Top Ten Tax & Trust Lawyers
Known for his representation of Arab royalty, British landed families and American UHNWs, Robert Brodrick is a trusted adviser on the ‘full spectrum’ of tax.
For Brodrick and the rest of the tax team at Payne Hicks Beach, 2018 has been a year of consolidation after ‘a series of momentous changes’ to the non-dom laws in 2017. ‘The main challenges are the ever-increasing burden of regulation [he mentions trust registration, the CRS and exchange of information] and the change in attitude towards tax planning.’ As a result, the firm is moving away from tax planning to focus more on family governance and succession planning.
Since the mid-1700s, Payne Hicks Beach has been advising private clients from the same premises in Lincoln’s Inn. ‘Our focus is acting for private clients, so we are used to dealing with individuals,’ says Broderick. ‘HNWs are still ordinary people who have emotions and difficult relationships. They can be very unpredictable. It’s completely different from acting for companies, where there are boards of directors and good corporate governance.’
Brodrick would like to see more focus from the government on preventing HNWs’ money leaving the UK. ‘I find it immensely frustrating that the government legislates to encourage non-doms to keep their wealth offshore and penalises them for bringing it
into the UK. We should be doing the reverse,’ he says.