PBR: CGT reform sparks private equity criticism

The Chancellor's plans for capital gains tax reform have sparked criticism from the private equity ca...

The Chancellor’s plans for capital gains tax reform have sparked criticism from the private equity camp, which has accused the Government of reneging on its promises. John Watson is a partner in the tax department of law firm Ashurst, specialising in private equity buyouts. He commented that the Government¹s original aim in introducing the 10% taper relief tax was to encourage investment. “People who were encouraged to invest by being told that they would pay tax at 10% on their gains will now pay 18%. This is an unfair and unpleasant surprise.” Meanwhile accountancy firm Grant Thornton s...