Tax changes needed in UK

(Times Online): The European Commission’s alternative investment fund management directive, which aims to locate hedge funds in Europe, has unsettled hedge fund managers. If the UK does not develop a competitive onshore regime, it will miss out on money, taxes and jobs. The prospect of tax rises and the spectre of the directive are placing opposing pressures on the European Union’s hedge fund managers. The impulse may be to move out of the EU to a jurisdiction with lower taxes, but regulatory change may mean that managers will be at a competitive disadvantage unless they stay put or bring their products onshore.

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