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.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...