Hedge funds are worried that London may lose its position as the centre for
global emissions trading if HM
Revenue & Customs does not allow existing hedge fund tax breaks
to be extended to ‘green’ trading instruments.
According to the Daily
Telegraph there is concern among hedge funds that the UK investment
manager exemption (IME) will not be extended to emissions trading.
The IME allows managers to control funds from the UK without paying UK tax,
as long as certain investment criteria are met.
HMRC is reviewing the IME criteria, and concern is increasing that emissions
investments may be excluded.
The Alternative Investment
Management Association , the hedge fund professional body, has
strong views on the IME review and is preparing a hard-hitting response document
to the review.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
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