Seminar | Tax

Finance Act 2003: The New Regime for Taxing Carried Interest and Management Shares
Thursday 2nd October 2003
at 222 Gray's Inn Road, London WC1X 8XF

SJ Berwin have pleasure in inviting you to a Breakfast seminar on the fundamental changes to the tax treatment of carried interest and management shares introduced by recent legislation.

Speakers
Jonathan Blake
SJ Berwin

Dominic Adams
SJ Berwin

Mark Hainsworth
SJ Berwin

Background
Schedule 22 of the Finance Act 2003 contains legislation which seeks to charge to income tax a broad range of shares, securities and other interests acquired in connection with employment. This seminar will provide an explanation of the changes and their implications for:

• carried interest awarded to private equity fund managers and
• managers' shares in venture capital or private equity backed companies

Timetable
08.30 Registration & continental breakfast
09.00 Seminar begins
10.00 Questions and panel discussion
10.15 Seminar ends (refreshments)

Programme
The speakers will outline the new regime and what it means for structuring private equity funds, buy-outs and venture capital deals.

Deals

• What is the impact on MBOs generally?
• How will managers' shares be treated?
• What about venture deals?
• What is the effect on ratchets?

• Are the 1987 Guidelines still in force?
• Should you make an election?
• What about carry awarded after the first investment has been made?
• What happens when carry is acquired from leavers?

Training
SJ Berwin is accredited as a provider of continuing professional development by the Law Society and other professional bodies. Attendance at this seminar qualifies as 1 CPD hour, quoting reference 012/SJBE.

RSVP

RSVP by e-mail to suzanne.clark@sjberwin.com including in the message your name and organisation and which date you would like to attend. Alternatively, reply by fax on +44 (0)20 7533 2000. Colleagues are welcome to come in your place, but please let us know if this is the case.

We send a weekly email on tax and legal matters relevant to the European private equity community. If you wish to receive this, please send your details to andrea.mackay@sjberwin.com