Financial rewards earned by private equity partners should in part be subject
to income tax, according to a senior US finance official.
Peter Orszag, director of the US Congressional Budget Office told Congress
that ‘most legal and economic analysis suggests that carried interest
represents, at least in part, a form of performance-based compensation for
services undertaken by the general partner’, the
The analysis will add fuel to the private equity tax debate raging on both
sides of the Atlantic.
Orszag warned that as long as there was a difference between the tax rate on
income and capital gains people will try to turn income into capital gain.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.