Hedge fund managers in taxman’s sights

Other stories: Exit tax may prompt exodus

Some of Britains highest earners operate in the hedge fund industry, which has grown to a $500bn (£315bn) business with over 6,000 funds.

Crispin Odey, of Odey Asset Management, believes it is a case of the Revenue desperate to claw some cash back. He is reported as saying that the government is keen to maximise tax income and that hedge fund tax is one target.

Stephen Camm, director of tax investigation at PricewaterhouseCoopers, said he would be surprised if there was not at least a dozen managers under investigation.

The Revenue is reported to have confirmed the investigation.

Related reading