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Welcome to the March 2008 issue of Private Equity Update.
In this issue:
- As the 5 April, and the end of taper relief, fast approaches we set out some planning techniques that could help to ‘bank’ that 10% rate before it is lost forever – which may be useful if there are deals that may require more time to complete.
- We report on further changes introduced by the recent 2008 Budget to the new rules impacting on the taxation of “non-Doms”.
- Following a recent court case, some portfolio companies could be entitled to a VAT repayment if they have historically made VAT reclaims that have been time-barred to three years. A cash windfall may therefore be waiting to be claimed.
- We report on some recent developments that could impact on the recoverability of VAT on deal fees by bid vehicles.
We hope that you find this bulletin useful. If you would like further advice on any tax issues discussed in our update or any other private equity tax issues, please do not hesitate to contact Adam Frais, Tax Partner.
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