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      “Don’t expect things to go back to the way they were.”

      These words from Miles Celic, CEO of TheCityUK, set the tone at KPMG’s annual Tax in Financial Services event.

      The occasion brought together the sector’s tax leaders from around the world to discuss the challenges facing the industry.

      Meeting in London in early April 2025, the global economy was adjusting to the new reality being imposed by US trade policy. Amid the unpredictability, we explored:

      • the UK’s future as a global financial service centre
      • the implications of geopolitical uncertainty on trade, growth, tax and regulation
      • the impact of artificial intelligence on tax functions.

      Over the course of the afternoon, attendees also heard from HMRC, and KPMG’s tax experts from the UK, the US, Europe and Asia.

      The event consisted of three plenary sessions:

      robin-walduck
      Robin Walduck

      Partner, FS Tax & Legal

      KPMG in the UK

      The UK’s future as a financial services centre

      • Panellists
        • Miles Celic OBE - Chief Executive Officer, TheCityUK
        • Sharon Baynham – Director of Tax Policy, KPMG
        • Kate Dawson – Director, FS Regulatory Insights Centre, KPMG
        • Heiko Podeyn - Partner, Financial Services Tax, KPMG
      • Key themes
        • The prospects for the UK as a financial services industry location in a climate of prevailing uncertainty.
        • The three key challenges government must address to strengthen its position:
          • Regulation – delivering on the promise to regulate for growth, not risk.
          • Competitiveness – driving the certainty through the Corporate Tax Roadmap, and industrial and trade strategies.
          • Tax – ensuring a competitive tax environment for the sector.
      You can read a summary of the discussion here

      Navigating geopolitical change

      • Panellists
        • Robin Walduck – Global Head of Tax & Legal, Financial Services, KPMG UK
        • Yael Selfin – Chief Economist, KPMG UK
        • Alistair Pepper – Managing Director, KPMG US
        • Raluca Enache – Head of KPMG’s EU Tax Centre
        • Angela Savin – Partner, KPMG Law
      • Key themes
        • The effects of US trade policy on the global, European and UK economies.
        • How the UK and European Union might respond to tariffs.
        • The potential impact of retaliatory measures.
      You can read a summary of the discussion here

      Future tax policy and the role of AI

      • Panellists
        • Jonathan Athow – Director General, Customer Strategy & Tax Design, HMRC
        • Stuart Tait – Chief Technology Officer, Tax & Legal, KPMG UK
        • Matthew Pearson – Director, FS Transformation & Technology, KPMG UK
        • Matthew Fenwick – Partner, Tax, KPMG China
      • Key themes
        • An update on AI adoption at HMRC.
        • The impact of AI on corporate tax functions – now and in the future.
        • What this means for tax leaders and teams?
      You can read a summary of the discussion here

      Our tax insights

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