Expertise
- Preparation of trust accounts, trust tax returns, beneficiaries tax certificates and general trust compliance for UK and non-UK resident Trusts.
- Inheritance tax and capital gains tax advisory and planning work for UK and non-UK resident Trusts and individuals.
- Inheritance Tax compliance including preparation of IHT returns and calculations for ten yearly charges, exit charges and lifetime transfers.
- Advising trustees, settlors and beneficiaries of reporting requirements under FATCA, CRS and Trust Registration, and the Automatic Exchange of Information (AEOI) agreements entered into by the UK.
- Dealing with and negotiating tax penalties issues.
- Preparation of personal tax computations and returns for trust beneficiaries and for individuals.
- Corporate tax compliance for non-resident companies with investments in UK property. Advising and reporting on the taxation of rental income and chargeable gains.
Career History
Shafaq completed an MBA program in 2009 at Brunel University and shortly after started working for PwC acting, mainly, for its Trust clients. This led to study of the Society of Trust & Estate Practitioners (STEP) Diploma in Trust and Estates and subsequent full membership of STEP. With a few years of Trust advisory experience with PwC, Shafaq joined Deloitte in 2013 in order to develop her Trust Compliance skills.
Shafaq joined Wedlake Bell LLP’s Private Client Team in 2016 working closely with its Onshore Team and after the successful completion of the STEP Advanced Certificate in UK Tax for International Clients in 2018, she now also works with our Offshore Team, advising Offshore Trustees on income, capital gains and inheritance taxes. She also advises on FATCA and CRS relevance and application to the Offshore Trustees.
Shafaq is currently studying for the Chartered Tax Adviser (CTA) qualification.