IA Tax Conference 2024

Group discount: use the promotional code GROUP for 20% discount on bookings of five or more!

Navigate fiscal horizons at the IA Tax Conference 2024 on Wednesday 08 May, kindly hosted by Simmons & Simmons and in collaboration with our Headline Principal Partner Global Tax Recovery. 

Embark on a journey of knowledge and strategic insight at the IA Tax Conference 2024, the definitive annual gathering for Heads of Taxes, CFOs, and Tax and VAT professionals in investment management firms, intermediaries and advisors. Join us on 08 May as we delve into critical discussions led by influential speakers and explore the evolving landscape of tax in the context of public policy.

Prepare to be enlightened by a distinguished line up of influential and knowledgeable speakers, providing invaluable perspectives on the intersection of tax, public policy, and the global market. Gain insights that will empower you to navigate the ever-changing fiscal horizons.

Attending this event will provide you with insight into:

• UK Tax Evolution: Understand how UK tax policy is adapting to political and economic shifts, and decipher its implications for your business and clients.
• Global Competitiveness in Uncertain Times: Navigate the relentless landscape of global competitiveness amidst fiscal changes and uncertainties, understanding the impact on fund managers and funds both in the UK and on a global scale.
• VAT Divergence: Stay ahead of the curve as the UK and Europe are set to diverge for the first time in half a century, addressing the latest VAT trends and issues impacting the industry.
• Pillar Two and Beyond: Grasp the implications of Pillar Two on tax compliance, and gain foresight into the global political focus post-BEPS 2.0.
• EU Updates: Explore the latest developments from the EU Commission, including insights into the FASTER Directive and its impact on funds' investment into the bloc.
• Adaptive Governance Models: Discover how firms' governance models are evolving to cope with unprecedented change, offering reassurance in times of uncertainty.

This conference is your exclusive opportunity to deepen your understanding of tax intricacies and equip yourself with the knowledge needed to navigate the turbulent market conditions, especially with elections looming large. Secure your place now to connect with industry leaders, engage in thought-provoking discussions, and elevate your understanding of the dynamic tax landscape.

Please contact events@theia.org for event sponsorship opportunity enquiries.

If you are experiencing any problems with registering to our events, please message: events@theia.org

09:00 Registration & Networking

09:35 Opening address from the IA

Anshita Joshi, Head of Risk and Tax Unit, The Investment Association

09:45 Keynote Presentation

Lord Gavin Barwell, Senior Advisor to PwC, PwC UK

10:00 Industry Panel – Thriving in the Chaos: Tax in an Unpredictable World
This session will explore the impact of political uncertainty on tax functions, how Heads of Taxes are preparing for global elections, and delve into the UK investment management tax landscape.

Moderator: Anshita Joshi, Head of Risk and Tax Unit, The Investment Association

• Grace Stevens, Director of Group Tax, Legal & General
• Tim McCann, Group Head of Tax, Schroders
• Simon McIntyre, Global Head of Tax, abrdn

10:45 Networking break

11:05 Presentation – HM Treasury Perspective: VAT in Financial Services and the Policymaking Process
This session will cover the government’s work on VAT on financial services, reflecting on developments over the last year and setting out the government’s priorities as we head towards the end of the parliament. It will also cover the policy-making process, how we work with ministers and HMRC, and how we prepare for a new parliament.

Alice Habisreutinger, Senior Policy Advisor, HM Treasury 

11:20 Industry Panel – Navigating VAT Challenges and Developments in Fund Management
This session will explore the current and emerging challenges in fund management VAT space following the conclusion of the HMT/HMRC led fund management VAT review and the repeal of EU law taking away the direct effect of EU law that UK had until now relied on.

Moderator: Jo Crookshank, Partner, Simmons & Simmons LLP

• Alan Paterson, Head of Indirect Tax, abrdn
• Magda Buchan, Head of Indirect Taxes EMEA and APAC, Columbia Threadneedle
• Alex Beattie, Director (Indirect Taxes), Deloitte UK
• David Fitzgerald, VAT Financial Services Team Leader, HMRC 
• Pauline Wilson, Executive Director - Indirect Tax, J.P. Morgan

12:00 Presentation – Current Status and Future Outlook of EU and Global Taxation
As the EU faces elections and a new Parliamentary term, the first since the UK’s exit from the EU, discover insights on what is likely to drive the tax policy debate over the next 5 year term and what challenges Europe need to rise to over this period of instability.  The session will explore global tax horizons focussing on ongoing and emerging projects.  

