Dan Hyde of Westleton Drake has been extremely busy in the past year, with the non-dom reform a key focus for private clients in the UK’s international community. The ‘seismic shift’ in legislation has created some ‘unique challenges’ to US families, an area in the tax landscape in which the co-founder specialises, advising a wide range of HNW individuals, trusts and beneficiaries. International tax compliance and regulation has been at the top of the political agenda, Hyde says, and the resulting tax literacy has improved the client-adviser collaboration. He notes, however, that at present ‘taxpayers and institutions are lost in an ever growing maze of compliance, FATCA and CRS which is dominating the landscape’. Hyde is a true believer of a ‘relationship first’ approach to his clients, and explains that the ‘technicalities of taxation are no more than a by-product’ of understanding how to help clients achieve their goals. What he enjoys most about his role is making a difference to his clients. He recalls his most memorable experience — helping a widow who had no understanding of the family wealth become ‘a confident family matriarch’. ‘That was especially pleasing,’ he says, ‘to watch someone [go there] from the first meeting where they sat down in tears, saying, “I’m broken”.’ Away from work, the adviser spends time with his two young children who ‘take up almost every minute of time outside the office’.
020 3141 2701