UK Drops Plans For Tax Crackdown On Buyout Firms, Accountancies

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UK Drops Plans For Tax Crackdown On Buyout Firms, Accountancies

UK tax officials have scrapped plans for a crackdown that would have impacted a wide range of private equity firms, marking a significant win for the industry under the new Labour government, Alex Wickham reported for Bloomberg News. Members of these partnerships who contribute a certain amount of capital—known as “top-ups” in industry terms—are considered self-employed, reducing the amount of National Insurance contributions their employers mus…