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PRIVATE CLIENT UPDATES Back to Publications 24 March 2025 Tax Planning Bulletin 2025 Read More 1 February 2023 Register Of Overseas Entities - HMRC Reaction Read More 1 March 2022 Register Of Overseas Entities Owning UK Real Estate Read More 31 May 2021 Trust Registration Service - Which Trusts Need To Register? Read More 1 November 2020 Capital Gains Tax: How Will You Be Taxed In the Future? Read More 30 April 2020 Disclosing Tax Plans: New Rules For Advisers And Their Clients Read More 1 February 2020 Budget 2020 - Entrepreneur's Relief Reform Read More 31 July 2018 Buying And Selling Artwork In The US Read More 31 March 2018 Internationally Mobile Employees Read More 30 June 2017 Foreign Domicliaries - Current Developments Read More 1 November 2016 Entrepreneurs’ Relief Read More 19 February 2024 Tax Planning Bulletin 2024 Read More 24 November 2022 Public Registers Under The Spotlight Read More 1 November 2021 HMRC Focus On Crypto-Assets Read More 31 May 2021 CGT Under The Microscope Read More 1 November 2020 Sale Of UK Property - Times Are Changing Read More 1 March 2020 Counting The Days Read More 1 January 2020 Becoming Even More Cryptic Read More 31 July 2018 Requirement To Correct - Flash Update Read More 1 March 2018 MTD Quarterly Reporting Read More 30 April 2017 An Unwelcome Bolt From The Blue! Read More 1 January 2014 Statutory Definition Of Tax Residence Read More 8 December 2023 Transfer Of Assets Abroad And The Fisher Case Read More 2 March 2022 Register Of Overseas Entities Owning UK Real Estate - Update Read More 1 November 2021 Regaining Its Teeth Read More 1 February 2021 R&H Staff Added To Private Client Global Elite Directory Read More 31 August 2020 Don't Panic And Carry On Planning Read More 1 March 2020 IRS Pushes Back Tax Filing Day Read More 31 August 2019 Residential Property Changes From 6th April 2020 Read More 30 June 2018 Requirement To Correct Read More 1 November 2017 Foreign Domicliaries - Where Are We Now? Read More 1 January 2017 Reforms To The Taxation Of Foreign Domiciliaries Read More

BUSINESS UPDATES Back to Publications 18 March 2025 Payroll Changes - Current and Forthcoming Read More 30 September 2024 Salary Sacrifice and Workplace Nurseries Update Read More 23 February 2024 Holiday Entitlement and Pay 2024 Read More 23 October 2023 EU Import VAT Changes, Works of Art Read More 1 March 2023 New Tax Year, Upcoming Changes And Points To Consider Read More 8 December 2022 Reform of VAT Penalties Read More 31 May 2022 Right To Work Checks In The UK Read More 1 March 2022 Payrolling Of Benefits In Kind Read More 1 November 2021 Salary Sacrifice - Electric Cars Read More 30 September 2021 Salary Sacrifice And Pension Contributions Read More 30 June 2021 Home Sweet Home Read More 17 November 2020 Additional Details For The CJRS Extension Read More 30 September 2020 Furlough Claims - Don't Fall Foul! Read More 31 August 2020 The Chancellor’s Winter Economy Plan Read More 31 May 2020 Covid-19 Business Support Guide Read More 1 March 2020 IRS Pushes Back Tax Filing Day Read More 1 January 2020 IR35 - Are You Ready For The Changes? Read More 30 June 2019 Corporate Residence Implications Of The Development Securities Case Read More 1 January 2019 Tax Relief For Goodwill Read More 31 March 2018 Export Evidence Read More 30 September 2017 Research & Development Expenditure Credit Read More 1 November 2016 Incorporation - Tax, Accounting And Commercial Considerations Read More 31 August 2016 Corporate Newsletter Read More 17 February 2025 Employer National Insurance Contribution Changes Read More 26 July 2024 EU Import VAT Changes, Works of Art 2024 Read More 19 December 2023 Economic Crime And Corporate Transparency Act Read More 31 August 2023 Maternity Leave and Employment Considerations Read More 1 March 2023 Brexit - Northern Ireland Protocol - Windsor Framework Read More 6 December 2022 Changes to UK Customs Import/Export Procedures Read More 30 April 2022 A Move To Greater Corporate Transparency Read More 1 January 2022 Salary Sacrifice - Bicycles And Cycling Safety Equipment Read More 1 November 2021 Salary Sacrifice And Workplace Nurseries Read More 1 August 2021 Salary Sacrifice (Or Exchange) Continued Read More 1 March 2021 IR35: Are You Ready For The Changes In April 2021? Read More 6 November 2020 Second Lockdown - Furlough Extension Read More 30 September 2020 Job Support Scheme - Example Calculations Read More 3 August 2020 VAT - Brexit Updates Read More 30 April 2020 Employment Related Securities Reporting Read More 1 February 2020 Payroll Update Read More 1 November 2019 The Conservatives Proposal To Shelve The Reduced 17% Corporation Tax Rate Read More 30 April 2019 Brexit Implications For Privately Held Companies With US Subsidiaries Read More 30 September 2018 Making Tax Digital For VAT Read More 1 March 2018 New Customs Declaration Service From August 2018 Read More 1 February 2017 Museums And Galleries Exhibition Tax Relief Read More 1 November 2016 Profit Extraction - Dividends vs Salaries & Bonuses Read More 30 September 2015 Transfer Pricing Read More 28 October 2024 VAT on School Fees Read More 12 June 2024 Recent Payroll Related Changes Read More 19 December 2023 Family Related Leave And Other Leave Read More 23 June 2023 Tax Compass Read More 1 February 2023 Holiday Entitlement And Pay Read More 31 August 2022 Recent Payroll Related Changes Read More 1 March 2022 Payroll - New Tax Year Read More 1 January 2022 Reform Of VAT Penalties Read More 1 November 2021 Brexit 12 Months On - Where Are We Now? Read More 31 July 2021 Salary Sacrifice (Or Exchange) Read More 1 January 2021 Art Market: Brexit VAT Update Read More 1 November 2020 New Lockdown And The Extended Furlough Scheme Read More 30 September 2020 The Chancellor’s Winter Economy Plan Read More 25 June 2020 Accelerate Tax Relief For Covid-19 Corporation Tax Losses Read More 21 April 2020 Further Funding For Businesses Impacted By COVID-19 Read More 1 February 2020 Brexit Update: Overview Of The UK Position Post Brexit Read More 31 August 2019 VAT Recovery: Pre-Incorporation VAT Read More 1 February 2019 Brexit: VAT And Customs Duties Read More 31 July 2018 VAT For Businesses In The Event Of No Brexit Deal Read More 30 September 2017 Research & Development Tax Credits Read More 1 December 2016 Investors' Relief Read More 1 November 2016 The Business-Owner’s Essential Guide To Tax Planning Read More 30 September 2015 Enterprise Management Incentive Scheme Read More

