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Another reversal in how the Govt. treats/regulates financial services.

Last year the HMRC changed its guidelines on the taxation of limited liability partnerships - the favoured organisational structure of Private Equity - to increase the likely tax yield, leading to the opening of investigations into back tax owed.

Now, this change is being reversed after PE & Treasury lobbying/engagement to remove the 'threat'.

Once again, its pretty clear whose side Labour is on.

#FinancialServices
h/t FT