MBOs/MBIs & Private Equity

Recent Articles

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  02/04/2025

  United Kingdom

  Economic Crime and Corporate Transparency Act 2023: Launch of the Identity Verification Regime

  The Government’s new identity verification (IDV) regime for directors and controllers of UK companies launches on 8 April 2025. The regime will also apply to members and controllers of limited liability partnerships (LLPs) and, more narrowly, to limited partnerships and overseas companies with an establishment in the UK. The IDV regime is part of the package of reforms contained in the Economic Crime and Transparency Act 2023 (ECCTA) aimed at tackling economic crime and preventing the abuse of corporate structures by enhancing the transparency of corporations and those that control them.Until...

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  15/01/2025

  China

  2025 – Topics that may Concern You

  Companies doing business in China constantly have to deal with changes in regulations and new laws. This will also continue in 2025.Topics such as the new PRC Company Law, new PRC Tariff Law, PRC Regulations on Export Control of Dual-Use Items, network data security management, data transfer, opening up capital markets to foreign investment, and raise of statutory retirement age of employees etc. will continue to be a concern for many companies in China in 2025.Complying with regulatory requirements is one of the key challenges for foreign companies and investors in China, not only in terms of...

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  12/12/2024

  United Kingdom

  UK Tax Disputes Digest (Winter 2024)

  Welcome to the Winter 2024 edition of our UK Tax Disputes Digest: a high-level summary of key developments in contentious tax over the last few months for heads of tax, finance directors, general counsel and other in-house professionals.As with previous editions, we have seen a continued increase in HMRC activity across various areas. Both individual and corporate taxpayers would be well-advised to check their tax position as soon as possible to prepare for any potential HMRC investigation into their tax affairs.In this edition, we look at just a few of these developments, including in relation...

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  31/10/2024

  United Kingdom

  Autumn Budget 2024 - carried interest reform

  In line with its election manifesto the new Labour government will amend the tax treatment of carried interest.From 6 April 2025 until 5 April 2026 there will be an interim increase in the special capital gains tax (“CGT”) rate for carry from 28% to 32%.From 6 April 2026 carried interest will be taxed under the income tax regime and also subject to national insurance contributions (“NICs”).  Where a carried interest meets certain qualifying criteria a 72.5% multiplier will apply lowering the effective additional rate of income tax from 45% to an effective rate of 32.625%...

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  28/10/2024

  United Kingdom

  The Economic Crime and Corporate Transparency Act 2023: Companies House publishes timetable for im­ple­ment­a­tion

  Companies House has published its much awaited plan (Transition Plan) for implementation of some of the key provisions of the Economic Crime and Corporate Transparency Act 2023 (ECCTA) not yet in force. Delivering the Transition Plan still requires significant investment in terms of Companies House systems and processes, as well as Parliamentary time to enact further secondary legislation. As a result, the new provisions are to be implemented in phases with Companies House anticipating that it will take until 2027 to complete.BackgroundThe ECCTA was enacted as part of Government efforts to combat...

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  24/09/2024

  United Kingdom

  The taxing question of carried interest

  This article previously appeared in Thomson Reuters Regulatory IntelligenceWhilst it is a political decision as to how carried interest is taxed, there is some confusion in the Treasury’s suggestion in the Call for Evidence “that the current tax regime does not appropriately reflect the economic characteristics of carried interest and the level of risk assumed by fund managers in receipt of it.”In our experience, most carried interest is structured in accordance with paragraph 8 of the Memorandum of Understanding (MOU) between the British Private Equity & Venture Capital Association...

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