Private Equity Firms Push Deals Through to Beat U.K. Taxman

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Another sign of strong returns as Private equity firms race to sign deals before a potential increase in U.K. taxes in Wednesday’s annual budget

British ministers have warned that a range of taxes could soon rise to help fund the country’s coronavirus support program. The government has already consulted on overhauling capital gains tax and carried interest, a type of performance fee charged by private equity fund managers.

“We are seeing sellers trying to get deals closed by budget day in case there is a capital gains tax increase,” said Andrew Mills, head of mergers and acquisitions at MJ Hudson Law.

Private-equity clients have been pushing their advisers to get sales done before the budget is finalised, according to two deal advisers, who asked not to be named describing private discussions. Divestments of private equity-owned firms in January and February were at the fastest pace in three years, according to data compiled by Bloomberg. Source:

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