A senior private equity figure has criticised lax capital gains rules that
allow industry chiefs to ‘[pay] less tax than a cleaning lady’.
Nicholas Ferguson, the chairman of SVG Capital, made the comment in an
FT today. The comments are unusual, with the industry having
battened down the hatches since trades unions launched attacks on their tax
The rules allow capital gains on shareholdings to fall to 10% after two
‘I have not heard anyone give a clear explanation of why it is justified,’
The comments will almost certainly give rise to calls for the government to
change the tax status of private equity.
review is currently underway of the treatment of debt and equity in buyouts.
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
Government's estimate of a £400m admin saving from Making Tax Digital is way off - and is instead a huge cost burden, warns Lamont Pridmore chief executive Graham Lamont
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year