British Financier Faces Increased Scrutiny From His Tax Haven in Guernsey

August 6th, 2009

New York Times

ST. PETER PORT, GUERNSEY — The panoramic view of the English Channel and Guernsey’s craggy western shore from Guy Hands’s new £6 million home is splendid. No less so is the vista from his soon-to-be-completed rooftop office here on the eastern side of this small English-speaking island just off the French coast of Normandy.

But the most renowned British private equity financier has not abandoned the land of his birth just for the seaside splendor. What has mainly drawn him to Guernsey are its welcoming tax rates — 20 percent on income and, crucially for those in the business of buying and selling assets, zero tax on capital gains.

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