UK Targets Hedge Fund Tax Loopholes In Tax Evasion Fight

Law360, New York (December 5, 2013, 8:22 PM EST) -- The British government is furthering its crackdown on popular tax loopholes used by hedge fund managers and will push forward proposals that will prevent such funds from using limited liability partnerships to obtain lower tax rates, it said Thursday.

Investment fund managers operate as partnerships in order to disguise employment relationships and obtain optimal tax rates, but the government's newly-released Autumn Statement said it is clamping down on the practice as part of an aggressive agenda targeting tax evasion in the nation.

“The vast majority of...
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