London based ICM UK Limited has recently appointed experienced tax advisor, David Kinsella, as its Tax Director.
ICM UK is an associate company of the Douglas-based ICM Group and David will play a key part in the Group's strategic expansion and diversification of services in the UK.
David is a qualified accountant and Chartered Tax Advisor with over 11 years' experience in the industry, of which nine were in the Big Four. He has provided advice to a broad range of clients, including both small and large owner managed businesses, large international groups of companies, business start-ups, charities, asset management clients and individuals. He has also been involved in several large due diligence projects, a number of liquidations and spent time in Poland working on a large risk management project.
David worked for an accountancy firm for five years in the Isle of Man prior to relocating to London. During this time he advised both Isle of Man and UK based clients on taxation, cross border transactions, residency implications and corporate structuring, all at a time of increasing international scrutiny and anti-avoidance measures.
We asked David what attracted him to ICM:
"I grew up in the Isle of Man but currently live in London. As I have been recruited to support ICM's existing client base as well as develop the business into the UK, I feel I am perfect for the job. I have experience of both Isle of Man and UK tax and have good contacts in both jurisdictions."
The transition from working for one of the Big Four to working in a small office has been an easy one. David told us:
"It is good to work in a small office. It gives me the opportunity to spread my technical skills across a broad spectrum rather than specialise in a specific area. I am really enjoying it so far and look forward to working with colleagues on the Isle of Man and in the UK."
Pictured: VAT advisor Adrian Jones and tax advisor David Kinsella
Group director Mark Byrne, who manages ICM's corporate and fiduciary services, told us that David's appointment will benefit ICM UK and the Group as a whole:
"We have been working towards this for a few years now. As the tax environment has become increasingly complicated, we felt it essential to have our own in-house direct tax expertise to support and assist our clients. David is a key part of our future strategy and joins indirect Tax Director Adrian Jones and Legal Counsel Heather Gordon, to create a very strong in-house team of experts. David has settled in quickly and we look forward to taking our UK services to the next level."
David is keen to make sure clients and contacts are kept up-to-date and are aware of what is happening in both the Isle of Man and UK:
"This has been an interesting tax year with more changes expected in 2016. The HMRC consultation document released at the end of September regarding taxation of non-doms has arguably stolen the show in the run up to Christmas. However it is important to stay grounded!
I hope that UK tax payers with an interest in any of the crown dependencies, who are concerned that the correct level of tax might not have been declared to HMRC in the past, have spoken to their tax adviser and considered the use of a relevant HMRC disclosure facility. If this is not the case, then there is still time. Action must be taken by the end of the year, or now if you are taking the Christmas period off. Remember your tax adviser might be planning a break too!"