Information shortfall

I have several clients who have invested in various types of private equity funds.

I find that the quality and accuracy of information received from the private equity houses regarding the tax figures for income tax and capital gains tax purposes vary greatly.

In some cases I need to call the private equity manager and extract the information case by case because they do not prepare this as a matter of course even if the investors are partners in the fund.

Is there legislation or guidance that might be relevant in such cases?

For example is there any enforceable obligation on these private equity managers to provide coherent timely and accurate tax information for their investors?

Query 18 590 – The Saint

Reply from Aldous

Private equity funds invest in companies that form the fund’s portfolio. The fund itself receives investments from sources such...