UK to crack down on private equity tax breaks

Discussion in 'Wall St. News' started by ASusilovic, Oct 9, 2007.

  1. Alistair Darling will on Tuesday launch a crackdown on tax loopholes in a mini budget. The chancellor will announce plans to tackle elements of the tax system used by the private equity industry; the super-rich taking advantage of non-domicile status; and small family businesses that distribute profits among relatives. Tax experts expect him to tighten rules to raise revenue. He is expected to set out plans to tackle the private equity industry’s use of tax reliefs on shareholder debt in their highly leveraged deals.

    Aj, aj, aj...Sometimes it´s wiser to pay same taxes as your cleaner does...:D