Catherine Sear
Catherine Sear is a partner in the Tax Department and a member of the Private Investment Funds Group.
She focuses on the tax aspects of private investment fund structuring, including the structuring of carried interest and executive co-investment arrangements as well as tax issues relating to the establishment and operation of fund management businesses. She provides advice to fund managers on the tax aspects of private equity, venture capital, infrastructure, real estate and debt funds, including funds of funds, and has particular experience of the tax issues associated with investment partnerships. In addition, Catherine advises institutional investors on their investments in private funds and advises on tax matters on secondary transactions.
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The recent decision of the First-tier Tribunal (FTT) in BlueCrest Capital Management (UK) LLP v HMRC (29 June 2022) is the first time the UK’s salaried member rules (the Rules) have been considered in the context of an asset management limited liability partnership (LLP). BlueCrest is engaged in providing hedge fund investment management services. In … Continue Reading
The UK has now been in lockdown, on and off, for the best part of a year. With the COVID-19 vaccination programme now in full swing in the UK, and hopefully with light at the end of tunnel, attention has inevitably turned to the question of “how are we going to pay for it all?”. … Continue Reading
UK General Tax Developments HMRC updates guidance on what constitutes “ordinary share capital” Following the decision by the First-tier Tribunal (FTT) in Warshaw V HMRC, reported in our UK tax blog earlier this month, HMRC has updated its guidance on what constitutes “ordinary share capital” for the purposes of most tax provisions using that term. As well as … Continue Reading
Welcome to the January 2019 edition of the UK Tax Round Up. With the political focus continuing to be dominated by Brexit, this month has been reasonably quiet on the UK tax front. There have nevertheless been some noteworthy developments. Please view this month’s issue of the UK Tax Round Up.… Continue Reading
Season’s greetings from Proskauer’s UK tax team and welcome to the December edition of the Tax Round Up. Following the Autumn Budget and draft Finance Bill last month, this month has been comparatively quiet with very few significant announcements. Please view this month’s issue of the UK Tax Round Up.… Continue Reading
Welcome to the November edition of the Proskauer UK Tax Round Up. This month has seen a number of developments, both on the domestic and international tax fronts. We have set out a summary of some of the main points of interest. Please view this month’s issue of the UK Tax Round Up.… Continue Reading
Welcome to the October edition of the Proskauer UK Tax Round Up. It has been a reasonably busy month, with a number of interesting UK cases being reported as well as further clarity from the CJEU in relation to VAT. The Autumn Budget will be presented later today and the Finance Bill 2019 will be … Continue Reading
Welcome to the September edition of the Proskauer UK Tax Round Up. This month has seen a number of interesting tax cases and some clarity on the meaning of ordinary share capital. Please view this month’s issue of the UK Tax Round Up.… Continue Reading
Welcome to the August edition of the Proskauer UK Tax Round Up. Not unexpectedly, August has been a quiet month with just a couple of interesting developments. Please view this month’s issue of the UK Tax Round Up.… Continue Reading
Welcome to the July edition of the Proskauer UK Tax Round Up. It has been a busy month with both the draft Finance Bill 2018-19 being published and various interesting cases being reported. Please view this month’s issue of the UK Tax Round Up.… Continue Reading
Welcome to the May edition of the Proskauer UK Tax Round Up. This month we saw Advocate Generals’ opinions in two European Court VAT cases with UK implications and welcome European Commission State Aid approval for EMI option schemes which had expired. Please view this month’s issue of the UK Tax Round Up.… Continue Reading
Welcome to the June edition of the Proskauer UK Tax Round Up. The last month has been relatively quiet in terms of new announcements and developments. We expect more activity over the next few weeks as the draft Finance (No.3) Bill will be published on 6 July 2018. Please view this month’s issue of the … Continue Reading
Welcome to the March edition of the Proskauer UK Tax Round Up. As promised, the Spring Statement from the Chancellor focused on the economy and public finances without any major tax announcements. However, a few interesting consultation and position papers were published. We have summarised these below along with a handful of other developments since … Continue Reading
Welcome to the February edition of the Proskauer UK Tax Round Up. Although there have been no major developments since our last issue there have been several interesting cases published. Please view this month’s issue of the UK Tax Round Up.… Continue Reading
Welcome to the January 2018 edition of the Proskauer UK Tax Round Up. This month has been fairly quiet from a tax perspective, which provides a welcome respite from the busy end to 2017. Please view this month’s issue of the UK Tax Round Up.… Continue Reading
