Leaders List interview: 60 seconds with Marilyn McKeever, Broadfield Law

Date: 10 Jul 2024

Ashleigh John

This week’s 60-second piece is dedicated to Marilyn McKeever, Partner at Broadfield Law UK.

Tell Citywealth readers a bit about your role.

Which role would that be? The day job is partner in the Private Wealth team at Broadfield Law where I specialise in international trusts, tax and estate planning, especially for clients with a US connection. As well as enabling clients to achieve their estate planning goals in a tax efficient way, I help to train and mentor the next gen lawyers and keep the team up to date with technical and practical developments in our field. As a judge of the First Tier Tax Tribunal, I see the tax world through the other end of the telescope, deciding disputes between HMRC and taxpayers, individual and corporate. My cases are rarely about the areas of law I deal with in the day job, but they give me a wider perspective on the law and an insight into how tax works at the sharp end. My third hat is as a member of the Law Society’s Tax Law Committee which involves engaging with HMRC and the Treasury on new tax proposals. I have been involved with the development of the Statutory Residence Test and the last round of non-dom reforms in 2017, among other things. Although policy is determined by the government, we have the opportunity to influence how that policy is implemented so that it achieves the government’s aims in a way which is workable and practical. I enjoy all my roles and the skills and knowledge I acquire in each contributes to the others, enabling me (I hope!) to perform better in all of them.

What does a typical day look like for you?

There is no such thing! Having said that, I like to start early, whether I am working at home or in the office, so that I can clear the admin and focus on my priorities for the day without being distracted. Client work might involve physical or Zoom meetings, drafting documents or advice notes, research, briefing colleagues and reviewing their work and using it as a training opportunity. There are, inevitably, meetings of various sorts and I like to spend some time keeping up to date with the latest developments. Whatever I have planned for the day will be derailed by something new/urgent/unexpected, so it is important to set priorities and make sure the important things get done.

Tell us about some recent, interesting client instructions you have received.

These are obviously confidential, but in the light of the proposals to replace the current non-dome regime, many clients want to know how they might be affected and what they should do. Many clients want advice on becoming non-resident.

What challenges do your clients face and how are you helping your clients to overcome them?

See above! At the time of writing, we do not know how the proposals will be implemented, whether there will be any grandfathering, what the detailed rules will be and how those who leave the country will be affected. Clients are understandably concerned but it is impossible to create definitive plans in the light of the uncertainty. At this stage, we are reviewing clients’ personal positions and that of their structures and considering how they might be affected in the best and worst case scenarios. Every client reacts differently; some are prepared to take the tax hit, some want to leave within the tax year and others are adopting a policy of masterly inactivity until the dust has settled and we can plan properly. My job is to help clients keep things in perspective, keep them informed and help them implement their decision when they make it.

What is your proudest professional achievement?

I acted for the trustees of a substantial estate which had been left to a children’s hospital in Israel. The money was to be used to fund a heart unit treating both Israeli and Palestinian children. As the entity was not a UK body, HMRC refused charitable status and charged inheritance tax on the estate. The matter had passed through several firms, none of which found a solution. Then it landed on my desk. An arcane rule from my university equity course flashed into my mind: you cannot make a gift to a building (the hospital). It takes effect as a gift for the purposes of the hospital, which is an English charity. We applied to the Charity Commission for a scheme establishing the administrative framework for the charity, which they did, and HMRC had to concede and refunded the inheritance tax. I was very proud of having been instrumental in providing an additional million pounds for such a worthwhile humanitarian cause.

What do you consider to be the most important attributes for a leader?

I believe it is important to lead by example, to encourage people to think for themselves and to allow them the space and opportunity to develop and grow in confidence. At the same time, you need to manage risk by creating a framework, setting boundaries and providing guidance so that growth happens in a supportive environment with clear expectations.

Who do you most admire and why?

Hard choice, but it has to be Lord Denning. He was an unassuming person, but had a razor-sharp intellect, a gift for communication, an instinct for justice and the status to achieve it.

Where was the last place you travelled to for work or pleasure?

Budapest for both. I was participating in the Business Law Forum organised by the Union Internationale des Avocats. This was a wonderful gathering to discuss how different jurisdictions dealt with multiple aspects of family businesses from succession to tax to the divorce of a business owner. After the conference, I took some time to explore this beautiful city and sample as much of its fabulous cuisine as I could!

If you weren’t in this industry, what else might you be doing?

I love words and passing on knowledge. I did consider journalism in my youth, but would probably have ended up as a teacher or lecturer.

How do you relax after a long day?

I like to set myself up for a long day by weight training in the gym – a guaranteed stress-buster. At the end of the day, I like to read or listen to the radio or, if it’s not a school night, be plied with a glass of good wine or a gin and tonic by my partner.

You can view Marilyn’s profile on the Citywealth Leaders List