Private equity – Taxing issues

Simon Walker, new CEO of the British Private Equity and Venture Capital Association (BVCA) argued the case for private equity in its New Year message and criticised aspects of the UK's tax system where they affect entrepreneurs. In particular, the proposal to raise capital gains tax rates to 18% from April will leave Britain with a rate "higher than most European countries", and will damage competitiveness especially in the smaller companies sector. “CGT is not as good as it could be. The UK’s competitive advantage is being eroded,” he said in an interview in Real Deals magazine.