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Matrimonial Asset Valuation Services About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com. Ernst & Young LLP The UK firm Ernst & Young LLP is a limited liability partnership registered in England and Wales with registered number OC300001 and is a member firm of Ernst & Young Global Limited. Ernst & Young LLP, 1 More London Place, London, SE1 2AF. © 2016 Ernst & Young LLP. Published in the UK. All Rights Reserved. ED None EY-000010100.indd (UK) 11/16. Artwork by Creative Services Group Design. Information in this publication is intended to provide only a general outline of the subjects covered. It should neither be regarded as comprehensive nor sufficient for making decisions, nor should it be used in place of professional advice. Ernst & Young LLP accepts no responsibility for any loss arising from any action taken or not taken by anyone using this material. ey.com/uk EY | Assurance | Tax | Transactions | Advisory The Matrimonial Valuation Team Chris Richardson | Partner T: + 44 20 7951 0051 E: [email protected] David Bell | Senior Manager T: + 44 141 226 7333 E: [email protected] Sara Fowler | Partner T: + 44 121 535 2311 E: [email protected] David Kilshaw | Partner T: + 44 20 7783 0763 E: [email protected] Steve Taylor | Partner T: + 44 20 7951 4302 E: [email protected] Alan Wallis | Executive Director T: + 44 20 7951 3742 E: [email protected]

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Page 1: Matrimonial Asset aluation - Building a better working … Fold Fold Fold Matrimonial Asset aluation Services About EY EY is a global leader in assurance, tax, transaction and advisory

Fold Fold

Fold Fold

Matrimonial Asset Valuation Services

About EYEY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.

Ernst & Young LLPThe UK firm Ernst & Young LLP is a limited liability partnership registered in England and Wales with registered number OC300001 and is a member firm of Ernst & Young Global Limited.

Ernst & Young LLP, 1 More London Place, London, SE1 2AF.

© 2016 Ernst & Young LLP. Published in the UK. All Rights Reserved.

ED None

EY-000010100.indd (UK) 11/16. Artwork by Creative Services Group Design.

Information in this publication is intended to provide only a general outline of the subjects covered. It should neither be regarded as comprehensive nor sufficient for making decisions, nor should it be used in place of professional advice. Ernst & Young LLP accepts no responsibility for any loss arising from any action taken or not taken by anyone using this material.

ey.com/uk

EY | Assurance | Tax | Transactions | AdvisoryThe Matrimonial Valuation Team

Chris Richardson | Partner

T: + 44 20 7951 0051 E: [email protected]

David Bell | Senior Manager

T: + 44 141 226 7333 E: [email protected]

Sara Fowler | Partner

T: + 44 121 535 2311 E: [email protected]

David Kilshaw | Partner

T: + 44 20 7783 0763 E: [email protected]

Steve Taylor | Partner

T: + 44 20 7951 4302 E: [email protected]

Alan Wallis | Executive Director

T: + 44 20 7951 3742 E: [email protected]

Page 2: Matrimonial Asset aluation - Building a better working … Fold Fold Fold Matrimonial Asset aluation Services About EY EY is a global leader in assurance, tax, transaction and advisory

We are a national practice with expertise across the whole of the UK

Meet the core teamThe origins of Matrimonial Asset Valuation Why choose EY?

What services can EY help with?

Understanding the local market

Our experience of valuing complex businesses

Our experience of giving evidence

Ability to focus on the key issues

Understanding the legal process

Our experience of similar cases

Competitive pricing

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Sara is the senior partner of EY’s Midlands practice and a partner in the Fraud Investigation and Dispute Services (FIDS) practice. Sara is a highly experienced forensic accountant who has been appointed to act as Single Joint Expert and expert witness in High Court cases and in ADR proceedings. Sara is a member of the Academy of Experts and a CEDR-accredited mediator.

Sara Fowler

Steve is a Chartered Accountant and a Member of the Expert Witness Institute and has been valuing businesses, shares and intellectual property for over 20 years.

