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Billionaire quant trader Alex Gerko, founder of XTX Markets, has lost a legal dispute with British authorities over the tax treatment of a deferred payment plan. Gerko, one of the UK's largest taxpayers, paid £664.5 million in UK taxes last year. The dispute centers around money he made in 2010, which HMRC is now seeking to reclaim. This legal battle highlights ongoing issues related to tax avoidance schemes and non-domicile statuses.
Billionaire trader Alex Gerko loses UK tax appeal https://t.co/P62q8DFIG1
Hedge fund billionaire Alex Gerko loses fight over tax on traders’ payouts https://t.co/B1wgSPO8Eb
Billionaire Alex Gerko, founder of XTX Markets, paid £664.5m in UK taxes last year. Now HMRC wants to claw back money he made in 2010. This is why people go for tax avoidance schemes and non-domicile statuses. You give the taxman an inch and they take a mile. https://t.co/lSjKmLGB2C