Another reversal in how the Govt. treats/regulates financial services.
Last year the HMRC changed its guidelines on the taxation of limited liability partnerships - the favoured organisational structure of Private Equity - to increase the likely tax yield, leading to the opening of investigations into back tax owed.
Now, this change is being reversed after PE & Treasury lobbying/engagement to remove the 'threat'.
Once again, its pretty clear whose side Labour is on.
#FinancialServices
h/t FT
Last year the HMRC changed its guidelines on the taxation of limited liability partnerships - the favoured organisational structure of Private Equity - to increase the likely tax yield, leading to the opening of investigations into back tax owed.
Now, this change is being reversed after PE & Treasury lobbying/engagement to remove the 'threat'.
Once again, its pretty clear whose side Labour is on.
#FinancialServices
h/t FT
