Starting an investment fund in the UK

Hi,

I was just wondering if anyone here has any experience of starting an investment fund in the UK. I would like to know what are the costs and how much tax would i have to pay?

Ideally i would like to set up a fund or whatever structure is the kindest on tax and have around 20 investors to start with and from there on expand to many 100's. Does anyone have any advice on taxes as if it is above 40% i would prefer looking to other options outside of the UK.

Thanks for any input

Freddy