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11 July 2007
WILL SILSBY and IAN SMITH offer a novel contribution to the debate on private equity gains.
Key points
- Are all private equity investors entitled to BATR?
- Possible share purchase scenarios.
- Consideration of the 'badges of a trade'.
- Is there inequity in the 10% capital gains tax rate?
- Is an amendment to the BATR rules required?
- Alternatively is the investment a trading activity?
ONE OF THE most exciting things about working in the realms of taxation (stop reading now if you are not that sad) is how a seemingly simple question can have a complex answer. More worrying is the increasing regularity with which the honest answer to a tax question turns out to be 'Now why haven't I thought about that before?'
At such times it is easy to assume that:
(a) excessive exposure to taxation has finally taken its toll;
(b) everyone else in the...
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