Private equity executives who only have to pay 10% tax on carried interest
they receive can reduce the tax they pay even further by taking advantage of a
20-year-old HMRC memorandum.
According to the FT the 1987 rule allows buy-out executives to
offset 20% of the initial price of the assets they buy against the already low
tax rate they pay on carried interest.
The inner workings of private equity have been exposed following intense
scrutiny from unions and politicians, who have criticised
the private equity firms of destroying jobs, avoiding tax and opaque governance.
Leading private equity heads from Blackstone, 3i, Carlyle Group and KKR are
all to answer questions on these issues at a Treasury select committee meeting
According to City A.M., select committee member Angela Eagle said
more firms were to be called before the committee in the future.
Steps the Treasury could take to tax buyout bosses at a
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
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