Mark Davies - Spear's Magazine

Mark Davies

Mark Davies & Associates

Mark Davies
The Spear’s Indices
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Top Ten Tax Accountants

‘Although it’s quite a big shift, it’s almost like coming home,’ Mark Davies says of the collaboration his firm now has with Andersen Global, which has converted the boutique into a larger operation with access to a network of advisers across 100 locations.

Davies now works with the top accounting brass who survived the collapse of Arthur Andersen in 2002. These private client specialists refused to join the Big Four, and formed Andersen Tax instead, of which Andersen Global is an international co-operative of tax advisers, advising ‘big ticket’ entrepreneurs such as the owners of Amazon and Apple.

‘It’s unusual you find a group of people that are so similar,’ Davies enthuses, adding that
both companies focus on ‘recruiting the best talent’.

But the tax environment has never been more pressurised for HNWs. ‘Governments generally are short of money, and rather than focusing on efficiency and spending they are focusing on collecting tax – there is pressure to pay more,’ Davies explains.

Two decades ago, when he trained in Guernsey, things were different. ‘People would have put into effect structures, trusts and so on, to pay less tax. Now people are more willing to move and to pay tax by changing their residency,’ he says. The change in attitude is driving the world’s wealthy to more favourable jurisdictions, with Portugal, Malta, Italy and Cyprus among the favourite destinations.