Paying your dues: Ryan McSharry and Matthew Gilleard write for eprivateclient
Louis XIV’s Finance Minister said the art of taxation consists in so plucking the goose as to obtain the largest number of feathers with the least amount of hissing.
As 2021 approaches, the art of taxation becomes ever trickier. The pandemic has triggered an economic downturn as governments need to begin bolstering depleted treasuries in the wake of huge redirection of public resource. This is a perfect storm for significant public and media scrutiny of tax behaviour and changing attitudes to wealth and the wealthy.
Today’s geese, therefore, must communicate in a more nuanced manner than simply hissing. Equally important is the role of private client advisers, who must help HNWIs to tread carefully, not just aiding them to meet their fiscal obligations, but their reputational (and arguably moral) responsibilities also.
This is the subject discussed by Ryan McSharry and Matthew Gilleard in a new article published by eprivateclient.