News
Environment, Food and Rural Affairs Select Committee report published
The cross-party Environment, Food and Rural Affairs Select Committee has published the report of its inquiry into “The Government’s Vision for Farming,” to which CenTax Director Dr Arun Advani gave oral evidence on 11 December 2024.
Exchequer Secretary welcomes launch of CenTax and commends its rigorous analysis and contribution to policy-making
Exchequer Secretary to the Treasury James Murray MP was the keynote speaker at a Parliamentary reception held on 11 November 2024 to officially launch the new Centre for the Analysis of Taxation (CenTax).
Event report: CenTax makes party conferences debut
CenTax was represented at both Labour and Conservative party conferences this autumn by Dr Arun Advani, who took part in two panel discussions.
Policy Brief: Ten Key Facts about Carried Interest
The Centre for the Analysis of Taxation (CenTax) has published a new policy brief, Ten Key Facts about Carried Interest.
Carried interest (or “carry” for short) is one of the main forms of pay in the private equity industry. The tax treatment of carried interest is highly controversial. The paper is believed to be the first independent study on this topic. The authors provide new quantitative evidence on carry recipients using representative data, to help set high-profile anecdotes in context.
Policy Report: Reforming the Taxation of Carried Interest: Revenue Modelling
In this new Policy Report, CenTax assesses how much revenue could realistically be raised from increasing the tax rate on carried interest. This debate has so far been distorted by a lack of quantitative evidence on key characteristics of the carry population relevant to their mobility, with public discourse instead driven exclusively by anecdotes and assertions from industry insiders. This report aims to provide a corrective based on analysis of de-identified tax data covering all individuals who received carried interest between 2017-2023.
News release: A quarter of £10 million+ estates pay less than 9% Inheritance Tax
A new CenTax report finds that a quarter of estates worth over £10 million pay less than 9% Inheritance Tax, thanks to uncapped exemptions and reliefs.
One in six estates worth over £10 million currently pay an effective tax rate of less than 4%, even among estates not eligible for the (uncapped) spouse exemption, whilst another quarter pay close to the 40% headline rate of Inheritance Tax (IHT). These huge disparities are driven by the use of allowances, exemptions and reliefs, including Business Relief, Agricultural Relief.
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