Want to create an interactive transcript for this episode?
Podcast: A Long Time In Finance
Episode: The Great Private Equity Tax Swindle
Description: In 1987, the emerging private equity industry successfully lobbied the government to slip them a tax break. It allows private equiteers to take huge bonuses from the appreciation of client funds they invest in buyouts (a wedge called "carried interest"), and pay a preferentially low rate of tax on these earnings. Now HMRC may be thinking again. We talk to tax expert Dan Neidle about the origin of this boondoggle and why - as a matter of actual law, let alone fairness - it's never been justified, and why the government should now clarify the position.Presented by...