Julie Carbiener, Partner, Simmons & Simmons

12:30 Networking Lunch

13:30 Industry Panel – Strategic Data Governance in Tax: Navigating the AI frontier  
This session will cover how robust data governance can shape tax strategy and compliance, drive tax insights and inform decision-making. Panellists will explore AI adoption challenges, and future-proofing tax teams for the evolving landscape. 

Moderator: Justin Blackburn, Tax Partner, PwC UK

• Sarah Filbee, Head of Tax, Jupiter Asset Management
• Malcolm Powell, Head of Tax, Ninety One
• David Moffat, Senior Director, SS&C Global Investor and Distribution Services
• Roger Exwood, Senior Investment Tax Advisory Manager, Pictet Asset Management

14:10 Presentation – EU FASTER Directive: State of Play
After more than a few false dawns, the Operational Taxes landscape sits on the precipice of genuinely global and systemic change with proposed introduction of the EU’s Faster and Safer Relief of Excess Withholding Taxes (‘FASTER’).  Hear about how the Directive has grown from its CMU roots and the ever-challenging deliberations within the Council. 

Paul Radcliffe, Partner - Business Tax Advisory (BTA), EY

14:25 Industry Panel – Operational Tax Challenges in Investment Management
To debate all the latest developments within the Operational Taxes space, including industry’s views on the FASTER project, Finnish TRACE, Germany, India and more. Hear from the across the investment chain as the industry grapples with additional compliance to deliver tax relief for investors and how clients are driving the need for greater transparency in how managers are performing in accessing their entitlements.

Moderator: Paul Radcliffe, Partner - Business Tax Advisory (BTA), EY

• Mark Huyan, Global Head of Tax Product, Asset Servicing and Managing Director, State Street
• Kathy Vawter, Head of Investment Management Tax, Legal & General
• Rachel Vandervord, European Product Tax Lead, Vanguard
• Mark Friedman, Co-Founder & Co-CEO, Global Tax Recovery

15:05 Networking break

15:20 View from the HMT Asset Management Team   
As the end of the parliament approaches, this session – to be led by HM Treasury – will take stock on progress made through the government’s review of the UK’s funds regime. It also represents an opportunity for discussion of further, future policy proposals and challenges.

Matthew Parry, Head of Financial Services Taxation, HM Treasury

15:45 Industry Panel – Diversifying Strategies & Private Assets
As business models struggle to keep pace with new asset classes, evolving markets, technology and geo-political risk, hear how managers are developing frameworks and governance models to cope as they undergo the shift into more diversified strategies. 

Moderator: Gavin Kan, Partner, Financial Services, KPMG UK

• Frances Yang, Senior Product Tax Manager, M&G plc
• Rachel Buggle, Director EMEA Product Tax at BlackRock
• Christopher Austin, Head of Tax, Schroders Capital
• Hassan Kasim, Head of Private Assets Tax, Fidelity International 

16:25 IA Closing Remarks

Anshita Joshi, Head of Risk and Tax Unit, The Investment Association

16:30 Drinks Reception

Anshita Joshi, Head of Risk and Tax Unit, The Investment Association
Anshita Joshi is the Head of Risk and Tax at the Investment Association, where she leads the development and execution of the IA's agenda on UK, EU, and international risk and tax policy matters impacting the investment management industry. Anshita is an industry professional with over 18 years of experience in the investment management sector. Prior to joining the IA, she was a senior manager in PwC's asset management team.

