UK eyes specter of higher tax on private capital

First up: This Friday is the final deadline to submit responses to our Inaugural Private Funds Leaders Study! The survey takes 10 minutes and submissions are confidential. Take the survey here.

Tax: Daniel Parry, managing director in the tax team at Alvarez and Marsal Taxand UK, argues that, despite pressure to raise money in the aftermath of Brexit and the pandemic, UK Chancellor of the Exchequer Rishi Sunak needs to make certain that changes in tax rules don’t exacerbate a recent trend of fund managers moving to friendlier tax climes like Italy and Portugal. Higher capital gains, inheritance and gift tax could combine to result in a flight of private capital “we’ve not seen before,” he says.

Email prepared by Graham Bippart