The UK Chancellor of the Exchequer gave his Autumn Statement earlier today in anticipation of his final Budget before the General Election next year. For private equity and other fund managers, the main takeaways are:
- potential limitations on planning arrangements relating to management fee income;
- the introduction of limitations over time that will impact the tax efficient use of leverage; and
- for long-term non-domiciliaries an increased cost to the use of remittance basis.