Claire Mulhern, a senior manager at SMP Partners, has shared her expert knowledge on tax information exchange at a series of seminars in London and the Isle of Man.

She was invited to speak at a STEP City of London Branch event focused on the Common Reporting Standard (CRS), at the 2015 Automatic Exchange of Information (AEOI) Congress and at a meeting organised by the Chartered Institute of Securities and Investment.

The STEP seminar in London focused on what will be required under CRS, the information standard for the automatic exchange of information developed by the OECD, from the start of 2016. Many jurisdictions, known as ‘Early Adopters’ have agreed to adopt CRS from 1st January, with the first exchanges of information due to take place between these countries from 2017. This presentation also compared the CRS agreement with the Model 1 IGA for FATCA.

The 13th AEOI Congress, at the Millennium Gloucester Hotel in Kensington, also heard from world-class speakers at the forefront of their organisations’ compliance efforts on all aspects of information exchange relating to CRS. Claire was among the experts invited to share detailed insights at what is considered the leading event for tax practitioners seeking expert guidance on compliance with automatic exchange of information initiatives.

Closer to home, Claire addressed a Chartered Institute of Securities and Investment event in Douglas on the impact that FATCA and CRS will have in relation to the Fund Industry. The presentation was also attended by members of the Isle of Man Funds Association.

Claire said: ‘I welcomed the opportunity to be able to address such diverse audiences and explain the latest developments in relation to CRS, FATCA and other important information exchange measures which are on the horizon.

‘With a large number of countries adopting CRS from 1st January, which is now less than a month away, Trust Service Providers and other Financial Institutions need to be prepared and be aware of the impact that CRS will have both on them and their clients.

‘Seminars like those hosted in London and the Isle of Man over the past two months are an excellent platform to update those likely to be affected, and share our reading of how events will unfold in the coming weeks, months and years.’

Claire, a member of the Institution of Taxation, joined SMP Partners after almost 10 years working in the Income Tax Division of Isle of Man Government. She was responsible for coordinating the drafting and publication of the FATCA/UK IGA Guidance notes that were produced jointly between the Isle of Man, Jersey and Guernsey and have been adopted by a number of other jurisdictions. She is also a member of the CRS Working Group, which was established between the Isle of Man Government and industry representatives and designed to work collaboratively in implementing CRS.

With a broad experience of many areas of international taxation and other aspects of information exchange, Claire currently manages the FATCA/CRS implementation project for the SMP Group as well as providing external consultancy services.

If you require any advice preparing for CRS or complying with ongoing FATCA obligations, please contact Claire at claire.mulhern@smppartners.com.