Wednesday, 1 October 2014
Last updated 13 hours ago
May 31 2013 | 10:20am ET
British plans to limit tax avoidance could cost hedge funds dearly.
HM Revenue & Customs earlier this month announced plans to limit firms' ability to shield performance fees from taxation through limited liability partnerships. It also plans to limit profit allocations to corporate members, which are subject to a much lower tax rate.
The changes, should they come into effect, could cost hedge funds as much as US$20 billion per year.
Under the consultation document—issued as the U.S. and European countries seek to tackle offshore tax havens—HMRC would take on the practice of classifying employees as partners, as well as corporate memberships.
"It affects virtually everybody," Sigma Partnership's Joe Seet told the Financial Times. "Out of the 400-odd firms in London, more than 80% of them have these structures."
The consultation period for the proposal expires on Aug. 9. If approved, the new rules will come into force next year.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...