Securities Tax Advisory
Securities Taxation Advisory is a specialism of Hansuke. We have practical expertise supported by tax authority experience. Our Managing Director is a leading authority in the field of securities taxation, having worked with leading sovereign institutions, broker-dealers, securities lending agents, asset managers and custodians.
Some notable conferences where we have spoken have included the following:
2015: Discussant on the “Navigating the Current Regulatory Environment for Synthetic Instruments” panel at the Equilend client event, London
2013: Presented the session entitled “Taxes and Securities Lending” at Goldman Sachs Agency Lending Annual Securities Lending Conference, Boston
2013: Lead discussant on the OECD/G20 Base Erosion and Profit Shifting (BEPS) project at International Tax and Investment Centre’s 4th MENA meeting in Tunis
2011: Conference speech “From Physical to Swap: The implications of transforming a portfolio’ at The Synthetic Finance Summit II, London
2011: Conference speech “Taxation developments impacting International Securities Lending” at The 8th Annual PASLA/RMA Conference on Asian Securities Lending, Singapore
2007: Led the taxation panel at 9th Conference of Central Securities Depositories (CSD 9) held in Seoul
Through our expertise, we assist our clients in the following ways:
Designing and implementing best in class withholding tax management systems,
Supporting (and outsourcing of) reclamation of withholding taxes,
Assistance with the negotiating of taxation terms within market agreements and SLAs,
Multi-jurisdictional reviews for new markets and new investments/instruments,
Securing robust FIN48 opinions covering treatment of market transactions and capital gains,
Analysis of securities financing transactions including rehypothecation,
Analysis of give-up trades via FIX and other DMA technology,
Negotiating with taxation authorities where inadvertently non-compliance has occurred.
Tax Reporting and Compliance
Given the increasing complexity of business and tax, with greater demands for robust documentation and transparency, tax departments are under unprecedented pressure to be more effective with fewer FS specialist professionals.
We support our clients in following ways:
Supporting quarterly and annual tax provision calculations, validating tax balance sheet accounts, assisting with drafting of tax disclosure notes and implementation of new accounting standards under IFRS and/or local GAAP.
Provision of efficient, cost-effective tax compliance services, including co-sourcing and outsourcing options. Our enhanced compliance service has built-in helpline support and regular on-the-ground delivery support.
Tax function improvement & SAO advisory
Calibrating tax with the overall organisational strategy, improving tax processes and controls, and data and systems effectiveness. Our health checks and risk reviews are designed to identify gaps, evaluating key risks, and seek to improve controls monitoring and development of remediation road-maps.
The scope of our services is not constrained by ‘conflicts of interest’ that arise from audit and other similar assurance assignments. Our firm’s independence enables us to deliver unfettered high-quality service to address our clients’ specific needs, throughout the entire tax life cycle of planning, provision, compliance and working with the tax authorities.
Tax Function Improvement & SAO Advisory
Given the regulatory complexity and reputational issues, tax departments face unprecedented strategic and operational challenges. Our advisors, possessing in-house and tax authority experience, are ideally placed to assist tax departments to meet the complex regulatory, technology and globalisation challenges by enhancing the effectiveness of the tax function by designing and implementing efficient tax systems and processes.
We deploy proven methodologies and apply in-depth knowledge of tax technologies to help build robust compliance and reporting foundations, effective risk management protocols and a high performing, efficient, effective and sustainable tax function.
We can help you improve the end-to-end business processes that drive tax performance. We possess extensive experience of assisting UK based organisations meet their Senior Accounting Officer (SAO) obligations. Under the SAO regime, the responsible officer is required to personally certify that their organisational systems are fit for the purpose of reporting taxes.
VAT, GST and other sales taxes
Indirect taxes have an impact on all businesses of all sizes across all the sectors. For the Financial Services industry, VAT is increasingly recognised as a specialist and complex matter.
The nature or place of a supply can have huge financial consequences especially in property and other transnational matters.
We help our clients efficiently manage their VAT by negotiating with the authorities and advising on complex transactions. We can support full or partial VAT compliance outsourcing, identify the right partial exemption method and review accounting systems.
We provide a full range of VAT services, covering:
Assistance with VAT registration
Preparation and filing of VAT returns
Advice on VAT planning and administration
Staff training and development
Use of the most appropriate scheme
VAT health check reviews
Planning to minimise future problems with Revenue and Customs
Negotiating with Revenue and Customs in disputes and representing you at VAT tribunals if necessary