Lord Gavin Barwell, Senior Advisor to PwC, PwC UK
Gavin Barwell started working for the Conservative party headquarters in 1993 and worked closely with Party leaders until the 2010 election. He was an MP for Croydon Central from 2010 to 2017, during which time he also served as the Minister of State for Housing & Planning and Minister for London from 2016 to 2017. Subsequently Gavin served as Chief of Staff to the former Prime Minister, Theresa May, from 2017 to 2019. He shares distinctive and highly relevant insights into UK politics and geopolitics, identifying trends, opportunities, challenges and risks. Gavin advises a number of businesses across a range of sectors as well as supporting charitable foundations.

Grace Stevens, Director of Group Tax, Legal & General
Grace has been the Chief Tax Officer at Legal & General Group since 2015 having joined the L&G tax team in 2011. She is a member of the CBI Tax Committee, chairs the IA Tax Strategy Committee, chairs the advisory panel for the Winmark Tax Directors Network and is a member of the CBI Financial Services Council.

Grace has expertise across UK and international tax specialising in real estate and financial services. Before joining L&G Grace worked at RSA, Deloitte and qualified with Arthur Andersen. Grace is a Trustee and Treasurer of the charity Women In Prison.

Tim McCann, Group Head of Tax, Schroders
Tim is the Group Head of Tax at Schroders. He is responsible for all taxation matters impacting the group and its products, including tax strategy, the supporting tax governance framework and the management of tax risk. He joined Schroders in November 2015 having spent 19 years at PwC where he was a Tax Partner, servicing a range of clients across the asset management sector. Tim represents Schroders on a number of industry bodies including the Investment Association Tax Strategy Group and the European Fund and Asset Management Association Tax and Accounting Committee. Tim has played a leading role in helping the industry to respond to policy developments across the asset management sector for a number of years. Areas of particular focus have included the OECD Pillar 1 and 2 proposals, DAC6, ATAD III and various aspects of UK and EU VAT policy. Tim is a Chartered Accountant and has a degree in Economics with European Study from the University of Exeter.

Simon McIntyre, Global Head of Tax, abrdn plc
Simon leads the tax function at abrdn plc, overseeing tax matters for the group and its global fund range.  He has over twenty years of experience advising financial services organisations and multinational groups on UK and international tax matters.  Simon joined abrdn in 2007, having previously worked with Ernst & Young, HSBC and Deloitte in London and Edinburgh.  Simon is a member of the Institute of Chartered Accountants of England and Wales, and a Chartered Tax Advisor. 

Alice Habisreutinger, Senior Policy Advisor, HM Treasury
Alice is the Head of Financial Services VAT and Insurance Premium Tax at HM Treasury, and also works on broader VAT strategy (including reliefs and the threshold). Before this role Alice worked in HMRC on customs policy as well as two other roles in HMT, one being social care spending and the other being insurance regulation, working on the reform of Solvency II.

Jo Crookshank, Partner, Simmons & Simmons LLP
Jo leads the firm’s indirect tax financial services advisory practice and is also the lead tax partner for a number of financial services clients, including some of the world’s leading banks and investment advisers. She has more than 20 years of experience advising clients on complex domestic and cross-border tax issues, including thirteen years at a Big Four practice prior to joining Simmons & Simmons.

Alan Paterson, Head of Indirect Tax, abrdn
Alan Paterson is the Head of Indirect and Operational Taxes at abrdn having been with the company for the last eight years.

Alan graduated from Sheffield University with a Masters Degree in Mathematics and subsequently qualified as a Chartered Tax Adviser at PwC in Edinburgh. Over a thirteen year career at PwC in London and Sydney, Alan worked with a broad range of Financial Services clients on VAT, GST and other indirect tax matters

Alan is the current Chair of the IA VAT Committee, and has spent recent months in that role engaging with both HM Treasury and HMRC around the conclusion of the Investment Management VAT Review. Alan is a member of the EFAMA VAT Taskforce.

Magda Buchan, Head of Indirect Taxes EMEA and APAC, Columbia Threadneedle

Alex Beattie, Director (Indirect Taxes), Deloitte
Alex Beattie is a Director in Deloitte’s specialist VAT Financial Services and Insurance Group. He specialises in advising the investment and wealth management sector, and his clients include investment banks, asset and fund managers, private equity houses and financial intermediaries. He has over 17 years’ experience of advising on the planning and implementation of complex transactions – made up of 3 years as a qualified tax lawyer at Clifford Chance and 14 years as a VAT specialist at Deloitte.

