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Hedge funds review partnership structures after BlueCrest £200m tax defeat

Reported · Written up by our desk · Equity Funds

UK hedge funds are reviewing their partnership structures and negotiating with HM Revenue & Customs (HMRC) following BlueCrest Capital Management's £200m Supreme Court defeat, which has raised the prospect of substantial backdated tax liabilities across the industry, according to a report by the Financial Times. HMRC has resumed investigations into several City firms following the landmark ruling, prompting hedge funds, consultancies and law firms structured as limited liability partnerships (LLPs) to reassess the tax status of their partners. The Supreme Court unanimously dismissed BlueCrest'

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Sources

HedgeweekHedge funds review partnership structures after BlueCrest £200m tax defeat

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