Brits To Close Hedgie Tax Loopholes

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.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...