UK Drops Plans for Tax Hike on PE Profits


Tax partner Kevin Cummings talks to Pitchbook about the UK government laying aside a proposed change in capital gains tax rates that would have taken a bigger chunk of private equity profits.

“This is a real boon for the private equity industry,” said Kevin, praising the government’s decision. “There’s been widespread paranoia that carried interest would lose its preferential treatment and be taxed instead as ordinary pay at rates of up to 47%.”