Helping entrepreneurs build great businesses

The interests of today’s large privately owned companies, family businesses and UHNWIs are truly international. And the opportunities that present themselves are global in nature as well. It requires the experience of leading professionals such as KPMG, a global organization of professional services firms operating in 145 countries and territories. All are attuned to the characteristics and requirements of this special class of entrepreneurs and investors as well as the different regulatory rules and requirements, tax implications, and social or environmental considerations in their countries.

The two pillars of the global Private Enterprise business and global organization are the KPMG Private Enterprise Family Business Center of Excellence and KPMG Private Enterprise Tax.

KPMG professionals understand the passion that drives entrepreneurs and share that entrepreneurial mindset and what it takes to be successful at every stage – from growth to international expansion. Whether they are international business owners, executives, family offices, entrepreneurs, closely held businesses, private equity funds or publicly-traded family-controlled companies, KPMG professionals understand their unique characteristics and needs. They know how to help plan for and handle their sensitive personal, business, tax, family and philanthropic concerns.

Supporting private enterprises as engines of economic growth

KPMG firms recognize that privately owned companies have been the engines of innovation and economic growth in most countries for decades. And view that private businesses can, in fact, contribute to greater economic stability if their potential impact is acknowledged and they are supported in a tangible and targeted way.

KPMG Private Enterprise tax professionals believe they have a role to play in this process by helping governments understand and recognize the extraordinary social and economic impact of privately owned businesses.

For example, they recognize that the OECD’s Pillar 1 and Pillar 2 international tax reforms are intended to help multinational companies more than domestic private businesses operating in one country. However, privately owned companies that have multinational customers may also be affected indirectly, and some restructuring may be required for these companies to improve their circumstances.

Facilitating the introduction of a streamlined UK tax regime for Qualifying Asset Holding Companies

The launch of the QAHC regime is an exciting development and creates significant opportunities for institutional investors and eligible funds to locate asset holding vehicles in the UK.

During a recent webcast, KPMG Private Enterprise tax professionals from the U.S. and the U.K. shared their insights and answers to questions regarding the type of investors and strategies that might consider the new UK QAHC rules and the practical considerations that investors and asset managers should be aware of.

KPMG professionals are also closely monitoring broader UK fund developments relevant to institutional investors and alternative fund managers.

Addressing the needs and characteristics of family businesses

KPMG professionals understand that the nature of a family business is inherently different from non-family businesses and requires an approach that considers the family component. Issues of tax, family governance, succession planning and emerging ESG concerns and responsibilities all need to be addressed.

It is also important to facilitate the development and measurement of major ESG strategies for large, multi- generational family businesses across the UK, as well as providing tax and legal restructuring support to family offices.

Supporting the next generation of emerging giants

The UK is rapidly building a global reputation as home to some of the world’s most exciting, fast- growth, innovative businesses.

KPMG professionals understand that as these businesses grow, they require support on a wide range of issues such as early-stage funding and tax incentives. As startups scaleup their businesses, the KPMG Private Enterprise Emerging Giants team helps them meet their ambitions by introducing them to a group of trusted investors and accelerator programs, including coaching and mentorship through:

• The Global Scale-Up Programme at The Growth Company
• Nexus at The University of Leeds

Praised by his clients and peers for the quality of his personal and business skills, Tom is often called upon to address the issues faced by family businesses, family offices and other private companies at leading international conferences, seminars and webinars.

As a former Inspector of Taxes with over 30 years of experience, he is one of the world’s pre-eminent practitioners in his field. As part of his role, Tom and his team help clients identify and address aspects of business and family governance, regulatory compliance, ESG strategies and measurement, and strive to ensure that processes and controls are in place to address their aspects of business and regulatory risk.

“I have the privilege of working with a global team of professionals with expertise and experience across the spectrum of family businesses and other private companies. Together, the team can help you identify and handle aspects of your business, including:

• Business and personal tax planning
• Wealth management strategies
• Tax and legal restructuring support
• Transfer pricing
• Business financing
• Potential strategic alliances
• Accessing R&D incentives
• Regulatory compliance
• Risk mitigation and management
• Business and family governance
• ESG strategies and measurement
• Digital transformation

“While each family business is unique, KPMG professionals’ experience has allowed them to identify key factors that help family-owned companies grow their business in the UK as well as internationally. As an international inward investor to the UK, KPMG firms can provide you, your family and your business with a scale of global experience.”

For more information contact Tom McGinness.

For more information about KPMG Private Enterprise and KPMG Family Business services, click here.

For further advice and assistance please contact:

KPMG Private Enterprise
15 Canada Square
Canary Wharf
London
E14 5LG
Tel: + 44 (0)20 7311 1000
Contact: Tom McGinness
Email: tom.mcginness@kpmg.co.uk
Website: www.kpmg/privateenterprise