A bill proposed by the US House of
Representatives in June that would sharply increase the tax rate for venture
capitalists has set alarm bells ringing.
It proposes that the 20% fee that VCs collect on their profits, which is
currently taxed at the capital gains rate of 15%, be taxed at the ordinary
income rate of up to 35%.
The higher tax would apply to venture capital, along with private equity and
hedge funds and similarly structured funds for real estate and oil and gas
capitalists have launched a lobbying campaign to convince lawmakers the bill
has the potential to dampen entrepreneurship, put the US at a competitive
disadvantage, and drive the brightest graduates a way from a business that
bootstraps risky start-ups and nurtures new technologies.
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Does Darwin's theory apply to taxation? Colin ponders...