Reports of AIM’s demise are premature. That said, for some time London’s junior market has not been fulfilling the purpose for which it had been designed, i.e. a nursery for high risk early-stage businesses with growth potential but which do not meet main market entry requirements, to access the growth capital they need – a…

April 2, 2025 Read more >

Along with the 2025 Spring Statement, HMRC has published a technical note on the tax implications for companies and employees when a company has shares traded on the Private Intermittent Securities and Capital Exchange System (PISCES). PISCES is a new type of secondary stock exchange that will facilitate intermittent trading of private company shares. It…

April 1, 2025 Read more >

Whilst some changes relating to employees have been well signposted for the tax year(s) ahead – such as the increase in Employers’ National Insurance Contributions to 15% from 6 April 2025, others have not. Having changes well signposted is important. For example, the increase of Employers NIC from 6 April means that companies could ensure…

March 28, 2025 Read more >

MM&K recently submitted responses to HM Treasury in respect of the most recent tranche of public consultation questions it had regarding proposed changes to Carried Interest. One of the core themes of these questions was around the connection between Carried interest and “Co-Investment” requirements – and how they might be linked going forwards. We submitted…

February 27, 2025 Read more >

MM&K has completed its 2025 Private Equity & Venture Capital Pulse Survey, providing an analysis of pay trends—including salary adjustments and bonus payments—across the UK’s private equity and venture capital fund management industries. The findings offer valuable insight into the evolving remuneration landscape, particularly for investment professionals, and set the stage for trends expected in…

February 25, 2025 Read more >

In 2000, a new entity was introduced in the form of Limited Liability Partnerships (LLPs). Significantly, unlike general partnerships, an LLP is a corporate body with an identity that is separate from its members but, generally speaking, transparent for tax purposes. Members of an LLP were presumed to be self-employed (like partners of general partnerships)…

February 24, 2025 Read more >

The FRC closed its consultation on the proposed new Stewardship Code on 19 February. MM&K responded as proposals focused on engagement with investors and the role of proxy advisers are matters that affect many of our clients. Here is a summary of our response to the questions posed by the FRC. 1.  Do you support…

February 19, 2025 Read more >

Changes made to the UK Corporate Governance Code (UKCGC) and the QCA Corporate Governance Code (QCA Code) kick-in this year. The new 2024 UKCGC applies to accounting periods starting on or after 1 January 2025 and the 2023 changes to the QCA Code, apply to accounting periods starting on or after 1 April 2024. Both…

January 29, 2025 Read more >

The danger of buzz words and phrases is that, for many people, they induce a negative reaction from a rolling of the eyes all the way up to visceral body pains. And this negative reaction can understandably lead a person not to engage with the topic. However, given the importance of an engaged workforce to…

January 28, 2025 Read more >

MM&K is the leading UK and European adviser in the field of private equity, venture capital, and infrastructure fund management firms’ compensation policies, structures, and levels. For over 29 years, we have advised numerous private equity, venture capital, infrastructure, and real estate fund management businesses—both captive and independent—on the design of remuneration policies and structures.…

January 27, 2025 Read more >

All at MM&K hope our clients, contacts, partners and other stakeholders enjoy a peaceful seasonal holiday break and we wish you a very happy New Year. We look forward to continuing our connections with all of you in 2025. A milestone passed 2024 has been a remarkable year. MM&K celebrated 50 years in business, a…

December 20, 2024 Read more >

SEMINAR ‘What’s the latest in the world of Private Equity, and how is it affecting PE Partners and Executives, Founders and Funds?’ February 11, 2025 18.00 – 19.15, followed by drinks (Registration from 17:30) Venue: Withers, 20 Old Bailey, LONDON, EC4M 7AN Details Join us for this exclusive IFSEA event tailored to Private Equity Partners, Executives, and…

December 20, 2024 Read more >