BlueCrest Goes to Supreme Court in Senior Trader Tax Dispute

Michael Platt’s BlueCrest Capital Management went to the UK Supreme Court over a £200 million ($275 million) tax bill in a case that’ll likely decide how senior traders are taxed across an array of hedge funds.

The billionaire’s long-running fight with the UK tax authority culminates in a two-day hearing starting on Wednesday, that’ll decide the fate of so-called salaried members rules — a practice that shielded top traders from paying additional taxes. At stake is the viability of corporate structures widely used across the City, with other hedge funds including CQS and Cheyne Capital Management also facing scrutiny.