VIEWS FROM THE SQUARE Back to Publications Views From The Square - Edition 1 Autumn Read More

BUDGET CIRCULARS Back to Publications 31 October 2024 Autumn Budget 2024 Read More 23 November 2023 The Last Roll Of The Dice? Read More 31 August 2022 Mini Budget Briefing Read More 31 August 2021 Business Tax Alert Bulletin Read More 1 March 2020 Massive Government Business Bail-Out Plan Read More 30 September 2018 A Spin Of The Wheel? Read More 1 November 2016 Autumn Statement Summary Read More 31 July 2024 Non-Dom Taxation – The Chancellor’s Statement - July 2024 Read More 1 March 2023 Paying For The Past Read More 1 March 2022 Dragged Down By Debt Read More 1 March 2021 Boom Now, Pay Later Read More 1 March 2020 Support For Business In Response To Covid-19 Read More 1 November 2017 A Bricks And Mortar Budget Read More 1 March 2016 March 2016 - Budget Summary Read More 6 March 2024 Spring Budget Briefing 2024 Read More 18 November 2022 Reversal Of Fortune Read More 30 September 2021 A Post-Pandemic Budget? Read More 30 June 2020 The Chancellor's 'Plan For Jobs Read More 1 March 2020 The Crisis Budget Read More 1 March 2017 Bracing Britain For Brexit Read More

Rawlinson & Hunter LLP is a firm of Chartered Accountants and Chartered Tax Advisers which was founded in 1933 and is based in central London, with a strong supporting office in Leatherhead, Surrey. CLEAR ADVICE IN A COMPLEX WORLD A leading firm of Chartered Accountants since 1933 Tell me more about your... Services Our Services Art World Audit & Assurance Charities Estates Family Office Non-Resident Trusts Corporate Outsourcing Private Client Property Tax Tax Advice Tax Compliance Tax Investigations Transaction Support Probate Employment Taxes Trusts US Taxes Valuations VAT Advice Wealth Reporting SDLT Advice I'm looking for... People Our People Alan Ive Alex Jones Catherine Thompson Chris Hawley Craig Davies James Randall Kristina Volodeva Kulwarn Nagra Mark Harris Michael Foster Paul Huggins Toby Crooks Trevor Warmington Gillian Lawrence Hiral Kanzaria Katharine Haggie Lee Moss Mark Shaw Sarah Fernando Sharon Gillies Steve Williams William Watson Yueling Wei Partners Directors & Consultants Chris Bliss Paul Baker Salma Khan Louise Catt Claire Osborne Lisa Festerling Mark Wong Jeremy Stein Emma Huo Dan Taylor

