BusinessCompany NewsTax havens used by Qinetiq investors

Tax havens used by Qinetiq investors

Company set to make hundreds of millions out of Qinetiq flotation uses offshore tax havens

The US private equity house that stands to earn hundreds of millions of
pounds from the flotation of Qinetiq, the taxpayer-funded former MOD research
company, has registered its shareholding in an offshore tax haven.

According to reports in The Guardian, the investment vehicle used by
Carlyle to invest in Qinetiq is a UK-based limited partnership that contains a
number of special-purpose investment vehicles based in Guernsey. And these will
not be liable for tax when Qinetiq goes public.

Tax-efficient structures such as this are commonplace in the world of private
equity, but the news of Carlyle’s participation in them is likely to infuriate
political opponents of the government.

Sources close to Carlyle say that the company’s investment strategy,
including the offshore vehicles, was shown to the government and parliament
before it invested in Qinetiq.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor