TaxCorporate TaxBrown to ‘deal with private equity’

Brown to 'deal with private equity'

Changes to come in pre-Budget report

Next month’s pre-Budget report will
see the prime minister get tough on private equity taxation after he announced
that he would close some of the tax loopholes enjoyed by private equity
companies.

This was revealed when Gordon Brown responded at a question and answer
session at the Labour conference, hosted
by the TV presenter
Mariella Frostrup.

The prime minister told his audience: ‘Private equity will be dealt within
the PBR. I can assure you that we will do so.’

The announcement is likely to come on the same day as the comprehensive
spending review.

However, the Guardian reported the timing of the joint announcements
was likely to be affected by Brown’s decisions on whether to call an election.

Further reading:

Private equity groups may quit UK over new tax rules

US takes cautious route on private equity tax

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