TAX PULSE Back to Publications 17 February 2025 Tax Pulse Issue 16 Read More 22 December 2023 Tax Pulse Issue 13 Read More 31 March 2023 Tax Pulse Issue 10 Read More 30 June 2022 Issue 7 - Summer Edition Read More 30 September 2024 Tax Pulse Issue 15 Read More 6 October 2023 Tax Pulse Issue 12 Read More 21 December 2022 Issue 9 - Winter Edition Read More 31 March 2022 Issue 6 - Spring Edition Read More 12 June 2024 Tax Pulse Issue 14 Read More 7 July 2023 Tax Pulse Issue 11 Read More 5 October 2022 Issue 8 - Autumn Edition Read More 31 August 2021 Issue 5 - Autumn Edition Read More

BROCHURES Back to Publications Trust & Wealth Services Read More Private Client Services Brochure Read More Family Office - Short Read More International Services Brochure Read More Corporate Services Brochure Read More Family Office - Full Read More Structuring A Family's Charitable Giving Read More Recent World Events & The Family Office Read More BTG Brochure Read More

Rawlinson & Hunter's latest publications including Tax Pulse, Budget Circulars, Private Client Updates, Business Updates and Brochures. PUBLICATIONS Tax Pulse Tax Pulse Issue 16 17 February 2025 Read More Read More Tax Pulse Issue 15 30 September 2024 Read More Read More See all Tax Pulses Budget Circulars Autumn Budget 2024 31 October 2024 Read More Read More Non-Dom Taxation – The Chancellor’s Statement - July 2024 31 July 2024 Read More Read More See all Budget Circulars Private Client Updates Tax Planning Bulletin 2025 24 March 2025 Read More Read More Tax Planning Bulletin 2024 19 February 2024 Read More Read More See all Private Client Updates Business Updates Payroll Changes - Current and Forthcoming 18 March 2025 Read More Read More Employer National Insurance Contribution Changes 17 February 2025 Read More Read More See all Business Updates Brochures International Services Brochure Read More Read More Private Client Services Brochure Read More Read More See all Brochures Views From The Square Views From The Square - Edition 1 Autumn Read More Read More See all Views From The Square

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OUR PEOPLE Search Our strength lies in our people whose expertise and commitment enable us to provide a top quality pro-active tailored service in every office. By forename... Select person... By surname... Select person... Reset Filters By expertise... Select expertise... Back Sharon Gillies Director +44 (0)20 7842 2161 sharon.gillies@rawlinson-hunter.com Sharon has a wealth of VAT experience spanning some 30 years both within HMRC and private practice. She commenced her VAT career in what was then HM Customs & Excise where she carried out various different VAT roles over a period of 12 years. This included time as a VAT inspector and as a technical enquiries officer, which gave Sharon a solid background in all areas of VAT as well as an understanding of the mind of a VAT officer which has been invaluable in assisting clients. She continued her career in a top 10 accountancy firm followed by a boutique firm prior to joining Rawlinson & Hunter. Sharon has an extensive knowledge of all areas of VAT with particular expertise in relation to Art Galleries & Artists, Financial Services, Land & Property and overseas businesses investing in the UK. Sharon enjoys assisting her clients in navigating complex VAT legislation in order to avoid costly errors and maximise opportunities. She excels in explaining VAT legislation tailored to the needs of her clients. Sharon is also an active member of The VAT Practitioners Group keeping abreast of latest developments in legislation. Expertise: VAT Advice Property Tax Art World

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Rawlinson & Hunter has been at the forefront of the provision of tax and accounting advice to the art world since our formation almost ninety years ago. We act for leading artists, galleries and dealers on their underlying businesses and specific transactions. ART WORLD Rawlinson & Hunter has been at the forefront of the provision of tax and accounting advice to the art world since our formation almost ninety years ago. We act for leading artists, galleries and dealers on their underlying businesses and specific transactions. Many of our private clients are also avid collectors and we advise them regularly on transactional practicalities. We provide intelligent, well thought out and practical advice on the financial aspects of art transactions. Our unrivalled experience in advising on complex issues, often involving a number of jurisdictions with their associated tax implications, has given us a unique understanding of the requirements of those at the business end of the art world, as well as collectors. Our services for clients typically cover the structuring of trusts and other holding vehicles for the acquisition and long term ownership of art, along with IT support for the creation and maintenance of complex art (and other asset) databases for businesses and also individual collectors. We provide tax advice on international cross-border aspects of art related transactions including, amongst other things, complex VAT analysis, personal tax considerations for non-domiciled individuals and transfer pricing issues for international gallery groups. We also provide VAT and ARR mitigation advice relating to the purchase/ sale of works of art both within the EU and outside the EU. This is all in addition to the important routine work such as accounting and tax compliance support for art-related businesses, ranging from full day-to-day involvement in management accounting, payroll and VAT services through to the annual audit and corporate tax process. Our experience has shown that having an in-depth knowledge of the UK and EU VAT rules relating to art, and an understanding of our clients’ affairs, assists in tailoring transactions to meet the needs of each client. Fundamentally however, whilst art is increasingly seen as an ‘asset class’, it is principally there to be enjoyed and we never lose sight of this in providing our pragmatic advice. We have more information on this service available through our dedicated micro-site here . Our Specialists

