WSJ – Senior figures within the hedge fund industry have poured cold water on the idea that as many as a quarter of employees have left the U.K. for Switzerland, but they warn that the number of departures is on a rising trend that could reduce U.K. tax revenue significantly.
A news report last Saturday said one in four hedge fund employees had left the U.K. for Switzerland, costing the U.K. about £500 million in lost tax revenue.