Taxman reaches to trim hedge fund fees
Offshore management fees of hedge funds being scrutinised closely by the taxman
Hedge fund managers are being closely scrutinised by HM Revenue &
Customs amid suggestions of a crackdown.
The Financial Times says today that the practice of channeling
management fees to offshore jurisdictions is being examined. The fees, for
marketing or other services, have to be justified by being paid for at
HM Revenue & Customs neither confirmed nor denied that it was increasing
its scrutiny of hedge funds, according to the report.