Trusts frequently feature as an important part of a family’s inter-generational wealth and succession planning, for many diverse reasons. Fundamentally, they can be used to preserve capital and provide an income stream for current and future generations of a family. TRUSTS Trusts frequently feature as an important part of a family’s inter-generational wealth and succession planning, for many diverse reasons. Fundamentally, they can be used to preserve capital and provide an income stream for current and future generations of a family. The tax treatment of trusts can be complex. UK resident trusts are subject to income tax and CGT in their own right and many are subject to Inheritance Tax every 10 years. Trustees are also required to enter information about the trust, its terms, its assets, its settlor and beneficiaries on a trust register. Administering a trust in the UK has considerable responsibilities associated with it. Some of these are compliance and reporting responsibilities such as the bookkeeping of transactions, the preparation of accounts for the trust, the preparation of trust tax returns, ensuring that entries on the trust register are properly updated and that any regulatory disclosures are made accurately and on a timely basis. Other requirements are less routine. Trustees need careful guidance in making decisions about trust assets and the trust fund itself, especially where they are required to exercise their discretion in making distributions of income and capital to beneficiaries, making loans etc. A professional understanding of trust law and trustee responsibilities is crucial. This is why we often act as trustee alongside our clients, where trusts form part of their family succession planning. We prefer to do this through our trust corporation, The R&H Trust Co (UK) Ltd, since this offers flexibility (most of our private client partners are also directors of the trust corporation) and continuity, since the problems and costs encountered when replacing or appointing a trustee on the retirement or death of an individual are avoided. Our partners are experienced in dealing sensitively with the demands of a trustee’s role. They are used to dealing with the demands of multiple jurisdictions and the complex regulatory, tax and reporting requirements involved. They actively seek solutions tailored to ensure that, while the trust assets are preserved and can grow, the beneficiaries’ interests are maintained. They understand that full accountability and efficient administration are essential, coupled with an ability to deal sensitively with beneficiaries at every stage in life. Our highly experienced trust team handles all aspects of trustee accounting and administration, as well as dealing with the accounting and administration of estates and charities. The team also offers a range of services to Family Offices, including the ground-breaking wealth reporting offering. Our Specialists

Property transactions are complicated and costly for clients. There are many different taxes and fees involved throughout all stages of a property’s life cycle. It is essential for clients to seek advice to limit their tax liability and ensure they pay no more than the correct amount. PROPERTY TAX Property transactions are complicated and costly for clients. There are many different taxes and fees involved throughout all stages of a property’s life cycle. From Stamp Duty Land Tax (“SDLT”) and VAT on purchase, to the Annual Tax on Enveloped Dwellings (“ATED”) during ownership, and Capital Gains Tax (“CGT”) or corporation tax (“CT”) on disposal, it is essential for clients to seek advice to limit their tax liability and ensure they pay no more than the correct amount. At Rawlinson & Hunter we use our experience and expertise to tailor our advice to our clients, whether individuals or companies. We are experts with extensive knowledge of property-related taxes, and the know-how to reduce the tax liabilities faced during a property’s life cycle. We deal with all of our clients’ tax filing and reporting requirements (including SDL:T and ATED) and guide them through the processes of paying and limiting their tax liabilities. We advise on all issues relating to property taxation, including advice on the best way to structure the acquisition of property, advice on the tax treatment of debt finance, advice on maximising tax deductions and reliefs available such as capital allowances, advice on the VAT implications of property transactions for businesses and advice on the sale of properties. We also have extensive experience in dealing with the compliance aspects of ATED for clients who hold property through companies, including preparation and submission of annual ATED returns, successfully dealing with enquiries from HMRC, and advising clients on bringing their ATED compliance up to date where there has been prior non-compliance, including successful negotiations with HMRC to mitigate the ATED charges where possible, and minimising the level of interest and penalties levied by HMRC. We also specialise in providing detailed SDLT advice and practical guidance to clients and their advisers on complex property transactions including multiple completions, multiple purchasers, mixed residential and non-residential purchases, and a variety of substantial residential and commercial lease transactions Our Specialists