David Fitzgerald, VAT Financial Services Team Leader, HMRC
David joined HM Customs and Excise Customs Directorate in 1988. Since then he has held a variety of frontline and policy lead roles in the Customs, Excise and Indirect Tax disciplines. In 2011 he was recruited by KPMG as a Tax Manager, specialising in Environmental Taxation Advisory. In 2015 he became Senior Tax Manager at EY. David re-joined HMRC in 2018, focusing on Customs frontier controls policy in the EU Exit space. In 2020 he became the Financial Services VAT policy lead in HMRC’s Indirect Tax Directorate.

Pauline Wilson, Executive Director - Indirect Tax, J.P. Morgan
Pauline joined J.P.Morgan in 2006 and prior to was with EY in London specialising in Financial Services for 5 years where she qualified as a Chartered Tax Adviser.

Julie Carbiener, Partner, Simmons & Simmons LLP
Julie focuses on direct and indirect tax aspects of real estate, private equity and debt transactions. Julie also deals with the structuring of Luxembourg regulated and unregulated investment funds. She also has significant experience in tax litigation and value added tax (VAT). She is a member of the Luxembourg and the French Bar and also of the International Fiscal Association (IFA).
Julie has two master's degrees from the University of Strasbourg, in private law and business law.

Justin Blackburn, Partner - Tax, PwC United Kingdom
Justin is a Partner at PwC where he leads their Financial Services Tax Transformation and Compliance business.  Justin has spent his 30 year career across consultancy and in-house roles delivering transformation projects across finance, tax and treasury functions.   Justin gets involved in a broad range of tax operations change programmes that spans across systems and technology, people, data and governance.  Justin also leads some of PwC's largest tax outsource contracts and broader finance and tax managed service contracts.

Sarah Filbee, Head of Tax, Jupiter Asset Management
Sarah Filbee is Head of Tax at Jupiter Asset Management, where she worked for over 10 years. As Head of Tax at Jupiter, Sarah has responsibility for global tax matters related to the listed Group and the funds under management. Sarah has over 25 years tax experience working across a range of financial services firms, having first qualified at PwC, then later as a Tax Director at Lehman Brothers for over 9 years, and as Investment Tax Director at the Phoenix Group. 

Sarah is the current chair of the IA Tax committee, a current member of the IA Tax Strategy committee and a member of the Efama Tax and Accounting Standing Committee.

Malcolm Powell, Head of Tax, Ninety One
Malcolm has been Head of Tax at Ninety One since 2012, having previously worked in accounting firms, JP Morgan and Morgan Stanley. At Ninety One he has responsibility for all tax matters for the group and fund products, including in particular product tax matters and AEOI. He is a former chair of the IA Tax Committee.

David Moffat, Senior Director, Proposition & Industry Affairs, SS&C Global Investor and Distribution Services
David leads proposition development, marketing and industry affairs functions for SS&C Global Investor & Distribution Solutions in the UK and Europe.

Born in Zimbabwe and educated in Scotland, David has spent 20 years in the asset management industry with Fidelity, Threadneedle and JPMorgan before joining IFDS, now SS&C, in 2007.

David sits on a number of UK and European industry boards, committees and steering groups and is the current Chair of TeX, the industry standards setting body for the asset transfers in the UK.

Roger Exwood, Senior Investment Tax Advisor, Pictet Asset Management
Roger has worked in asset management taxation since 1994. In roles for Deutsche Asset Management, UBS Asset Management, BlackRock and now Pictet Asset Management he has particularly focussed on product taxation (for both listed and private assets) , but also covered corporate, VAT and M&A tax aspects. He has held regional responsibility for Europe, Asia and Latin America. He has a long standing involvement in tax public policy work, covering issues round the world and working in particular with EFAMA, where has was chair of the tax committee for many years.

