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An overview from Travers Smith, Taxand UK
Private capital firms are facing a period of relative policy stability in the UK, but uncertainty remains over how the new government will approach future tax reforms. While speculation around increases to capital gains tax and the introduction of a wealth tax has yet to materialise, the government is under pressure to raise revenue and may revisit these measures in the months ahead. Encouragingly, ministers have continued to engage with the sector and have introduced reforms designed to support the UK’s attractiveness as a hub for alternative asset management.
At the same time, HMRC is stepping up scrutiny of executive remuneration, with recent Supreme Court victories signalling a tougher enforcement approach and an increase in tax investigations.
Elena Rowlands from our UK member firm, Travers Smith warns that these disputes can be costly, time-consuming and disruptive for private capital businesses. She argues that a more balanced approach to tax enquiries would help support the UK’s competitiveness and attractiveness to investors and talent. You can read her comprehensive overview here.
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