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LEGAL Rawlinson & Hunter International is a grouping of independent firms with members throughout the world. It is not a legal entity in its own right and does not offer professional services in its own name. Each independent member of Rawlinson & Hunter International is a separate firm. These firms are not members of one international partnership or group, or otherwise necessarily legal partners or members with each other, nor is any one firm responsible for the services or activities of any other. Firms in certain jurisdictions offer services through a partnership structure or through the medium of limited liability vehicles, or both, depending on the nature of services offered. The partners and directors of each of the firms within the Rawlinson & Hunter grouping pride themselves on the shared ethos and quality of advice given across the Rawlinson & Hunter grouping. As a result, use is made throughout this website of the expressions “our” and “we” in reference to the service provided by each of the Rawlinson & Hunter firms. This should not be construed as Rawlinson & Hunter International existing as a single entity. Although the firms carry the same name, there is no common ownership among the firms of Rawlinson & Hunter International. The London office conducts its business in the UK through Rawlinson & Hunter LLP, a UK limited liability partnership. Rawlinson & Hunter, a UK general partnership with partners who are also the members of Rawlinson & Hunter LLP, holds a minority financial interest in each of the overseas Rawlinson & Hunter firms, except for the Australia and New Zealand firms. This website is designed for the information of readers. Whilst every effort has been made to ensure accuracy, information contained on the site may not be comprehensive and readers should not act upon it without seeking professional advice. The application and impact of the laws can vary widely from case to case, based upon the specific or unique facts involved. Accordingly, the information in this site is not intended to serve as legal, accounting, financial or tax advice. Users are encouraged to consult with professional advisers at their local Rawlinson & Hunter International office for advice concerning specific matters before making any decision. A list of legal partners and directors of that office can only be obtained from that office and nothing in this website shall imply that any other persons mentioned herein are partners or members of that office.

Many of our clients have complicated tax-reporting needs. Some of them have significant and diverse investment assets both in the UK and overseas, sometimes held through foreign investment structures which are not set up for UK tax reporting. TAX COMPLIANCE It is absolutely essential, now more so than ever, that individuals and companies with complex tax affairs file accurate annual tax returns with HMRC. The cost of getting it wrong has never been higher. Many of our clients have complicated tax-reporting needs. Some of them have significant and diverse investment assets both in the UK and overseas, sometimes held through foreign investment structures which are not set up for UK tax reporting. Other clients have complex remuneration reporting involving options, vesting share arrangements and restricted stock units where there might be international considerations. Many of our clients are entrepreneurs with businesses which also bring intricate tax filing challenges. Just as tax reporting has become more demanding, there has been a much closer concentration of effort by HMRC on the tax affairs of wealthy UK tax payers and their companies. HMRC’s investigative capabilities have been greatly enhanced by the volume of information provided to them by both institutions in the UK and by other countries under automatic exchange of information agreements. At the same time, the tax law has been changed to give HMRC a greater length of time to investigate foreign aspects of a taxpayer’s affairs and impose significantly greater penalties for reporting failures. Thoroughness and a rigorous approach are therefore paramount in the preparation of our clients’ tax returns. We generally operate a ‘triple-lock’ approach whereby the tax return is prepared by a professionally qualified junior, reviewed carefully by a manager and is then subjected to a final high level review by the partner. In that way, we seek to reduce the risk of inaccuracies and omissions. Our Specialists

At Rawlinson & Hunter LLP, we try to meet effectively the needs of our clients and the wider communities by rigorously following our core values. OUR CORE VALUES At Rawlinson & Hunter, we try to meet effectively the needs of our clients and the wider communities by rigorously following our core values, which are: A Commitment To Our Clients: ensuring we put exceptional hands-on client service at the heart of what we do and that we always go the extra mile for our clients. A Commitment To Technical Excellence: ensuring that we provide the highest quality technical advice in a conservative, sensible and ethical manner, and that we are recognised as leading experts in our field. A Commitment To Independence: ensuring that we maintain independence of mind by coming to our own views without fear or favour, and that we are unafraid to tell it how it is. A Commitment To Each Other: embracing and respecting our differences, whilst ensuring that we work together as a team to achieve goals and putting these goals before self-interest. A Commitment To Our People: ensuring that we create an environment where staff are fairly rewarded for their contribution, where open, honest feedback is given, and where everyone has the opportunity to achieve their potential. A Commitment To Our Communities: ensuring that we contribute positively to society by offering a necessary business service, by operating in sympathy with our environment, and through charitable giving and philanthropic policies. A Commitment To Change and Challenge : recognising that our ability to consult and advise one another is a vital advantage in the face of fast evolving and increasingly complex client needs. We attract a high calibre of people to work for us – self-starting, diverse individuals who can be trained to work on their own initiative, supporting the partners in developing client relationships built on trust. We provide full study support and a training programme to equip our people with the necessary technical, team and inter-personal skills. We provide excellent facilities as well as a range of social activities which encourage close working relationships across the London and Leatherhead offices. We encourage and support career advancement, with the international offices providing further scope for secondments and progression. Many of the Firm’s current partners joined the Firm in junior positions. For further information about a career with the Firm and current opportunities, visit the Career section of the website TAX

