Private equity companies have come under a fresh attack for enjoying tax breaks. This time it was the turn of merged firms Saga and the AA, which defended BBC accusations that they incurred zero liability for corporation tax last year. Saga, which sells holidays and other products to the over-50s, announced its merger with motoring giant AA last month, creating a company with more than 11,000 employees. Saga said in a statement that it was treated the same as any other UK company. “All companies that borrow money can deduct interest from their taxable profits. The economy benefits because banks which receive that interest are subject to corporation tax. “Saga has grown substantially under private equity and makes a valuable contribution to the UK economy in terms of jobs and services,” the company said. A number of private equity companies including Carlyle Group and Permira, which are behind some of the biggest UK takeover deals, including that of the AA, have appeared...


To view links or images in this forum your post count must be 1 or greater. You currently have 0 posts.

__________________
Pankaj Trivedi,
Administrator
TheIndiaJobs.com Forums