Myners calls for 40% private equity tax

Former M&S chairman Paul Myners has called on the government to tax
private equity partners at 40% instead of 10%.

In a submission to the Treasury Select Committee, which is investigating the
private equity industry, Myners said carried interest payments to partners that
currently are only taxable at 10%, if held for two years, should be taxed at

He said the payments were income related to employment and should be taxed at
the appropriate marginal rate, reported
Daily Telegraph

Carried interest was a ‘bonus’ for performance as opposed to risk taking,
said Myners, and should be treated as income in the same way bonus payments are
treated to employees.

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