All this stuff about carried interest and capital gains tax. All along I\’ve been wondering how you could change CGT in a mannerthat deoesn\’t hit entrepreneurs but does the private equity barons. Not that this is what I want to do, but it is what many seem to want to do. Today\’s proposals:
In an announcement to the Commons, the chancellor is expected to introduce a special tax rate for entrepreneurs, although he will not budge on the rest of his reform. The Federation of Small Businesses has campaigned for a special rate of 9% on the first £750,000 worth of gains over a lifetime, and Darling\’s special rate is expected to be close to this.
Still don\’t see how carried interest won\’t qualify for that rate.