Monday, 27 April 2015
Last updated 45 min ago
Dec 6 2013 | 12:43pm ET
The British government plans to close tax loopholes used by hedge fund managers.
As part of the government's Autumn Statement, Chancellor George Osborne said he would introduce rules to end abuse of partnership structures.
A treasury spokeswoman told Reuters that some hedge funds include corporate partners in their partnership structures which allows the companies' owners (usually the hedge fund managers themselves) to defer or avoid some income tax.
Some tax advisors warn the move might send hedge fund managers to low-tax domiciles like Swizerland and Luxembourg but others polled by the news agency said with the EU pressuring those countries to stop helping companies avoid income tax, an exodus of hedge fund talent from London was unlikely.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…