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Several years ago we created our own team of ‘dualhandlers’ with the necessary technical expertise to deal with both UK and US tax filings. Led by two partners, the team has flourished and has a strong presence in the Firm’s overall private client offering, representing our clients with both HMRC and the IRS . US TAXES Several years ago we created our own team of ‘dualhandlers’ with the necessary technical expertise to deal with both UK and US tax filings. Led by two partners, the team has flourished and has a strong presence in the Firm’s overall private client offering, representing our clients with both HMRC (as agents) and the IRS (as enrolled agents). We now deal with many clients with UK and US, or just US, tax exposure. While many of them are US citizens or Green Card holders living in the UK, we also deal with US individuals living in third countries, US based individuals with international assets and non-US individuals who have a US tax footprint because they have US situated property or receive US income. Getting the tax filing correct in both countries is the first step. If we are dealing with a US individual who is resident in the UK, the priority is to ensure that the tax payable across the two jurisdictions is not higher than it needs to be. This requires our team to have an enhanced understanding of the remittance basis of taxation where the client is not domiciled in the UK, and full familiarity with the operation of the UK/US Double Tax Treaty. Another crucial point is to ensure that available tax credits are created at the right time, utilised in the right direction and not wasted. We can also deal with other US tax reporting, including Foreign Bank Account Reporting and the reporting of trust interests. But the compliance work is really just the tip of the iceberg. Pre-planning is highly recommended since there are so many mismatches of tax treatment in areas such as investment products and vehicles, charitable donations and the timing of income and gain recognition (to name but a few) which can increase the global tax burden for such clients, unless care is taken. We can also advise on UK and US anti-avoidance provisions, the interaction between US Estate and Gift Tax and UK Inheritance Tax, the treatment of trust interests in both jurisdictions, the tax treatment of pensions and the classification of business entities to list just a few of the areas of expertise which we have. Our Specialists

We have a number of Partners and Directors who are experienced in valuation work. They are members of the Valuation Special Interests Group of the Institute of Chartered Accountants in England and Wales, and they draw upon many years of in-depth experience, including work as Independent Experts for court proceedings. VALUATIONS There are many reasons why it may be necessary to value a business, or shares in a company conducting a business. There may be commercial reasons for the valuation, or family reasons such as divorce, or tax reasons such as on the making of a gift. There may be Inheritance Tax reasons, including death (with the business interest falling into an estate) or a ten year anniversary charge within a trust. It may be necessary to agree a valuation of shares with HMRC for the purposes of issuing employee shares. All of these situations, and many more, may require a valuation to be performed. In most cases involving valuations relevant to a tax situation, it will then be necessary to negotiate and agree the valuation with HMRC. We have a number of Partners and Directors who are experienced in valuation work. They are members of the Valuation Special Interests Group of the Institute of Chartered Accountants in England and Wales, and they draw upon many years of in-depth experience, including work as Independent Experts for court proceedings. Whilst there are several recognised valuation methodologies for businesses in different sectors, the correct approach is likely also to be influenced by the size of the shareholding or business interest. Valuing a business is not a precise science and it is necessary to consider each situation with an open mind in order to identify the relevant factors. With a commercial valuation, our experts will work closely with management to fully understand how the business operates, identifying the issues which influence income streams and capital growth. With tax valuations, it is often necessary to consider generally available financial data and consider quoted company comparators operating in the same sectors. Whatever the reason for the valuation, we recognise that the process can be a sensitive issue. We bring a commercial and cost-effective approach to these assignments, quickly considering our clients’ key issues and the appropriate valuation methodologies to apply in order to arrive at an independent valuation. Where the valuation is driven by tax, we will stand behind our conclusions and negotiate hard with HMRC in our clients’ interests. Our Specialists

As a leader in the accountancy world, we are committed to ethical and sustainable business practices, and we recognise that we have a social responsibility to our employees, clients, communities and the environment. CORPORATE SOCIAL RESPONSIBILITY As a leader in the accountancy world, we are committed to ethical and sustainable business practices, and we recognise that we have a social responsibility to our employees, clients, communities and the environment. Some of our community support activities are detailed here. Pro-bono work We typically donate in excess of £200,000 of pro bono services per annum to good causes including charities, education providers and hospitals. And it is not just the giving of time and expertise. Through our Give as you earn scheme, staff can make regular donations to causes they care about, straight from their pay. Support in the community We help support up-and-coming artists by displaying their works at our London office, and by holding an annual reception for potential buyers, clients and the artists, who are on-hand to present their works. The works are curated by the Ingram Collection , which supports emerging artists through its Young Contemporary Talent Programme. Rawlinson & Hunter is delighted to sponsor one of the highlights of this programme – the annual Purchase Prize exhibition. One of our core values is a Commitment to Our Communities. As part of this, we have volunteering groups in our London and Leatherhead offices run at a local level by staff, supported by the Partners. Each year, staff can spend a day taking part in a team-based volunteering activity supporting a local charity Charitable fundraising Over the years, staff and Partners have raised tens of thousands of pounds for a variety of good causes and charities. Currently, the Firm is supporting two charities. The Royal Marsden is the staff nominated charity, and Artis is the charity that the Partners have chosen. Throughout the year, fundraising activities are held to support each of the charities from sponsored walks to bake sales. The Firm will often match donations raised by staff, ensuring each of the charities can do that little bit more. Sustainability We are committed to sustainability and have introduced a number of initiatives including: All waste separated and recycled where possible Electricity supplied from renewable sources Motion activated lighting in both offices VRF air conditioning incorporating a heat recovery system 100% fresh air system Paperless working Cycle-to-work scheme Car benefit scheme to lease a new electric car Gender Pay Gap report We are committed to equality of opportunity for all members of staff and are proud that this is reflected positively in our Gender Pay Gap report . Our mean gender pay gap figures are below the national averages reported by the ONS and this is partly due to more women than men working in senior roles within the Firm.

