On Wednesday, the firm lost a roughly four-year legal battle about how payouts for hedge fund traders should be taxed.

Hedge funder BlueCrest Capital Management, founded by the UK’s wealthiest financier, Michael Platt, has lost an appeal at the highest court over a £200m tax feud with HMRC.

BlueCrest Capital lost a £200M tax case at the UK Supreme Court over LLP salaried member rules, calling the UK no longer a serious contender for business.