Simon McKie

Last updated

Simon McKie is the chairman and a designated member of McKie & Co (Advisory Services) LLP. He is also a writer and lecturer on taxation and other matters and a contributor to the charitable [1] and technical activities of a number of professional bodies.

Contents

McKie was educated at Christ's Hospital [2] and at Lincoln College, Oxford, where he studied English Language and Literature. He subsequently qualified as a Chartered Accountant, Chartered Tax Adviser, [3] Barrister and Trust and Estate Practitioner. [4]

McKie has specialised in private client taxation since the early 1980s. He was formerly a Director of Rathbones, a partner in, and head of, the City tax practice of, Robson Rhodes (chartered accountants) and the Head of Taxation at Coutts & Co.

Contribution to wider professional life

McKie has sat on a large number of professional committees, including the technical committees of the Chartered Institute of Taxation and the Faculty of Taxation Currently he sits on the Technical Committee of the Society of Trust & Estate Practitioners. [5] He has sat on a number of joint committees of the tax profession and her Majesty's Revenue and Customs (and its predecessor bodies) including the 'Tax Law Rewrite Consultative Committee'. [6] He has been an elected member of the governing Council of the Institute of Chartered Accountants in England & Wales. [7] He is a former Chairman of the Faculty of Taxation, [8] of the Faculty's Inheritance Tax and Trusts Sub-Committee [9] and of the Capital Taxes Sub-Committee of the Chartered Institute of Taxation. He is a current member of the Capital Gains Tax and Investment Income Sub-Committee [10] and the Succession Taxes Sub-Committee [11] of the Chartered Institute of Taxation.

Technical writing and lectures

McKie on Statutory Residence has been described as the book 'to which the tax scholars of the future will turn for an example of how we made law in the early part of the 21st century', and as 'the authoritative introduction to an area of continuing importance'. [12]

McKie was formerly on the editorial boards of Taxation, [13] the Tax Journal [14] and TAXline [15] and was the Capital Gains Tax correspondent of Private Client Business. [16]

With his wife, Sharon McKie, he writes and edits an e-magazine on private client taxation entitled the 'Rudge Revenue Review'. [17] [18] He also writes a blog on taxation matters of relevance to private clients and their advisers entitled the 'Hissing Goose'. [19]

Shortlistings in Taxation Awards

McKie has been shortlisted for the award of Tax Writer of the Year in Taxation magazine's annual Taxation Awards in every year from 2010 to the latest year, 2015. [20]

Other writings

On cider making

McKie has also written a guide to cider making entitled Making Craft Cider – A Ciderist's Guide

Foundation and chairmanship of McKie & Co

History and structure

On leaving Coutts & Co (where he was Head of Taxation), [21] McKie established a practice under the name McKie & Co [22] on 1 November 1998 to provide taxation consultancy advice on matters of taxation affecting the private client, primarily to accountants, solicitors and other advisers of private clients. McKie & Co (Advisory Services) LLP ('MCLLP'), a limited liability partnership which was registered in England and Wales under registration number OC300925, [23] succeeded to the practice of McKie & Co on 1 January 2002. The members and designated members of MCLLP are Sharon McKie [24] and Simon McKie. [24]

Awards

MCLLP has twice won the Award of Tax Consultancy Firm of the Year in Taxation magazine's Taxation Awards most recently in 2012 and 2015. [25] It won the award for the Boutique Firm of the Year in the Society of Trust and Estate Practitioners Awards in 2009/2010 [26] being short listed again in 2013/2014. [26]

Services

The services which MCLLP provides to its clients fall into three categories. [27]

First, it provides bespoke direct taxation advice to solicitors, accountants and other advisers of private clients throughout the country and overseas, covering all of the United Kingdom direct taxation issues which face private clients and advice on the interaction of UK direct taxation with the taxation of other jurisdictions. [28] Secondly, it provides litigation support in respect of private client taxation and its principals act as expert witnesses. It provides guidance on any direct taxation issues concerning the private client which are at issue in a dispute, in particular in litigation with HMRC or involving allegations of professional negligence. It provides advice and support in respect of mediation. [29] Thirdly, McKie & Co provides bespoke taxation advice to private clients in respect of their taxation affairs and dealings with Her Majesty's Revenue & Customs. [30]

Related Research Articles

The Big Four are the four largest professional services networks in the world: Deloitte, EY, KPMG, and PwC. They are the four largest global accounting networks as measured by revenue. The four are often grouped because they are comparable in size relative to the rest of the market, both in terms of revenue and workforce; they are considered equal in their ability to provide a wide scope of professional services to their clients; and, among those looking to start a career in professional services, particularly accounting, they are considered equally attractive networks to work in, because of the frequency with which these firms engage with Fortune 500 companies.