OUR PROBATE ACCREDITATION Time and fees The time taken to complete the work required to deal with an estate will vary significantly depending on a number of factors. On this basis it is not possible to provide a general price for the work. We charge on the basis of the complexity of the work and time taken to resolve issues. For an understanding of the scope of work that we undertake and the possible costs associated with this please see “Illustrations”. It is also difficult to provide a timetable for the provision of probate services and the ultimate completion of the associated work, as there are many factors that can affect the process. We strive to co-ordinate with executors and keep them informed of progress on a regular basis so that they are aware of the status of each case. Illustrations Illustration 1 Assisting executors with Inheritance Tax compliance and filing for probate. We have acted for estates where there is a liability to Inheritance Tax and the assets are both easy to identify and to value (for example, listed investments and bank accounts). The will is straightforward, with only a handful of beneficiaries. We notified the relevant parties of death and requested probate valuations of the assets. Preparation and filing of the IHT Account (Form IHT400 and supporting schedules). Preparing the probate application on behalf of the executors. The executors dealt with the administration but we assisted them by opening a client account to collect in the assets and make distributions. We also provided them with support to sell listed investments. Total fees between £2,500 and £7,500 (including VAT) Illustration 2 Acting on behalf of executors. We often get asked to provide a full service of all matters in connection with the estate. Identifying assets, notifying third parties and collating valuations on behalf of the executors (including liaison with other professional parties, for example surveyors, auctioneers, directors of private companies and solicitors). Inheritance Tax compliance and applying for Probate (either on behalf of the executors or under a power of attorney). Administering and collecting in the estate assets. Provision of full client account services for the executors. Selling assets, payment of professional fees and other estate expenses. Making distributions to beneficiaries. Registering the estate for income and capital gains tax and filing all necessary tax returns. Providing beneficiaries with R185 forms. Preparing interim and final estate accounts. Total fees between £10,000 and £25,000 (including VAT) Illustration 3 Acting on behalf of executors (complex estates). We have acted for complex estates with property in multiple jurisdictions. The valuation of estate assets is not straightforward and issues have arisen in respect of the probate application (non-contentious). Identifying the assets and obtaining valuations. Where required, we have prepared valuations of unquoted shareholdings and considered complex issues with regard to business / agricultural property reliefs. We have dealt with complex domicile issues and achieved favourable outcomes for our clients. Obtaining probate in overseas jurisdictions. This most often requires us to engage professionals in foreign jurisdictions and liaise with them to obtain probate locally. Where required, we have also engaged with other overseas professionals, for example estate agents, to market and sell property. We have good professional contacts in many overseas jurisdictions. Dealing with high value, and sometimes unusual assets (for example, arranging collection of personal possessions stored in safety deposit boxes). Applying for probate and dealing with other complex matters which have arisen (for example, obtaining additional affidavits where a will was not fully executed or where the probate registry raised doubt over the testators capacity to execute the will. We had to trace witnesses and obtain further affidavits from them to secure probate). Fully administering the estate assets, estate accounting and filing of estate tax returns. Total fees between £25,000 and £50,000 (including VAT) Regulatory Licensed by the Institute of Chartered Accountants in England and Wales to carry out the reserved legal activity of non-contentious probate in England and Wales. Details of our probate accreditation can be viewed at icaew.com/probate under reference number OC403503. Rawlinson & Hunter LLP recognises the benefits of, and is committed to, equality in the workplace. We monitor diversity within our workforce and take action where possible to ensure that we can attract, retain and develop the best people, regardless of their background. Our most recent survey is available from Emma Knight, HR Director (emma.knight@rawlinson–hunter.com ) Compensation Scheme In the unlikely event that we cannot meet our liabilities to you, you may be able to seek a grant from ICAEW’s Compensation Scheme. Generally, applications for a grant must be made to ICAEW within 12 months of the time you become aware, or reasonably ought to have been aware of the loss. Further information about the scheme, and the circumstances in which grants may be made, is available on ICAEW’s website: www.icaew.com/probate . Complaints We always seek to provide clients with the highest levels of service. If you would like to talk to us about how we could improve our probate service to you, or if you are unhappy with the service you are receiving, please let us know by contacting the Head of Legal Practice /probate contact partner, Toby Crooks. We will consider carefully any complaint that you may make about our probate services as soon as we receive it and do all we can to explain the position to you. If we do not answer your complaint to your satisfaction or you are unhappy with our response, you may of course take up the matter up with our Senior Partner, our professional body (ICAEW), and the Legal Ombudsman. Complaints to the Legal Ombudsman should be made within six years of the act or omission or within three years of you becoming aware of the issue, and in either case within six months of our written response to your complaint to us. The contact details for the Legal Ombudsman are: Letter: Legal Ombudsman, PO Box 6806, Wolverhampton, WV1 9WJ, Email: enquiries@legalombudsman.org.uk Telephone: 0300 555 0333.