Paul Radcliffe, Partner | Business Tax Advisory (BTA), EY
Paul is EY’s Asset Servicer Tax Leader, with a focus on global operational taxes (withholding, capital gains and stamp taxes). He works with clients who interact with custodian banks to provide tax performance improvement, oversight and governance. Paul is EY’s lead on the EU’s FASTER initiative. He previously worked on the OECD’s TRACE initiative and other withholding tax initiatives. He has over 20 years of professional experience of running global operational tax projects for custodians. He is a frequent author of operational tax articles for the financial press and speaker at tax conferences on topics such as tax governance; tax performance improvement; management of custodian relationships. Recent articles have discussed the tax implications of the European Commission’s FASTER initiative. 

Mark Huyan, Global Head of Tax Product, State Street
Mark is the Global Head of Tax Product for State Street’s Asset Servicing business and is responsible for product delivery and risk management for tax services across the firm’s custody and fund services product families. Prior to State Street he was an Executive Director in the Product Tax Advisory team at a tier one investment bank and began his career in tax prosecutions at the Australian Taxation Office. Mark is an active contributor to tax advocacy and policy discussions with supranational organisations and governments – he is the Co-Chair of the Association of Global Custodians Tax Committee, Vice Chair of the European Banking Federation Tax Committee, and a member of the Association for Financial Markets in Europe, Investment Association, UK Finance and International Tax Banking Federation tax committees.

Kathy Vawter, Head of Investment Management Tax, Legal & General
Kathy is the Head of Investment Management Tax at Legal & General, where she has responsibility for all tax matters impacting LGIM and other investment managers in the Group. Kathy is involved in international expansion, strategic planning for new product launches, as well as the tax operations of existing funds. Kathy has nearly 20 years tax experience, previously with PwC and EY as well as working at a custody bank. Kathy sits on the IA Tax Committee and is vice-chair of the Irish Funds International Tax Specialist Group.

Rachel Vandervord, European Product Tax Lead, Vanguard
Rachel is European Product Tax Lead at Vanguard and has >10 years of experience within asset management tax. Rachel maintains responsibility for all tax matters impacting the Vanguard European fund range, providing strategic support on product launches and changes, as well as becoming heavily involved in operational taxes management. Before joining Vanguard, Rachel was a manager in the asset management tax team at Deloitte, specializing in investor tax reporting.

Mark Friedman, Co-Founder & Joint CEO, Global Tax Recovery
Mark Friedman is the Co-Founder and Joint CEO of Global Tax Recovery. Before founding Global Tax Recovery, Mark was a Leadership and Strategy consultant for several public and private sector entities. Mark is passionate about philanthropy and is an altruistic kidney donor.

Matthew Parry, Head of Financial Services Taxation, HM Treasury
Matt Parry is the head of financial services taxation in HM Treasury’s Corporate Tax Team. He joined the team in 2019, and has responsibility for direct tax policy across banking, insurance, funds and asset management. Before that, he held a series of other policy roles within the department.

Gavin Kan, Partner, Financial Services, KPMG UK
Gavin has experience and expertise in fund product and investment related tax matters across public and private assets. He joined KPMG in July 2023 from a leading UK asset manager where he led the Product tax team for 9 years and gained deep practical experience on the design, implementation and operation of different fund structures. Prior to this he spent almost 10 years at another leading accountancy firm where he qualified as a Chartered Accountant and worked in the investment management tax team.

Frances Yang, Senior Product Tax Manager, M&G Investments
Frances is a Senior Product Tax Manager at M&G where she manages a team of 3 specialists and is responsible for tax matters for funds located in Ireland, Luxembourg and the UK across the M&G wholesale and private markets funds business. She and the team cover the whole product life cycle ranging from product development and fund launches, deployment of capital in complex transactions, operational tax matters, the ongoing compliance of funds as well as the merging and closure of funds in due course. She frequently fields investor tax queries and participates in due diligence exercises involving investors and the investment teams across a range of sectors. Frances has been working at M&G for over 8 years. Prior to this, she worked in the investment management tax team at a leading accountancy firm where she qualified as a Chartered Accountant and a Chartered Tax Advisor. Frances is a member of the Tax Committee of the Investment Association and regularly participates in Government consultations on tax matters relating to the asset management industry.

