A string of high profile names have rushed to sell up to beat the near
doubling in capital gains taxes on business assets, from 10% to 18%, which went
live this weekend.
Nursery chain Kidsunlimited, shoe retailer L K Bennett, tobacco wholesaler
Palmer & Harvey and insurance tycoon Peter Cullum were among those who
scrambled to beat the new rules.
Husband and wife Stewart and Jean Pickering, sold their entire stake in
Kidsunlimited, as did their backer, Isis Equity to Lloyds Development Capital.
1,500 employees at Palmer & Harvey celebrated a £300m buyout of their
Peter Cullum speeded up the sale of a £100m stake in his insurance firm
Towergate to US hedge fund Och-Ziff, and fashion entrepreneur Linda Bennett is
currently in talks to find a buyer for her shoe chain, thought to be worth up to
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