He has been diposed in the US, submitted expert reports to the courts in London (LCIA), Hong Kong, Jersey, Austria, Israel and Luxembourg, acted on numerous divorces in the Family Courts, mediated on behalf of clients, been appointed by the President of the Institute of Chartered Accountants of England and Wales to settle disputes and performed many binding opinions under Articles of Association or legal contracts.

Steve Taylor

David is a tax partner in EY’s private client team with over 30 years of experience of advising high net worth individuals. He has a wealth of matrimonial experience dating back to his articles as a matrimonial lawyer with the legendary Blanche Lucas (David is a former solicitor). He advises on the personal tax aspects of matrimonial law and has appeared as an expert witness, including in the Charman case.

David Kilshaw

The Matrimonial Asset Valuation team has come together to respond to increasing demand from lawyers and clients to provide holistic forensic, valuation, taxation and accounting services in the context of divorce.

It has joined a number of specialist practitioners from across our firm to work more closely in supporting you and your clients.

Our experience over recent years has seen:

► Increasing complexity of asset ownership structures such that spouses have concerns over the completeness and integrity of Schedule E disclosure

► Challenging commercial and economic backdrops for valuing businesses or assets — a recession that continues to hold growth back, political uncertainty over fiscal policy as the Government seeks to reduce the deficit and cost of capital in a low interest environment

► More challenge as to the robustness of financial statements and a better understanding of intra-group/intra-related party charges

► Increasing complexity and impact of tax laws

► More and more of our clients are asking for ‘track and trace’ style services

Valuations are becoming more contentious even when acting as Single Joint Expert and tax structuring is key to assessing the true net worth position of the parties, particularly if there is a trust or overseas element.

What we do for our clientsWe pride ourselves on a bespoke approach to each engagement and can deliver discrete services for you through to delivering a fully integrated solution. Our services fall into three key areas of:

ForensicWe are able to carry out a range of forensic accounting services to assist you and your client understand complex business structures, related party transactions and sources of income. Tracking and tracing assets along with business intelligence investigations on individuals and associated businesses can often add that missing piece of the puzzle when valuing matrimonial assets.

ValuationWe provide valuations for the courts on businesses, real estate, shares in unquoted companies, brands, patents, copyright & licences. Often, particularly in the London market, we work for celebrities, musicians or sports personalities with a complex set of assets and income streams.

TaxationTax can have a critical impact on the net result but also the client’s approach. We can analyse the tax consequences of proposed re-adjustments, inform you how trusts will be taxed and advise on the most tax efficient structuring for both the parties and their assets (including relevant corporate tax charges).

Our holistic role is to give confidence that the spouse’s assets and income streams have been correctly identified, valued and understood on a post tax basis.

Whilst this is the core team, we pride ourselves on having strength in depth, and have the ability to call upon a UK wide team that has specialist expertise in a number of areas and a significant amount of experience in dealing with matrimonial disputes and valuation work. As a global firm we have partners overseas who can support us when dealing with foreign entities.

Fore

nsic

Valuation

Taxation

Situation How we can help

Valuing complex businesses and groups

We are able to analyse group structures and complex businesses and provide a valuation that clients, their representatives and the Court can understand.

Patent and brand valuations

We can value intellectual property assets that may not appear on a balance sheet but often provide the real drivers of value in a business.

Attaching a value to royalty assets

We can provide a capital value for future income streams attaching to royalties or licences.

Missing and unknown assets

Our business intelligence and forensic accounting expertise can assist in tracking and tracing assets, providing clients and the Court with a clear picture of where assets are and their values.

Uncertain tax implications

We can add real value by demonstrating the tax implications of potential transactions or restructuring. We can illustrate options that show how deals can be made to work for both parties by making them tax efficient.

Acting as shadow expert We can work with you to review valuations by other experts, or Single Joint Experts and assist you in understanding them, critiquing them, challenging them and ensuring a robust and fair valuation is achieved.