Written by: Robert Lee Williams, Dawn Nicholson, Richard P Layman

Explaining the estate and trust planning tax rules on one side of the Atlantic to advisers on the other, lucidly but accurately, is often the hardest task faced by those of us who advise the vast number of clients subject to both US and UK tax (who may be expats, Brits married to US citizens or vice versa, investors, or have extended families including residents in both countries). Lee Williams, Rick Layman and Dawn Nicholson have done just that in Butterworth’s Guide to US/UK Private Wealth Tax Planning. This is not just an update of their much admired 1992 BNA leaflet US/UK Integrated Tax Planning: Estates, Gifts and Trusts, but a wholly new and substantial tome. Increased in scope and current through September 2004 – the relevant tax laws have changed substantially since 1992 and continue to do so – the book also includes many practical suggestions and planning ideas.

Well organised and clearly presented, it is accessible to tax advisers on either side of the Atlantic. Arranged by topic, it draws helpful analogies between the two systems – sometimes remarkably similar, but often surprisingly (and dangerously) different. The first half of the book tackles the relevant basic rules, striking a good balance between comprehensibility and thoroughness. I especially commend the introduction, which elegantly sets out most of the basic concepts that invariably take up a great deal of time explaining to new professional clients. The second half of the book provides helpful outlines of practical planning suggestions and considerations.

While this book may not enable the uninitiated to undertake complex planning unassisted – if nothing else, the ever-changing fiscal landscape requires the assistance of competent advisers – it is an invaluable aid to understanding and spotting cross-border issues, which are far more numerous than most advisers imagine. Even more so than the 1992 work, this is an essential item.

Reviewer: Ian Watson, New York lawyer and solicitor, is a former partner of Withers LLP and is transferring to the Bar.

Solicitors Journal. July 2005

This book is a highly valuable resource for anyone involved in the taxation planning activities for high net worth US or UK residents, US or UK domiciled individuals or those living or domiciled anywhere in the world who have assets or family members located in the United Kingdom or the United States.

'Guide to US/UK Private Wealth Tax Planning' from Tottel Publishing is a specialist title but an accessible one. It is well written, concise, expertly researched and it not only gives the essential facts about taxation in each nation but it offers detailed practical and applicable examples for many scenarios that the reader or reader's clients could find themselves in – and for this reason the book comes highly recommended.

There is a great deal of clearly presented, factual information about the different types of tax, who and what is taxed, exemptions and deductions in both the US and UK in 'Guide to US/UK Private Wealth Tax Planning' which allows taxation planners to quickly access facts, figures and information applicable to their client; but the authors of this book go so much further than the mere provision of centralized factual information.

Robert L Williams, Richard P Layman and Dawn Nicholson who are the legal and financial experts who have compiled and created this resource provide the reader with an almost limitless wealth of examples and scenarios to use for the practical understanding of unilateral and treaty planning techniques and the utilization of integrated taxation advice.

For those who are exposed to both US and UK taxation there are integrated solutions available, for those who are likely to face inheritance tax or estate tax liabilities there are ways demonstrated for the mitigation of liability and there are optimal ways demonstrated for the reduction of income and gains taxation from foreign trusts with US or UK based beneficiaries for example.

'Guide to US/UK Private Wealth Tax Planning' is a one of a kind publication because it not only collates every conceivable useful taxation fact it provides an almost immeasurable wealth of value to the reader because it has been compiled and illustrated through example by three experts whose constant work is dedicated to successful taxation planning for their high net worth individual clients. As a result the book gives the reader such an incredible head start and this is why we can recommend it so strongly.

ShelterOffshore.com October '06

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