UK to Kill Private Equity Management Fee Waivers

The UK has proposed legislation that would kill private equity management fee waivers ("disguised fees" in UK parlance), effective  April 6, 2015.  In this country, private equity management fee waivers are listed (on page 21) of the 2014– 2015 Priority Guidance Plan, with guidance supposedly "imminent."

Prior TaxProf Blog coverage:

• Gregg Polsky, Private Equity Management Fee Conversions (Feb. 11, 2009)
• NY Times, A Tax Tactic That’s Open to Question (Sept. 14, 2012)
• WSJ, IRS Reviews Private Equity Management Fee Waivers (May 13, 2013)
• WSJ, Private Equity Firms Save Millions in Taxes by Treating Dividends as 'Monitoring Fees,' Says Polsky (Feb. 3, 2014)
• NY Times, Tax Expert Sees Abuse in a Stream of Private Equity Fees (Feb. 3, 2014)
• Gregg Polsky, A Compendium of Private Equity Tax Games (Nov. 24, 2014)