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Hedge Fund Manager May Save $835,900 Due to a Typo | Tony Seruga
May
11

Hedge Fund Manager May Save $835,900 Due to a Typo

By
  • British tax agency wrongly identified year-end as April 6
  • Legal dispute over whether the mistake invalidates inquiry

A hedge fund manager says the British tax collection agency can’t investigate his 2009 finances because of a mistake in the letter warning him about the probe.

Her Majesty’s Revenue & Customs wrote to Michael Mabbutt, then at Thames River Capital, saying it wanted to open an inquiry into the tax year ending April 6, 2009, according to evidence from a London court hearing. The U.K. tax year ends on April 5.

Mabbutt’s lawyers say the error invalidates the notice.

“HMRC have only themselves to blame for what happened in this case,” they said in documents from the hearing…

Hedge Fund Manager May Save $835,900 Due to a Typo

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