Michael Lewis

Spear’s Review

Michael Lewis, the personable adviser within EY’s US/UK cross-border team, is rated by peers as a safe pair of hands with the knowledge to allay the fears of UHNW clients during times of turbulence.

He has over 25 years of experience in the field of US tax, and originally learned his trade within the ‘Big Four’. Since pursuing a career in the private client space, he has learned an invaluable lesson: ‘Service is about actually understanding what motivates a client and what they truly want to achieve,’ he says.

Recent matters include a trust advisory and compliance project for a UHNWI in a dispute with her family, which generated initial fees in excess of £200,000, and a UK and US tax opinion on a ‘pre-A Day’ international pension plan (established prior to the changes in the UK pensions landscape) with fees of £80,000. 

Adviser Profile

Michael Lewis, Partner at EY’s US/UK Cross Border team, says the practice is ‘always looking to be more than just pure tax advisers – we want to be their trusted adviser’.

The business model is a win-win situation, as both Lewis and his high-net-worth clients emerge satisfied from a conscientious, long-lasting relationship. ‘We have complimentary annual meetings with clients, which actually lead to more work,’ he explains. ‘At times, it leads to us introducing them to a trusted global network of advisers, too.’

Specialised in advising clients within financial services and especially those in the private equity and private markets area, his clients include private equity executives, owner managers, entrepreneurs and clients from the world of investment banking.

Most of those who approach him have a US nexus, as he is a UK-chartered tax adviser who is licensed to practise before the Internal Revenue Service in the US as an enrolled agent. His practice areas include US/UK interaction on personal income and capital taxes (including tax treaty interpretation), US pre-immigration tax planning, US compensation and withholding rules, as well as advice on US estate tax and UK inheritance tax interaction. He also has a keen interest and is a regular writer in respect to the UK carried interest rules and UK/US dual-qualified charitable planning.

Lewis has recently seen a significant increase in tax uncertainty. ‘Calls for assistance have increased. There is lots of work out there for us to advise upon and add value to,’ he says of the growing field of US/UK tax. ‘The limitations are time and resources.’