Take-privates in the Netherlands have become subject to new rules, which have far-reaching consequences, says Victor de Vlaam of Lovells.

The expense of continental Europe’s complex tax regulations can be minimised with some advance planning, says Damien Crossley of Macfarlanes.

If the effects of the credit crunch were ever to trickle down to the mid-market, there could well be a silver lining, says Roger Gregory of Nabarro.

It was much anticipated, and not a trifle feared, but the Walker review contained few surprises, says Simon Sale of Dundas & Wilson.

Mooted changes to the tax treatment of taper relief on carry could well impact holders of loan notes. But, says Tom Daltry of Eversheds, pre-emptive action can be taken.

Buyout houses are attempting to avoid post-completion haggling on exit through “locked-box” mechanisms, says Bobby Reddy of Latham & Watkins.

Trade receivables securitisations offer a low-cost funding alternative to highly leveraged buyouts, say Mark Nicolaides, Gero Schreiber and John-Patrick Sweny of Latham & Watkins.

The UK is undoubtedly the leading centre for private equity in Europe, but 2007 looks set to be the year when the government finally clamps down. There are taxing times ahead, says peter Bartram.