Private equity player admits taxes too low

In the aftermath of the resignation of
chief executive of the British
Private Equity and Venture Capital Association (BVCA),
Peter Taylor,
managing partner of Duke Street
has publicly admitted that tax rates for private equity firms are
‘unnecessarily low’.

A report in the Daily Telegraph quoted Taylor ‘speaking
independently’ as saying tax rates could be higher without unduly harming

Taylor said he also believes the two-year period of taper relief could be

He added though that the issue relates to ‘the whole of capital gains tax,
not just private equity’.

‘The point should be whether people are taking genuine risks and have to
perform well over a number of years. If you are, then you deserve to get that
sort of treatment,’ he said.

Further reading:

Private equity body boss resigns in tax row

Brown ‘ready to stamp out private equity tax breaks’

Private equity facing ‘Custer’s last stand’ say unions

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