Welcome to the December 2017 edition of the Proskauer UK Tax Round Up. There have been many announcements and publications this month, largely a result of the Autumn Budget and publication of the Finance (No. 2) Bill 2017-19. Please view this month’s issue of the UK Tax Round Up.… Continue Reading
Welcome to the November 2017 edition of the Proskauer UK Tax Round Up. The past month has seen a major case on interest finalised before the Supreme Court as well as some interesting proposals for the simplifications of the laws on VAT. Please view this month’s issue of the UK Tax Round Up.… Continue Reading
Welcome to the October 2017 edition of the Proskauer UK Tax Round Up. The past month has been a number of interesting case decisions among other developments. Please view this month’s issue of the UK Tax Round Up.… Continue Reading
Welcome to the September 2017 edition of the Proskauer UK Tax Round Up. Since our last edition, the Finance (No 2) Bill has been published and started its passage through the House of Commons, draft legislation for inclusion in next year’s Finance Bill has been published and the date for the first Autumn budget has … Continue Reading
The Upper Tribunal (Tax and Chancery Chamber), the UK’s second level tax appeal court, have just published their judgement in the McQuillan case, which considered whether shares with no right to dividends or any other profits are or are not “ordinary share capital” (OSC) for UK tax purposes. There are a number of UK tax … Continue Reading
Background As mentioned in our July 2017 edition of UK Tax Round Up, the UK has enacted a new corporate criminal offence of failing to prevent the facilitation of tax evasion. The law comes into effect on 30th September 2017, and businesses should ensure that they have considered its impact before then. A risk assessment … Continue Reading
The summer break means that we are still waiting for the new Parliament’s drafts of the Customs, National Insurance Contributions and Finance (No 2) Bills discussed in the July 2017 edition although the timeline for the Finance (No 2) Bill has now been clarified. Please view this month’s issue of the UK Tax Round Up.… Continue Reading
It has been another relatively quiet month from a tax perspective as we continue to wait for the Summer Finance Bill, the first Finance Bill of the new Parliament, to be published. Please view this month’s issue of the UK Tax Round Up.… Continue Reading
This month has been quiet from a tax perspective as a number of significant tax measures planned for inclusion in the first Finance Act 2017 were put on hold until after the general election. We will report on their progress in future editions. Please view this month’s issue of the UK Tax Round Up.… Continue Reading
BlueCrest FTT Decision – Salaried Member Rules and Asset Managers
By Stephen Pevsner, Robert E. Gaut, Catherine Sear and David M. Ward on Posted in In the news, Tax Policy, UK Tax
UK Budget 2021
By Catherine Sear and Richard Miller on Posted in Corporate tax, In the news, UK Budget, UK Tax
UK Tax Round Up
By Catherine Sear, Robert E. Gaut and Stephen Pevsner on Posted in UK Tax
UK Tax Round Up: January 2019
By Catherine Sear, Robert E. Gaut and Stephen Pevsner on Posted in UK Tax
UK Tax Round Up: December 2018
By Catherine Sear, Robert E. Gaut and Stephen Pevsner on Posted in UK Budget, UK Tax
UK Tax Round Up: November 2018
By Catherine Sear, Robert E. Gaut and Stephen Pevsner on Posted in UK Budget, UK Tax
UK Tax Round Up: October 2018
By Catherine Sear, Robert E. Gaut and Stephen Pevsner on Posted in UK Tax
UK Tax Round Up: September 2018
By Catherine Sear, Robert E. Gaut and Stephen Pevsner on Posted in UK Tax
UK Tax Round Up: August 2018
By Catherine Sear, Robert E. Gaut and Stephen Pevsner on Posted in UK Tax
UK Tax Round Up: July 2018
By Catherine Sear, Robert E. Gaut and Stephen Pevsner on Posted in UK Tax
UK Tax Round Up: May 2018
By Catherine Sear, Robert E. Gaut and Stephen Pevsner on Posted in Corporate Taxation, International Taxation, UK Tax
UK Tax Round Up: June 2018
By Catherine Sear, Robert E. Gaut and Stephen Pevsner on Posted in UK Tax
UK Tax Round Up: March 2018
By Catherine Sear, Robert E. Gaut and Stephen Pevsner on Posted in Corporate tax, International Taxation, UK Tax
UK Tax Round Up: February 2018
By Catherine Sear, Robert E. Gaut and Stephen Pevsner on Posted in UK Tax
UK Tax Round Up: January 2018
By Catherine Sear, Robert E. Gaut and Stephen Pevsner on Posted in UK Tax
UK Tax Round Up: December 2017
By Catherine Sear, Robert E. Gaut and Stephen Pevsner on Posted in UK Tax
UK Tax Round Up: November 2017
By Catherine Sear, Robert E. Gaut and Stephen Pevsner on Posted in U.S. Legislation, UK Tax
UK Tax Round Up: October 2017
UK Tax Round Up: September 2017
By Catherine Sear, Robert E. Gaut and Stephen Pevsner on Posted in UK Tax
Zero Dividend Shares are Ordinary Share Capital
By Catherine Sear, Robert E. Gaut and Stephen Pevsner on Posted in UK Tax
Failure to Prevent the Facilitation of Tax Evasion: New United Kingdom Corporate Criminal Offence
By Catherine Sear, Robert E. Gaut and Stephen Pevsner on Posted in Compliance, UK Tax
UK Tax Round Up: August 2017
By Catherine Sear, Robert E. Gaut and Stephen Pevsner on Posted in UK Tax
UK Tax Round Up: July 2017
By Catherine Sear, Robert E. Gaut and Stephen Pevsner on Posted in UK Tax
UK Tax Round Up: June 2017
By Catherine Sear, Robert E. Gaut and Stephen Pevsner on Posted in UK Tax
