Tom Neill, Tax Director at KPMG in Bermuda’s Tax Team, will walk through some common issues facing Bermudian Trusts with settlors or beneficiaries who are U.S. taxpayers. Tom will also look briefly at the proposed U.S. tax law changes and the impact they could have on trust beneficiaries.
Director, Tax - KPMG
Tom is a U.S. personal tax advisor who specialises in assisting American Expats and non-Americans with ties to the U.S. Having relocated from London to Bermuda with his family in 2019, Tom has over seventeen years of experience in U.S. and U.K. taxation. He can add particular value to people with a tax footprint in both jurisdictions, advising on the domestic U.K. and U.S. rules, and the interaction between the two. Tom has worked with individuals across a wide variety of sectors, with a current focus on the insurance and reinsurance industry, advising companies and their employees in relation to their U.S. tax obligations. Tom provides pragmatic, practical guidance to people with complex cross-border tax affairs, helping people to plan effectively for tax purposes and stay ahead of their compliance obligations. He adds further value to businesses by ensuring their assignees’ tax affairs are well-managed, freeing up their employees to focus on the needs of their business.
For seventeen years, Tom has helped companies and their senior executives to manage their annual tax compliance obligations. Tom assists both Americans and non-Americans with investments in the U.S., in managing their income tax and Estate and Gift Tax exposures.
Tom works with trustees, settlors and beneficiaries of non-US trusts, in navigating the complex and sometimes penal U.S. tax regime for foreign trusts, ensuring compliance requirements are met and appropriate tax planning is undertaken. Tom also guides local employers on their U.S. and UK withholding and reporting obligations when employees travel outside Bermuda.