City minister pledges to work ‘together’ with private equity as tax hike looms The City minister pledged to work “together” with the private equity industry today but steered clear of mentioning a looming tax hike which could put the sector on a collision course with the Treasury. In a speech at the British Private Equity and Venture Capital Association’s (BVCA) annual summit, Tulip Siddiq said private capital would [...]
Reeves is right to squeeze private equity – but a sweeping capital gains hike will hurt the City, says Cavendish chair Investing The government is right to launch a raid on the profits made by private equity bosses but a sweeping hike in capital gains and inheritance tax could suck investment out of the City, the chair of investment bank Cavendish has warned. Lisa Gordon, who chairs the London-listed broking group, urged Rachel Reeves to be “more [...]
Reeves urged to soften private equity tax raid over fears of City exodus Investing City groups are mounting a final call for the Chancellor to temper a tax raid on private equity fund managers amid fears of an exodus of dealmakers from London. Rachel Reeves’s Treasury has been consulting on plans to lift the levy on carried interest, the personal profits that fund managers make on the sale of [...]
‘Bag ready’ private equity execs more worried about Reeves’ carry policy than Corbyn July 9, 2024 Private equity execs are "bag ready" to leave the UK to avoid Labour's carried interest policy, with some City lawyers giving more legal advice than then when Corbyn was leader, leading industry figures and advisers have said.
Private equity bosses have avoided paying income tax on a trillion dollars of gains June 13, 2024 “All the governments are talking about taxing carried interests. So my role is to provide the best estimate of the number,” Phalippou told the Financial Times.
Labour to close tax loophole for thousands of private equity investors June 9, 2024 Labour is set to close a loophole that enables thousands of private equity investors to avoid paying income tax if it wins the general election.