David H. Kirk, former tax attorney in the Office of Chief Counsel of the Internal Revenue Service (IRS), joined Ernst & Young LLP’s Washington, DC office as an Executive Director in the Personal Financial Services practice. While at the IRS, Kirk was one of the principal authors of the net investment income tax (NIIT) regulations under Section 1411 of the Internal Revenue Code and also with respect to guidance addressing S corporation issues.
As part of the firm’s National Tax Department, Kirk will lead efforts to assist clients in addressing the new net investment income tax from both a planning and compliance perspective. In addition to his role relative to Section 1411, Kirk will serve as a key subject matter professional in the EY Global Personal Tax Planning network and work more broadly on matters related to S corporation, trust and personal taxation.
“David’s 15 years of experience and his role at the IRS on key new tax regulations will help our clients gain valuable insights into planning and reporting considerations,” said Michael Mundaca, Co-Director of National Tax for Ernst & Young LLP and Co-Director of the EY Americas Tax Center. “His knowledge and experience will be especially valuable to clients and colleagues as they understand and address the new NIIT in particular.”
In the Passthroughs and Special Industries division since 2008, Kirk served as a technical resource to regional IRS attorneys and examiners and the US Department of Justice (Tax Division) in civil and criminal tax matters.
Throughout his career, Kirk has focused on the taxation of individuals, trusts, S corporations, partnerships and financial planning for high-net-worth family groups. Prior to joining the IRS, he was a tax attorney at Arnold & Porter LLP, where he provided tax and legal structuring advice to individuals, businesses and investors.
From 1998 to 2007, he worked at Deloitte Tax LLP and assisted private clients on domestic and international income and pass-through taxation issues. In 2005, he joined Deloitte’s National Tax Private Client Advisors practice in Washington, DC.
Kirk has spoken at industry conferences and participated on panels for universities, personal finance institutes and bar associations.
Kirk earned a Bachelor of Science in Accounting from Syracuse University. He received a J.D. from University of Pittsburgh, where he was the co-founder of The Pittsburgh Tax Review. He also earned a LL.M. in Taxation from Georgetown University Law Center, and has served as an adjunct professor in the same program since 2009. Kirk is the author of forthcoming tax treatise on the Section 1411 tax expected to be published later this year.
Kirk is licensed as a Certified Financial Planner and Certified Public Accountant in the District of Columbia and New York. He is a Bar Member for District of Columbia and Pennsylvania
Shorts Chartered Accountants has announced the appointment of Rachael Dronfield as Private Client Director.
A Chartered Tax Adviser and member of STEP, Rachael has over 13 years’ experience working for a top international firm of accountants, specialising in inheritance tax and trust matters. She joins from Grant Thornton where she was a Senior Private Client Manager in their Leicester office.
“We have been privileged to attract a number of extremely high calibre recruits to the firm over the past 12 months. The momentum generated following the opening of prestigious new offices in 2012, resulted in a continued programme of recruitment throughout 2013.
“Looking ahead to the future, Rachael’s appointmentwill add further strength, as we strive to position our private client offering as the ‘quality provider of choice’ within the South Yorkshire and North Derbyshire regions.”
As the largest independent Chartered Accountancy firm in the Chesterfield area, Shorts has an established reputation as reliable and forward thinking accountants, taxation and business advisers. Our heritage and connection to the Chesterfield area is extremely important to us, having traded in Chesterfield since Samuel Edward Short founded the practice in 1890.
Over the years, the firm has expanded, opened offices on Ecclesall Road in Sheffield, and developed the Chartered Financial Planners aspect of the business. Our staff are made up of Chartered and Certified Accountants, Chartered Tax Advisers and members of the Society of Trust and Estate Practitioners.
McClure Naismith has announced the appointment of Julie Terrey as Director of Private Client Services, an expanding part of the practice that focuses on providing solutions on all the many issues relating to wealth and the law that face families and individuals.
Previously a Director with MacTaggart & Co and Kingsley Wood & Co, Julie is well known for her expert knowledge and extensive experience of common and often complex legal matters that routinely affect families and individuals. These range from wills, power of attorney and executries to trusts, inheritance tax planning, wealth management, dispute resolution and residential conveyancing.
She will be responsible for managing and promoting more widely McClure Naismith’s portfolio of specialist Private Client services and expertise.
Commenting on her appointment Julie said: “Wealth management can be a pressing problem for many families and individuals but with careful planning and management we can help protect assets and make life easier for anyone facing challenging times in their lives. We can also help families and individuals make the best of their family and business assets. I am delighted to be joining McClure Naismith, which has a very good Private Client base and a great platform from which I can expand our Private Client practice.”
John Blackwood, Partner in charge of Private Client added: “We are very pleased to have attracted Julie, who is so highly regarded in her field. I am confident Julie will be well received by our clients and enhance our Private Client offering.”
Karen Barretto joins IOMA as its new Head of Product Development with responsibility for enhancing and adding value to the firm’s existing suite of structures. Debbie Mahanta, who was voted in Private Client Practitioner’s ‘Top 35 under 35’ in 2010, joins the Group’s Business Development team with responsibilities for developing its private client network and portfolio of corporate partnerships. Both team members will be based in IOMA’s London office in Cavendish Square.