Rachel Buggle, Director EMEA Product Tax at BlackRock
A Director within the EMEA Product Tax team of BlackRock, Rachel Buggle plays a pivotal role in delivering expert tax advice and support to the firm's diverse client base and product platforms. A graduat of Reims Management School, Rachel hold a dual degree in European business and has firmly established herself in the asset management sector, gaining a deep understanding of its scope and the role of financial markets. Based in London, Rachel's expertise focuses on international tax and UK product offerings. Her contributions are far reaching, supporting product platforms and clients throughout Europe. Rachel's meticulous attention to detail and unwavering commitment to excellence have been key drivers in advancing significant projects and initiatives at BlackRock.

Among her notable achievements, Rachel has been instrumental in shaping the UK CCO policy, enhancing tax reporting processes through automation, and fortifying governance and control frameworks. As a proponent of innovation and continuous improvement, Rachel is always exploring new avenues to refine the tax function and uphold the highest quality standards for clients. Her efforts have been crucial in defining BlackRock's policy stance in the UK and shaping the firm's response to the evolving UK Funds regime. Rachel's recent projects include advancing the Long Term Asset Fund, carefully considering tax implications and operational models for these new products.

Rachel's passion extends beyond tax and product innovation; she is deeply committed to fostering team growth and nurturing talent. As the co-chair of the Finance analyst program, Rachel is instrumental in sculpting the program's structure and trajectory, offering guidance and mentorship to the next generation of analysts.
When not dealing with the intricacies of tax, Rachel can be found at home indulging in culinary pursuits, reading, and planning future family adventures. Her personal interests not only enrich her life but also bring a unique perspective to her professional endeavors.

Christopher Austin, Head of Tax, Schroders Capital
Christopher is an experienced tax advisor with over 25 years’ experience in the investment management industry. He has been at Schroders since April 2006 and has expertise in a wide range of international taxes. Before Schroders he was at Deloitte for 8 years where he qualified as a Chartered Accountant and Chartered Tax Adviser, working in the banking, investment management, and real estate sectors as well as a period working on tax policy.

Christopher’s current focus is supporting the growth of the Schroders Capital private assets business through close working with the investment and product teams to meet investors' objectives and manage tax risks effectively, and providing tax due diligence and transaction support on acquisitions, both for the Schroders group and on behalf of investors.

Hassan Kasim, Head of Private Assets Tax, Fidelity International
Hassan is responsible for tax matters relating to Fidelity’s Private Assets business. He has a particular focus on structuring, transactions and tax governance and currently looks after both regulated and unregulated solutions across real estate, private equity, private credit (which includes a programme of CLOs) and multi-asset.

Hassan was previously at EY within their Wealth and Asset Management Tax practice. Hassan is a Chartered Accountant and a Chartered Tax Advisor.

Headline principal partner:

Global Tax Recovery is a global specialist that provides investors with a simple and seamless turnkey solution to recovering excess withholding tax that has been deducted by foreign tax offices on cross-border dividends and interest earned.

Global Tax Recovery is exclusively focused on withholding tax recovery and counts many of the world’s top-tier financial institutions, banks, asset managers, wealth managers, and pension funds as our clients.

We manage the entire administrative burden and ensure a hassle-free claim process by handling the recovery from beginning to end.

Our thorough knowledge of both international tax law and foreign tax office procedures ensures that we resolve your specific claim successfully and in the shortest possible time.

Our extensive geographical footprint and global network of specialists cover all the relevant investment jurisdictions and are on the ground waiting to assist. These teams can accommodate any client’s specific needs and are experts in their local jurisdictions.

Kindly hosted by:

Simmons & Simmons is an international law firm that acts as your business partner and works with you, not just for you. Client-focused, collaborative, agile and partner-led. A law firm that challenges, creates new possibilities and offers opinions not just options. This is how we consistently deliver smarter, more efficient ways to tackle our clients’ most complex challenges.

We operate across the UK, Continental Europe, Ireland, the Middle East and Asia. For us, the smartest business solutions come when we work together – internationally, with local knowledge, operating as one integrated team.

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