UK tax changes to hit prices paid for LBOs

Private equity firms may be less willing to pay high prices for UK companies, after the UK's tax collecting authority last Friday closed a tax loophole that they have exploited in the UK.

  • 11 Mar 2005

The change by the Inland Revenue stops investors avoiding tax by structuring equity investments as shareholder loan notes.

Leveraged buy-out specialists were angry this week, as they were convinced the Inland Revenue had been happy with the way they were declaring their investments for tax.

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