Hedge funds have urged the government to overturn its proposed changes to
The Alternative Investment Management Association
has written a letter to HM Treasury claiming the new non-dom arrangements will
lead to an overall reduction in UK tax revenues as hedge fund managers relocate
to other countries.
According to tax-news.com 77% of hedge find managers who took part in an AIMI
survey confirmed that more than ha
lf their employees were non-doms. Around 60% of those who participated in the
research said they would be affected.
‘Unfortunately, we believe that the proposed measures will cause these key
people to re-assess their positions and potentially migrate to more favourable
jurisdictions over the next 18 months or so. We urge HM Treasury to reconsider
the measures and potential impact carefully and comprehensively,’ AIMI deputy
chief executive Andrew Baker is reported saying.
Tax experts await Alistair Darling’s first full Budget next week to see if
any change will be made to non-dom policy.
Report argues that the government must change the way it makes tax and budget decisions
Committee expresses concern about costs to businesses and April 2018 implementation date
Andrew Tyrie airs views on the Finance Bill, 'Making Tax Policy Better' report, and Brexit
Top 25 firm HW Fisher & Co has acquired London firm Rhodes & Rhodes