Johnston Press PLC Share News (JPR)

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BUZZ-UK Budget: Liberum latest to warn of interest tax change

Tue, 15th Mar 2016 11:37

** Liberum latest broker to warn a possible change in theway UK allows cos to claim tax breaks could hit highly-leveredstocks

** Government looking to cap tax breaks from interestpayments on debt at 10-30 pct of EBITDA. Link: http://bit.ly/1MgJSoO

** Liberum screens for stocks with the highest ratio ofinterest payments to EBITDA - Punch Taverns andEnterprise Inns both have interest costs over 50 pct of2016 EBITDA, with rest of the pub sector also likely to beaffected. Chart: http://reut.rs/1RjLvhR

** Utilities and retailers also among UK stocks with > 20pct interest/EBITDA ratios

** Broker says REITs and financials likely to be exempt

** Adds any rule change also likely to indirectly affectprivate equity firms with significant UK exposure - 3i,Electra and Intermediate Capital all mentioned

(RM: alasdair.pal.thomsonreuters.com@reuters.net)

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