UK High Court Dismisses Hedge Fund’s Disguised-Employee Appeal

The UK high court dismissed appeals from both the tax office and BlueCrest Capital Management over issues with a lower court’s findings on disguised employment.

The Upper Tribunal judges upheld the First-tier Tribunal’s findings that BlueCrest’s members were “disguised employees.” Both courts found that they all met the condition that their pay wasn’t dependent on the profit or loss of the limited liability partnership and that some members met the condition of not having significant influence over the partnership’s affairs.

The case focused on ...