Tax & VAT

An intimate knowledge of hedge funds, private equity funds and fund of funds structures means that our teams in Australia can effectively and efficiently work through a fund’s tax issues and deliver results. We work with all clients to tailor the tax services they require.

Services include

• Maintaining tax cost base for open security transactions
• Tracking and allocating income and expense by tax characteristic including source of income, capital gains tax method, foreign tax credits and dividend franking credits
• Calculation of Distributions consistent with fund mandates and Australian Tax requirements
• Calculation of Withholding tax on distribution for investors where required
• AIIR Returns
• Issuance of Tax distribution statements
• Calculation of RITC for Business Activity Statements
• Lodgement of quarterly TFN returns
• Note: All tax records, distribution calculations and tax reporting services are subject to review and/ or submission to ATO by an appointed Tax advisor

For more information, contact your local office: Locations

Due to increasing regulations and requirements, tax compliance continues to be a challenge for many corporates.  Our experienced professionals will provide a tailor-made service and can take care of your tax filings for you. 

Services include:

Corporate tax services:

• Tax calculations for audit purposes
• Preparation and submission of tax return for corporate entities (Form 500 and appendices) including:

                                - Corporate income tax

                                - Municipal business tax

                                - Net wealth tax

• Review of tax assessments and any other letters from the Luxembourg tax administration

Indirect and VAT services:

• VAT registration / deregistration
• Preparation of periodic (monthly or quarterly) and annual VAT returns
• Preparation and submission of EC Sales Lists
• Review of VAT letters

Other tax services– including:

• DAC6 assessment and reporting
• Country by country notification and reporting
• Preparation and filing of withholding tax return for Director’s fees and dividends payment
• Regular tax update communications

Our team in Japan has over 20 years’ experience in providing tax services to over 300 asset managers and corporates in Japan. We are members of Tokyo Certified Public Tax Accountants' Association and the SFAI (Santa Fe Associates International), a global network of independent accounting and consulting firms.

Services include:

• Bookkeeping and Financial Reporting
• Preparation of corporate income tax returns
• Preparation of consumption tax (VAT) return
• Preparation of depreciable tax return
• Preparation of the application forms for tax treaty
• Attendance to the tax investigation
• Advisory services for Japanese tax minimization (corporate tax, consumption tax (VAT), withholding income tax etc.)
  Cash management
• Tax representative services for tax payment
• Payroll and social insurance calculation
• Expatriate payroll and preparation of individual income tax return (including gross-up by tax reimbursement)
• Outsourced accounting and payroll services

For both domestic businesses and multi-national companies, compliance with an increasing number of tax rules and more demanding and coordinated enforcement by tax authorities continue to be a challenge. As businesses expand operations into new markets the complexity of managing tax risks and complying with reporting requirements multiplies. We partner with our clients to provide a tailor made service, delivered in a practical and cost-effective manner. Headed and staffed by experienced industry professionals, we have wide-ranging experience, covering the full requirements of all UK business tax matters.

UK Business Tax: Compliance and advisory

• Business tax compliance including registration and preparing business tax returns
• Capital allowances claims and elections
• Transfer pricing studies
• Country by country reporting
• iXBRL tagging
• Tax investigations and dispute resolution
• Tax risk review
• Senior accounting officer support
• Research and development tax relief
• DAC6 Reporting
• Mixed membership issues
• Salaried member analysis
• Tax investigations and dispute resolution
• Disguised investment management fees analysis and advice

UK Employment Tax

• Benefit in Kind tax reporting
• International mobility issues e.g. ensuring the Short Term Business Visitor requirements are complied with
• Share scheme reporting
• Remuneration - identification and implementation of the right share plans for your business needs

With tax regimes around the world increasingly complex, the need for local expertise is essential for personal wealth planning and managing risk exposure. Our team of specialists can provide tailored solutions to help you navigate those complexities and advise individuals moving between jurisdictions to take advantage of any new opportunities.

In the UK, we help both UK individuals and foreign nationals who have established residency and/or a tax reporting requirement in the UK, with a particular focus on the application of ‘Non-Dom’ regimes for UK resident Non-Domiciled individuals.

Services include

• Broad tax planning services including capital gains tax, inheritance tax, stamp duty, land tax and trust tax
• Assist with taxation of private equity carried interest, to make sure you get the most out of any tax reliefs
• Self-assessment personal tax returns
• Trust tax returns including IHT forms

As regulation across the funds industry increases in complexity and tax laws evolve, it is important to get your tax filings right. The IRS requires all LLCs and Partnerships filing a Partnership return in the US, including offshore partnership entities, to appoint a Partnership Representative. If you do not appoint your own representative the IRS will appoint one for you and it must be a person with a substantial presence in the US. The representative must have a US taxpayer ID number, a US telephone number, an address and be able to meet in person with the IRS at a reasonable time and place.

We can take this burden away from you. With presence in major financial centres and cities across the US, we can offer local expertise complemented by the pricing power and economies of scale of a global business.

Services include

• Preparation of year-end tax estimates and schedules
• Identification and recording of tax adjustments, including awash sales, straddles and constructive sales
• Preparation of partner tax allocations Federal Form 1065 filings and K-1S
• Partner Representative designee services to meet new tax return requirements

We offer full US tax preparation service and support, including the preparation and filing of IRS Form 1065 with related Schedule K-1s plus and issuance of PFIC statements for US investors in offshore funds.

We fully understand the importance of delivering K-1s. An intimate knowledge of hedge funds, private equity funds and fund of funds structures means that our team can effectively and efficiently work through the fund’s tax issues and deliver results. We work with all clients to personalise the tax services they require.

Services include

• US federal and state tax returns
• Maintenance of tax allocation schedules by investor
• Schedule K-1/K-3 preparation
• Passive Foreign Investment Company ("PFIC") Annual Information Statements
• Expertise relating to PFICs and Foreign Bank Account Reports ("FBAR") reporting and various U.S. international reporting requirements

VAT is a complicated and continually-evolving area. VAT and GST are deeply embedded into the day-to-day operations of many businesses, but with constant changes to government policies it comes with a set of complexities that not all businesses have the resources to manage.

Our integrated team of VAT specialists work closely with clients to manage and mitigate risks around any reporting and administrative requirements. We guide our clients through these complexities, ensuring compliance and efficiency through recovery schemes, as well as advise on business transactions, partial exemption methods, group structures, deal costs and place of supply issues.

Services include

• The submission of registration applications
• The preparation of, and on-line submission of, monthly/quarterly returns and EC Sales Lists
• Reviewing contractual VAT clauses
• Attending VAT inspections
• Carrying out VAT reviews
• Negotiating and agreeing partial exemption methods
• UK VAT reclaims for non-UK businesses
• Non-UK VAT reclaims for UK businesses