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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
@ChrisMayLA6 and last week ministers were claiming benefit claimants were the ones taking the mickey.
With this kind of government we need to worry about what Starmer will give away when he meets the tangerine tyrant
@ChrisMayLA6 Archived version of an FT piece on this here:
https://archive.ph/BjU9b