The two senior appointments come during a period of expansion for IOMA as it enters into a renewed five-year marketing and business development strategy. Already one of the Isle of Man’s most established wealth management firms, IOMA was the first composite insurance company on the Island and has grown to become one of its largest independent financial services groups.
A graduate of Law from London Guildhall University and a registered Trust & Estate Practitioner since 2004, Ms Barretto has extensive experience in the wealth management sector having spent five years with Canada Life as Head of the Trust and Estate Planning team and two years as a Trust and Tax Manager with MetLife, joining IOMA from Barclays Private Wealth where she was Head of UK Trust Sales. Ms Barretto will draw upon this experience, as well as a raft of industry qualifications, to develop new products in line with the ethos of the Group and which are relevant to, and technically and legally compliant within, the private client world.
Commenting on her appointment, Ms Barretto stated: “It is important to be aware that we operate within an environment that is subject to ever changing law and regulation. Products must remain compliant with these changes and continue to be fit for purpose. However, with change comes opportunity. I have been in the industry long enough to witness changes in legislation that have impacted the financial services industry enormously. Yet some of the most innovative and exciting new products have come about as a result, and I hope to continue in that vein. I look forward to working alongside a Group of highly talented and motivated individuals who all share this common vision and provide high quality wealth management services to the private client world.”
Mike Batey, Director of Life and Pensions at IOMA, added: “The appointments of Karen and Debbie punctuate what has been a continual growth curve for the Group. As a niche wealth management organisation, we have a proven track record of delivering innovative solutions that has resulted in our growing to become one of the largest independent financial services Groups in the industry. Key to this success is the trust and peace of mind of our clients and this can only be achieved by appointment of the brightest and most committed talents available. I would like to welcome Debbie and Karen to the IOMA team and wish them the best of luck in what is sure to be a bright future.”
Andrew Penman joined Mercer & Hole’s London office this month. His role will involve providing UK domestic and international private client tax advice to high / ultra high net worth and internationally mobile individuals and families.
Andrew was formerly Head of Private Client Tax Services at PKF but his employment switched to BDO LLP after the merger of the firms in the UK in April this year.
EY has announced that David White has moved internally within the Firm to join the Channel Islands Tax Practice as a tax director.
He originally joined the Firm in 1997 and has worked in Leeds, Auckland and Christchurch offices. David is a dual qualified chartered accountant in New Zealand and the UK and has a Masters degree from Cambridge University. He relocates from Leeds where he advised FS clients on improving their tax reporting to private clients.
David and his family will reside in Guernsey.
To find out more about opportunities to work at EY in the UK please click here.
Smith & Williamson has announced the appointment of Lee Blackshaw as head of its Manchester private client tax services team. This appointment follows Andrew McKenna’s promotion to head of Smith & Williamson’s Manchester office.
Lee previously spent over six years with PwC in Manchester, where he assisted entrepreneurs and owner-managed businesses with their tax planning. and he will be advising a variety of high net worth individuals, business owners and trusts on a range of tax issues.
Lee said: “I’m very pleased to be joining Smith & Williamson; it’s a firm that matches the big 4 in its quality of advice, and I like that its focus on the owner underpins the whole brand.”
Andrew McKenna, head of Smith & Williamson’s Manchester office, commented: “Lee is a valuable new appointment who really strengthens our Northern offering. He brings significant experience and a wealth of knowledge and we are delighted to welcome him on board.”
Ernst & Young Channel Islands has strengthened its tax department with the appointment of Mark Lee as Trust and Private Client Leader.
Mr Lee, who has a BAcc (Hons) in Accountancy with Finance, joined Ernst & Young Glasgow in 2006 and spent three years in Manchester before relocating to Jersey earlier this year. He has significant experience of dealing with HMRC on enquires and tax disputes and specialises in providing tax planning and structuring advice to trustees and private clients, many of whom are active entrepreneurs and non-UK domiciled.
Mr Lee’s role at Ernst & Young also involves him working with local businesses to assist with tax compliance, mitigating risk and providing stakeholders with confidence in their corporate governance. Mr Lee is working closely with Ernst & Young’s extensive network of tax compliance experts in the UK to provide this commercially minded client solution.
Since Mr Lee’s arrival in the Channel Islands he has been assisting trust companies in preparing for the implementation of the FATCA regulations by providing training to support them in managing the changes required internally.
Mr Lee said:”I’m thoroughly enjoying getting to know the Channel Islands and have been exploring the Islands’ coastal walks with my wife in my free time. I also have a great passion for golf and have so far managed to play a few rounds; I look forward to playing some more on the courses the islands have to offer.”
Andrew Dann, Ernst & Young’s Channel Islands Managing Partner welcomes Mark to the Channel Islands team. He said: “Mark’s move to the Channel Islands is a demonstration of Ernst & Young’s passion for ensuring our people have diverse and rewarding career paths. The wealth of experience Mark brings from working in the UK, specifically with HMRC, has already proved to be invaluable to our clients in guiding them through complex UK legislation and reporting requirements. His move to the Channel Islands office further strengthens our tax team, bringing commercially focused services specifically tailored to the needs of the Channel Islands marketplace.“
NOTE: Just to clarify, the Mark Lee mentioned above is not the same as the well known professional speaker and tax writer who is found at http://www.bookmarklee.co.uk/