Linus Ostberg will build and lead team that will advise high-net-worth clients on increasingly complex and changing US tax obligations
Global business advisory firm KPMG UK is launching a new tax practice in London to support US expatriates in the UK and across Europe as the potential for US tax reform accelerates.
The KPMG team will be led by Linus Ostberg, who joins as director of the US tax practice of KPMG UK’s Family Office & Private Client team. Before joining KPMG, Linus was a director at Moore Global US Tax Services, following several years as a senior tax manager at Deloitte US working in both the UK and the US.
The new practice, which KPMG plans to scale up rapidly in the next year, will focus on advising high-net-worth and ultra-high-net-worth individuals and families with US tax obligations.
“President Biden is introducing significant changes to the US tax system, so there has never been a greater need for tax guidance for the UK’s American community,” said Greg Limb, KPMG UK partner and global head of KPMG’s Family Office & Private Client practice. “Establishing a dedicated practice in London has become critical to meeting the demand from American citizens who need to ensure they comply with the ever-changing tax laws.”
With London as the epicenter for US citizens in Europe thanks to the language, cultural overlap and its position as a global financial services hub, the number of US citizens living in London and the UK, combined with the number of ‘accidental Americans’, (foreign nationals who were born on US soil) who must file a tax return in the US, is sharply increasing.
Limb added: “We’re capitalising on a growing market demand that will likely pick up additional steam as the US presses forward on reforming its tax code. Adding a specialist US tax practice in London is both a logical and a strategic step for our firm.”
KPMG UK will look to expand this new team quickly given the rising demand. The UK firm will leverage its already market-leading private client team and its access to an array of financial experts throughout KPMG’s global network.
Linus Ostberg said: “This is the right move at the right time for our firm. We’re going to actively recruit over the next year to quickly scale the team and further bolster the suite of services that we offer to our clients.”