Daniel Lewin Quoted in PLC Tax on June 2010 Budget

Daniel Lewin, Partner in the Tax Department, was quoted in the article "June 2010 Budget: the second half," which appeared in the June 23, 2010 edition of PLC Tax. In the article, leading tax practitioners were asked what they saw as the key points of interest for business in the UK's June 2010 Budget. Mr. Lewin commented: "As expected, there are a number of tough measures in the Budget, not all of which will be popular, but the straight-forwardness of many of the measures is a positive compared to the complexities we had become used to in more recent Budgets. Raising the maximum capital gains tax rate to 28% was obviously not as high as feared, which is relatively good news for the asset management industry given the pre-Budget announcements, although the increased VAT rate will add cost to some managers and with a 28% capital gains tax rate, we are now at the higher end of our peer jurisdictions."