To understand the Firm’s core values today and how they became inculcated into its DNA, one has to look back to its origins in 1933 and all that has happened since. OUR HISTORY To understand the Firm’s core values today and how they became inculcated into its DNA, one has to look back to its origins in 1933 and all that has happened since. The Firm has been shaped not just by events themselves but by the choices made in response to those events by the rich tapestry of individuals who have served the Firm as partners over the years. Rawlinson & Hunter is rather unusual as an accountancy Firm dedicated largely to services to private clients, many of whom have been as unusual, eccentric and exceptional as the partners of the Firm. The Firm’s rather individual history, from the early careers of its two founding partners up to the start of the first Coronavirus lockdown, has been recorded in detail in a private publication authored by partner Andrew Shilling, ‘Rawlinson & Hunter 1919-2019 – Taking the Road Less Travelled’. If you would like a copy, let us know. In the meantime, we hope that you find this interesting as historical background to the Firm. The Firm was established in London in 1933 by Alfred Rawlinson and Robert Hunter. They were chalk and cheese. Hunter, who was a forceful and assertive character and a first class tennis player, dealt with the administration of the Firm and took most of the decisions, while Rawlinson was a quiet, gentle and unassuming personality who took no exercise as a result of injuries sustained in the 1914-18 war. Yet they found that they could work together very well and the practice flourished. In the early days of the practice, the Firm dealt with a combination of international corporate work for cases such as Nestlé together with a smattering of personal tax cases. In 1934, Felix Chivers, who had won the tax prize in the Institute’s exams, was recruited to the Firm. He became a partner in 1941 and served as partner for 30 years. It was Chivers, rather than Rawlinson or Hunter, who was responsible for the Firm’s orientation towards private client work for wealthy individuals. He began to advise in depth on Estate Duty and attracted many influential new clients to the Firm. This type of work led him to become involved in family trusts and trust work, which became an important part of the Firm’s service offering, as it remains today. He was by all accounts a real character who was very closely and intimately concerned with the affairs of his clients. On one occasion he was left babysitting a client’s young child and on another, he was responsible for arranging the repatriation from abroad of the body of a deceased client. The Firm offers a ‘partner-led’ service, and Chivers was perhaps the first proponent for this style of client relationship. During the Second World War, working conditions in London became difficult. Hunter recounts; ‘We had hardly any staff left, and those we had were all arriving late or leaving early because of the threat of bombing. So I set out to find a refuge outside of London, and found an old house, Masons Farm, with 13 rooms in a small beautiful village in Oxfordshire. My family were installed there and the rest of the house was used as our offices.’ We consider this to be an early example of working from home, 80 years ahead of its time. A few members of staff continued to work in the Firm’s office in Aldwych, which survived intact in spite of damage caused by a V-1 flying bomb attack on 30 June 1944. As the Firm emerged from WWII, it began to look beyond Britain’s shores for business opportunities. A client asked the Firm to deal with the accounting affairs for his hotel in Bermuda. Work permits were obtained to enable staff to spend all year there, which led to the establishment of the Bermuda office in 1963. The partners continued to look for expansion opportunities and future senior partner, Peter Hetherington, spearheaded the establishment of the Jersey office in 1972 after his biggest client moved there to escape Chancellor Roy Jenkins’ imposition of a 136% tax rate on investment income exceeding £15,000 (the highest tax rate in British history!). The Firm’s entrepreneurial spirit was demonstrated with the opening of offices in Cayman, BVI, Guernsey, Switzerland, New Zealand, Australia and, in 2013, in Singapore. This brought a significant number of international clients to the Firm and many of the London Firm’s clients to this day are individuals with overseas aspects to their tax affairs. Partners are encouraged to develop clients in sectors where they have a personal specialism or interest, and the Firm currently has a number of clients in the art world, motor sport and private equity, to name but a few. Rawlinson & Hunter is a Firm which is rich in history, a history which has shaped not just what we do but the core values which we apply in doing it. We are all, partners and staff, proud of the Firm, its independence, our clients and the quality of the service which we offer.