<span class="mw-page-title-main">Accountant</span> Practitioner of accounting or accountancy

An accountant is a practitioner of accounting or accountancy. Accountants who have demonstrated competency through their professional associations' certification exams are certified to use titles such as Chartered Accountant, Chartered Certified Accountant or Certified Public Accountant, or Registered Public Accountant. Such professionals are granted certain responsibilities by statute, such as the ability to certify an organization's financial statements, and may be held liable for professional misconduct. Non-qualified accountants may be employed by a qualified accountant, or may work independently without statutory privileges and obligations.

Deloitte Touche Tohmatsu Limited, commonly referred to as Deloitte, is a multinational professional services network. Deloitte is the largest professional services network by revenue and number of employees in the world and is considered one of the Big Four accounting firms along with EY, KPMG and PwC.

<span class="mw-page-title-main">Chartered Institute of Taxation</span>

The Chartered Institute of Taxation (CIOT) is a registered charity and the leading professional body in the United Kingdom concerned solely with taxation. The CIOT deals with all aspects of direct and indirect taxation.

<span class="mw-page-title-main">Institute of Chartered Accountants in England and Wales</span> UK professional organisation

The Institute of Chartered Accountants in England and Wales (ICAEW) is a professional membership organisation that promotes, develops and supports chartered accountants and students around the world. As of July 2022, it has over 198,000 members and students in 147 countries. ICAEW was established by royal charter in 1880.

Grant Thornton LLP is the American member firm of Grant Thornton International, the seventh largest accounting network in the world by combined fee income. Grant Thornton LLP is the sixth largest U.S. accounting and advisory organization. The firm operates 59 offices across the US with approximately 8,500 employees, 550 partners, and produces annual revenue in excess of US$1.9 billion.

<span class="mw-page-title-main">Association of Chartered Certified Accountants</span> Global professional organization

Founded in 1904, the Association of Chartered Certified Accountants (ACCA) is the global professional accounting body offering the Chartered Certified Accountant qualification (ACCA). It has 240,952 members and 541,930 future members worldwide. ACCA's headquarters are in London with principal administrative office in Glasgow. ACCA works through a network of over 110 offices and centres in 51 countries - with 346 Approved Learning Partners (ALP) and more than 7,600 Approved Employers worldwide, who provide employee development.

<span class="mw-page-title-main">Association of Accounting Technicians</span> Worldwide professional organization

The Association of Accounting Technicians (AAT) is a professional body for Accounting Technicians, with over 150,000 members worldwide.

<span class="mw-page-title-main">Financial planner</span> Professional who prepares financial plans for people

A financial planner or personal financial planner is a qualified financial advisor. Practicing in full service personal finance, they advise clients on investments, insurance, tax, retirement and estate planning.

<span class="mw-page-title-main">Private banking</span> Special banking for rich people

Private banking is a general description for banking, investment and other financial services provided by banks and financial institutions primarily serving high-net-worth individuals (HNWIs) – those with very high income and/or substantial assets. Private banking is presented by those who provide such services as an exclusive subset of wealth management services, provided to particularly affluent clients. The term "private" refers to customer service rendered on a more personal basis than in mass-market retail banking, usually provided via dedicated bank advisers. It has typically consisted of banking services, discretionary asset management, brokerage, limited tax advisory services and some basic concierge services, typically offered through a gateway provided by a single designated relationship manager.

A tax advisor or tax consultant is a person with advanced training and knowledge of tax law. The services of a tax advisor are usually retained in order to minimize taxation while remaining compliant with the law in complicated financial situations. Tax Advisors are also retained to represent clients before tax authorities and tax courts to resolve tax issues.

<span class="mw-page-title-main">RSM US</span> Tax, accounting and consulting firm based in Chicago

RSM US LLP is an audit, tax, and consulting firm focused on the middle market in the United States and Canada and is a member of the global accounting network RSM International. It is the fifth largest accounting firm in the United States and employs more than 17,000 professionals across 93 cities nationwide and in Canada. RSM US also maintains offices in India and El Salvador. Since 2012, RSM US has been headquartered in downtown Chicago.

Grant Thornton is the world's seventh-largest by revenue and sixth-largest by number of employees professional services network of independent accounting and consulting member firms which provide assurance, tax and advisory services to privately held businesses, public interest entities, and public sector entities. Grant Thornton International Ltd. is a not-for-profit, non-practising, international umbrella membership entity organised as a private company limited by guarantee. Grant Thornton International Ltd. is incorporated in London, England, and has no share capital.

