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Hipgnosis set to quit tax exile in Guernsey after snapping up music rights from a host of top artists
02.04.2021 - 05:07 / msn.com
Hipgnosis Songs Fund has moved onshore from Guernsey to the UK. It means Hipgnosis will cease to be a Guernsey tax exempt vehicle and instead be 'treated as being resident in the UK for tax purposes'.
Guernsey is a hotspot for music rights firms – with Round Hill and Tailwind also based on the island – as it allows them to organize their assets and operations into separate companies. Earlier this month Hipgnosis snapped up song rights from Carole Bayer Sager, the songwriter behind the James
.
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Hipgnosis set to quit tax exile in Guernsey
Hipgnosis Songs Fund has moved onshore from Guernsey to the UK. It means Hipgnosis will cease to be a Guernsey tax exempt vehicle and instead be 'treated as being resident in the UK for tax purposes'.