New tax on the sale of passenger rail franchise businesses

Department for Transport statement (about 2 pages) announcing that ministers will now seek to extract a "facilitation fee" of £1 million or 5 per cent of the sale proceeds (whichever is greater) in exchange for their consent to a change of control of a passenger railway franchise. This fee is in addition to the recovery of adminstrative costs of processing the application for consent.

For further information or advice please contact Franck Latrémolière.

Filed under DfT, Public transport.

Reckon LLP is an economics consultancy with expertise in data analysis, economic regulation and competition law.

About Reckon