Robert (Bob) Wigley, OStJ, BSc, HonDBA, FCA, CCMI, is Chairman of UK Finance, a Non Executive Director of R3 LLC and Lightico Ltd, an Executive Member of Seraphim Space Enterprise LLP and is an investor, entrepreneur and philanthropist. He is author of a book about the effects of technology on Gen Z, Born Digital: The Story of a Distracted generation. He is a non-executive director of the Qatar Financial Centre and chairman of its audit committee. He was a Founding Global Britain Commissioner during its life, is a member of the Trade Advisory Group for Financial Services at the Department for International Trade and a member of the UK's Economic Crime Strategic Board at the Home Office, co-chaired by the Home Secretary and Chancellor.

<span class="mw-page-title-main">Deepak Parekh</span> Indian businessman

Deepak Parekh is an Indian businessman and the former Chairman of Housing Development Finance Corporation, India's leading housing private development finance institution. It is based in Mumbai.

Richard Murphy is a British chartered accountant and political economist who campaigns on issues of tax avoidance and tax evasion. He advises the Trades Union Congress on economics and taxation, and founded the Tax Justice Network. He is a Professor of Accounting Practice at University of Sheffield Management School.

<span class="mw-page-title-main">David Russell (barrister)</span> Australian barrister

David Graham Russell, is an Australian barrister who specialises in international tax law.

Saffery is a firm of chartered accountants in the United Kingdom. It has nine offices across the UK as well as offshore. The firm acts for clients across specialty sectors including private wealth, landed estates and rural businesses, not-for-profit, entrepreneurs, sports and entertainment.

<span class="mw-page-title-main">BDO Global</span> International network of professional service firms

BDO is an international network of public accounting, tax, consulting and business advisory firms that provide professional services under the name BDO. It is the fifth-largest accounting network in the world. Global fee income of the member firms in the network for the year ended 30 September 2021, including the members of their exclusive alliances, totaled US$12.8 billion. Each BDO member firm is an independent legal entity in its own country. The network, founded in 1963 as Binder Seidman International Group by firms from Canada, Germany, the Netherlands, the UK and the US, is coordinated by BDO Global Coordination B.V., with an office in Zaventem, Belgium. In 1973, the organisation adopted the name BDO, made up from the initials of the three founding firms: Binder (UK), Dijker (Netherlands) and Otte (Germany).

Muhammad Mamman Nami is a Nigerian accountant, management professional, tax administrator and public officer. He is the immediate past Executive Chairman of Nigeria's Federal Inland Revenue Service FIRS, the agency responsible for assessing, collecting and accounting for tax and other revenues accruing to the Federal Government of Nigeria. He has almost three (3) decades of practical working experience in Auditing, Tax Management and Advisory and Management Services to clients in the Banking, Manufacturing Services and Public Sectors as well as Non- Profit organizations.

References

  1. The Chartered Institute of Taxation is a charity
  2. "Christ's Hospital" (PDF). Retrieved 24 November 2022.
  3. "Find a Member". Archived from the original on 15 September 2015. Retrieved 15 September 2015.
  4. "Member Profile - 0038000000giOkYAAU | STEP".
  5. "About STEP | STEP".
  6. "Archived copy" (PDF). Archived from the original (PDF) on 5 March 2016. Retrieved 15 September 2015.{{cite web}}: CS1 maint: archived copy as title (link)
  7. "Welcome to ICAEW.com". www.icaew.com.
  8. "Tax Faculty".
  9. "The Chartered Institute of Taxation | Who we are and what we do | Technical Committee - who we are and what we do". Archived from the original on 30 December 2013. Retrieved 15 September 2015.
  10. Remit of technical committee [ dead link ]
  11. Succession Taxes Sub-Committee [ dead link ]
  12. "Book Review: McKie on Statutory Residence | STEP". www.step.org.
  13. "Update - other news".
  14. Tax Journal articles [ dead link ]
  15. "TAXline". www.icaew.com.
  16. "Private Client Business - Journal | Taxation Law | Sweet & Maxwell". www.sweetandmaxwell.co.uk.
  17. Rudge Revenue Review
  18. Tax Advice
  19. "Comment & Opinion Pieces | Comment Inheritance tax planning". McKie & Co.
  20. "Taxation Awards 2015: Homepage". Archived from the original on 14 March 2016. Retrieved 15 September 2015.
  21. "Home". coutts.com.
  22. McKie & Co Advisory Services LLP Financial Statements, period ended 30 April 2002 – Profit and Loss Account
  23. "Failure Page".
  24. 1 2 McKie & Co Advisory Services LLP Financial Statements, period ended 30 April 2002 – Designated Members' Report
  25. Taxation awards winners 2015
  26. 1 2 "Home". steppca.org.
  27. "Our Services | bespoke tax advice to private clients and the advisers". McKie & Co.
  28. "Tax Advisory Services to Professional Advisers | Moving to the UK". McKie & Co.
  29. "McKie & Co Services as Expert Witnesses". Archived from the original on 20 June 2016. Retrieved 15 September 2015.
  30. HM Revenue & Customs [ dead link ]