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Company

EY

Position

Director

Index

Accountants & Tax Advisers

Location

London, United Kingdom

Advice type

Cross-border tax

Estate planning

Tax planning

Tax, wills & trusts

US-UK tax

Client types

Non-domiciles

UHNW

Geographical focus

Italy

Guernsey

Jersey

United States

France

Sector focus

Accounting

Business and Consumer Services

Wealth Management & Private Banking

Profile

Sarah Farrow

Description

Spear's Review

Sarah Farrow is at the helm of EY Frank Hirth’s tax team, the private client offering emerging from the acquisition of Frank Hirth by EY in 2021.

Farrow, who has over two decades’ experience in complex tax issues that HNWs, businesses, family offices and sophisticated investors face, recalls advising a Middle Eastern client who approached her for help after inadvertently underreporting their UK tax after ‘years of miscommunication between the client’s bankers and their former tax advisers’.

‘The numbers were very large, and it took three months just to calculate the tax due,’ recalls Farrow. ‘We agreed on the amount with HMRC without them raising any queries, which is unusual.’ She remarks that the client successfully saved £350,000 as a result.

Adviser Profile

With over 20 years’ experience in private client tax, Sarah Farrow heads up EY Frank Hirth’s UK tax team, helping non-domiciliaries structure their tax affairs in the most efficient way possible – after understanding clients’ priorities and family dynamics’ first.

“I keep the planning and advice I provide as simple as possible,” she says. “The more complex the structuring, the more likely something will be misunderstood, and this can lead to expensive tax mistakes.”

EY Frank Hirth (formerly Frank Hirth) has been specialising in tax advice for those with a US nexus for over 40 years. She describes the acquisition of Frank Hirth by EY in May 2021 as very exciting and notes the huge benefits to her clients of being able to access the many services provided by EY worldwide. “This is a real benefit for international clients who move assets, such as yachts, planes, all over the world and often need tax advice in different jurisdictions at short notice,” she says.

She has extensive experience in advising very wealthy multinational families, entrepreneurs and highly sophisticated investors from private equity and hedge fund backgrounds on structuring their worldwide affairs efficiently.

She sees a noticeable increase in clients deciding to move to the UK or move back to the UK. As many of these clients hold wealth via structures, without advice, they can become UK resident on a move to the UK. She tries to advise clients before they arrive in the UK to avoid problems and unforeseen tax at a later stage.

The tax adviser previously trained with KPMG and is a qualified Chartered Tax Adviser (CTA) and also a member of the Society of Trust and Estate Practitioners (TEP).

Prior to embarking on a career in Tax, Farrow read Law and has a Bachelor’s degree along with a Master’s degree from Bristol University.

Rank: Recommended

Recommended 2021, Accountants & Tax Advisers

Email

Sarah.Farrow@uk.ey.com

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