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Carried Interest Tax Advantage Faces Legal Challenge in United Kingdom

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Carried Interest Tax Advantage Faces Legal Challenge in United Kingdom

  • By Danish Mehboob

A nonprofit law firm and a UK businessman have filed a legal challenge against the UK tax authority, arguing that private equity managers should be taxed at a higher rate. The challenge seeks to end the practice of taxing carried interest as a capital gain at 28% instead of income at above a 40% rate.

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