearing, Moulton said: ‘Debt became more favourable in the UK when the
tax credit was taken off dividends. The system has been changed to favour debt
Moulton claimed that Gordon Brown’s decision had fuelled the massive growth
in debt-financed buyouts of public companies.
His comments are set to fuel the controversy over the credits, which had been
available to company pension funds, but their removal has been blamed for the
loss of billions of pounds to schemes and the closure of final salary-based
pensions at blue chip UK companies.
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
Accountancy Age Jobs is delighted to announce the launch of a brand new look website for finance and accountancy professionals
The UK gender pay gap will not close until 2069 unless action is taken to tackle it now, according to new research by Deloitte
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy