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Private Equity Firms Push Deals Through to Beat U.K. Taxman

  • British government has discussed changes to capital gains
  • Deals are being structured to lock in the current rate of tax
A pedestrian crosses the Millennium Bridge beyond the City of London.

A pedestrian crosses the Millennium Bridge beyond the City of London.

Photographer: Hollie Adams/Bloomberg

Private equity firms are racing to sign deals before a potential increase in U.K. taxes in Wednesday’s annual budget.

British ministers have warned that a range of taxes could soon rise to help fund the country’s coronavirus support program. The government has already consulted on overhauling capital gains tax and carried interest, a type of performance fee charged by private equity fund managers.