Neil Winward Company Guru

Neil is the CEO of Sevara Capital Advisors. He is passionate about solving tax, accounting and regulatory problems for institutions that have invested billions of dollars of capital in multiple jurisdictions. His company provides solutions for banks, insurance companies and hedge funds to tackle their problems related to tax returns, financial statements, accounting and internal finance matters. Neil holds a master’s degree in Law from the University of Cambridge. 

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Latest Tax Reform Proposal

Having described the taxonomy of the US Tax Code in the last article, it is worth taking a look at two of the most discussed areas of the Code: Partnerships (Subchapter K) and Corporations (Subchapter C).

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FinTech & Regulation

The promise of Fintech is to improve financial services by the use of technology. Technology has been a key focus for decades in the financial services industry. Unfortunately, this technology has primarily benefited the industry itself rather than its customers. The cost of financial intermediation has been remarkably steady for 140 years.

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US Taxation Reform: A Gordian Knot

The Trump Administration has finally released a more detailed version of proposed tax legislation. It is detailed enough for the lobbying process to begin in earnest. The goal of the next few articles in this series is to focus on the distinct parts of the US Tax Code and explain their relevance to the everyday concerns of business. It is easy to get lost; easy to outsource understanding to a paid cadre of experts whose living depends on first obfuscating and then explaining by the billable hour.

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Hedge Funds & Taxation

Hedge funds are associated with some of the wealthiest people in the world. Names such as Steve Cohen, George Soros, Paul Tudor Jones, Carl Icahn bring to mind images of wealth – both managers and investors – that are beyond the imagination of 99% of the world’s population.

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Taxation & Cryptocurrencies

According to a growing number of investors, cryptocurrencies are not only the future of money, but also attractive profitable investment assets, though highly risky and volatile. As of today, the market capitalisation for Bitcoin has increased tremendously, from around $7.16 billion in May 2016 to $27.9 billion in September 2017.

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How US Tax Policy Funds the US Debt Burden ?

Tax policy is fascinating – really. According to the Tax Policy Center, 45.3% of the US adult population pays no income tax, despite touching most people’s lives. As discussed in this article, the rules are complex because they need to cover the many ways in which people and corporations act in the pursuit of profit and even philanthropy. 

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The US Partnership Taxation Issue

Taxation is obscure. Partnership taxation is really obscure. 70% of partnership income accrues to the top 1% of taxpayers, but over 50% of all business income is earned through partnerships (or other pass-through entities). It is fair to say its revenue impact is disproportionate to its relevance in an existential sense.

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The Carried Interest Loophole

The Treasury Secretary, Steve Mnuchin, has delivered some incoherent messages about tax reform. It appears he has not yet understood that tax policy will be driven by the President working with his new Democratic friends Nancy Pelosi and Chuck Schumer. One of the tax beasts to be slain is carried interest, the pernicious mechanism by which $20bn of wealth annually is delivered to the 1% with careless regard for the suffering of the middle class. President Trump has promised to fix this. In this, he is not alone. Carried interest has been in the crosshairs for over ten years. Even the 1% broadly agree that it is without merit. But why is it still around?

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