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Labouring Over the Loophole: The Labour Government’s Proposed Reform of Carried Interest Taxation

The Chancellor’s announcement on Wednesday that the UK’s capital gains tax (CGT) rate for carried interest would be increased by only a few percentage points from 28% to 32%, effective April 2025, was welcome news to many....more

UK Mini-Budget - Helpful for Asset Managers

The government’s 2022 Growth Plan, deceptively referred to as the “mini-budget,” has brought in notable changes likely to impact the funds industry. In particular, a number of the changes will help ensure the continued...more

New Obligations for Businesses Operating in the UK and Engaging UK “Consultants” from April 6, 2021

The United Kingdom (U.K.) currently operates certain off-payroll working rules (commonly referred to as IR35), which subject certain individuals (often operating as consultants to businesses) working through intermediaries...more

Budget 2021: Tax, But Only Half the Story

On March 3, 2021, the U.K. government announced its 2021 Spring Budget (the “Budget”) which contained a number of extensions to measures designed to support the country even after our expected emergence from lockdown. ...more

COVID-19 - Tax Considerations in Light of Travel Restrictions

The ongoing COVID-19 health crisis has resulted in significant changes to working practices in the United Kingdom (U.K.) and elsewhere. With a number of territories moving into aggressive suppression phases to halt the...more

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