Budget places spotlight on fund managers

April's UK Budget allocation of an extra £66m over three years to tackle tax non- compliance could see an increasing number of hedge fund managers under investigation by the Inland Revenue.

Some of the Revenue's additional resources will be targeted at tackling fraud involving concealment of undeclared income or profits offshore, countering avoidance of corporation tax and of National Insurance Contributors and tax on employment income.

Last month, HFR reported the Revenue had begun targeting

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