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World TP Reviews

Transfer pricing
Alvarez & Marsal

Alvarez & Marsal is the UK branch of global tax network Taxand. Through this it has a network that reaches more than 50 countries worldwide.

A recent matter the team worked on saw it acting for a multinational payment processing group in relation to a major taxable income adjustment due to an error in where profits were booked. Another matter saw it developing a bilateral APA between the UK and Japan for an electronics group.

One notable departure from the transfer pricing team this year was managing director Tom McFarlane. He left to take up a role as EMEA head of transfer pricing and supply chain at Hogan Lovells.

Baker McKenzie

The transfer pricing and valuations team at Baker McKenzie consists of four partners - Richard Fletcher, Steve Labrum, Nigel Dolman & Jukka Karjalainen – and eight economists, which the firm itself claims is the largest dedicated transfer pricing team in London.

Some of its recent work has seen it acting for on the multi-billion dollar tax affairs of a multinational technology company, as well as developing a tool to address thin cap and interest restriction rules for another client.

Client feedback

“Very high technical standard. Baker McKenzie are of a higher technical standard than others we have worked with.”

“Excellent – highly technical team members who operate in a practical way. Great client service, responsiveness, and anticipation of client needs.”

DLA Piper

The international transfer pricing practice of global law firm DLA Piper is led out of its London office. It was established in 2015 and continues to grow apace. It is led by Joel Cooper and Randall Fox, both alumni of major financial institutions. Notably, it was named as the ITR UK Transfer Pricing Team of the Year in 2017.

Recent work highlights include devising a global APA strategy for a major corporation and working on the IP transfer and cost share project for another.

One recent addition to the team saw transfer pricing director Rachit Agarwal coming on board from Baker & McKenzie early in 2017. Fanny Delaunay also joined the team as a transfer pricing associate in the summer of 2017.

EY

The EMEIA Tax Center at EY is organised as a supranational entity covering the entire Europe, Middle East, India and Africa (EMEIA) region, with its Intercompany Effectiveness and operational transfer pricing practice serving clients’ needs across all jurisdictions.

Led by Oslo-based partner Sveinung Baumann-Larsen, it brings together multi-disciplinary experience and resources focused on IT, accounting, and tax from the entire region in its work. This work covers some of the leading global companies in their respective fields and includes those involved in retail and consumer products, energy and pharmaceuticals, to name but a few.

Grant Thornton

The transfer pricing team at international group Grant Thornton has had a strong focus on helping clients understand the BEPS Actions process. The firm’s wider practice includes more than 4,500 practitioners in the in UK alone, with member firms located in more than 100 countries.

Recent work highlights have included seeing the team work with international partners in advising Entertainment One, a multinational media group headquartered in Canada, in relation to the preparation of master and local file reports and the Country-by-Country Report the group needed to submit to Canadian tax authorities. Another example of its work saw it acting for the Croda Group in the preparation of transfer pricing documentation.

Simmons & Simmons

The transfer pricing practice at international law firm Simmons & Simmons is perhaps most noted for its work on the contentious side of TP matters.

An example of its recent work saw it involved in a high-profile dispute for a US client with HMRC regarding the deductibility of interest on intra-group loans. It also recently advised Sumitomo Rubber Industries on the transfer pricing aspects of its acquisition of Sports Direct International’s trademark rights to the Dunlop brand and related sporting goods and licensing businesses.

Perhaps the most notable recent addition to the firm was the arrival of experienced transfer pricing partner Monique van Herksen, who joined the team from EY in March 2018.

Transfer Pricing Solutions

Transfer Pricing Solutions is a boutique transfer pricing business led primarily by director Gareth Green. It carries out work for clients in a wide range of industries.