Ft.com headline from today 'HMRC ditches crackdown on private equity tax UK tax authority rows back on changes to whether limited liability partners can be seen as employees' ' Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour. https://www.ft.com/content/971f552a-c566-4735-b7aa-1505f09ee151 After industry lobbying and as the UK government seeks to reset relations with business after a backlash caused by the Budget in autumn, HMRC contacted several professional bodies earlier this month confirming it intended to reverse course. “The amended guidance will, in effect, reverse the changes that were made in February 2024,” HMRC said in the email, which has been seen by the Financial Times. The change was welcomed by the British Private Equity & Venture Capital Association and the Chartered Institute of Taxation." https://www.ft.com/content/971f552a-c566-4735-b7aa-1505f09ee151
Linkedin page showing Luke Sullivan as Director of Public Affairs at Portland. Previously he was in the Labour party for 14 years, most recently as Political Directr, Leader of the Opposition since 2021. https://www.linkedin.com/in/luke-sullivan-217254210/?originalSubdomain=uk
From BVCA's website: 'The British Private Equity & Venture Capital Association (BVCA) has been the voice of private capital in the UK for four decades. We support our members to help companies grow and achieve their long-term ambitions, creating value for the country both economically and socially.'
Today we learn the HMRC is ditching its crackdown on private equity tax. It just happens that Starmer's political director Luke Sullivan joined the political lobbying firm Headland in 2024. Headland represent BVCA, the British Private Equity & Venture Capital Association.
#LabourLobby #RevolvingDoor
