Tax Strategy for the United Kingdom


This page sets out Evercore’s approach and strategy for handling its tax affairs and managing the tax risks of its UK group for the year ending 31 December 2017. This page is intended to comply with section 161 and paragraphs 19 and 20 of Schedule 19 of the Finance Act. It applies to all UK entities and all UK taxes.

This strategy applies from the date of publication and will be reviewed annually and updated accordingly.


Evercore is a global independent investment banking advisory firm dedicated to the highest calibre of professionalism. At Evercore, we attach great importance and commitment to our core values, which include integrity, excellence and respect. Evercore’s UK group is majority owned by Evercore Inc., a US publicly traded company listed on the New York Stock Exchange. The UK group’s tax strategy is based on policies, procedures and controls that are compliant with all applicable UK tax legislation. We seek to ensure that we pay the appropriate amount of UK tax, and that UK tax returns and payments are accurate and made on time.

Risk management and governance arrangements

Day-to-day management and implementation of our tax strategy is delegated by the senior management of Evercore to our internal tax team. The UK group assesses, mitigates and manages risks, which is vital to our business strategy and includes tax risks. The senior management of Evercore provides leadership and oversight, in respect to all business strategies, including tax.

Our internal finance and tax teams have established processes compliant with SOX, FCA, and HMRC tax requirements. We have also engaged external advisers for supervisory review of the UK Group’s business risk strategies, as well as to review our internal processes and procedures. Tax risks are mitigated by both our internal and external processes and procedures, to ensure the accuracy of our tax data and tax compliance.

Tax planning

Tax planning is part of Evercore’s overall business decision making process and Evercore does not implement or utilise any tax avoidance strategies. All transactions have an underlying commercial substance and any related tax planning upholds the spirit of the law. In accordance with OECD guidelines, all the intercompany transactions with the UK Group are conducted on arm’s length principles.

Tax appetite

Evercore has a low tolerance towards tax and regulatory compliance risk. Our low risk appetite is set by the senior management of Evercore and is influenced by our reputation as a leading independent investment banking advisory firm, in which context tax or regulatory failings could have a material adverse effect on our reputation and our business. We aim to lower the risk and uncertainty by seeking appropriate external advice and engaging directly with regulatory bodies worldwide, including HMRC.
Our governance framework generally and SOX compliance in particular, operate to ensure compliance with tax laws and regulations, both in the UK and worldwide. This also ensures that we identify and mitigate tax risks effectively.

Working with HMRC

We are committed to being compliant with all statutory obligations, filing requirements and/or tax disclosures with tax authorities, including HMRC. Our relationship with HMRC is guided by our core values and high standards of business conduct. We work collaboratively wherever possible with HMRC to resolve disputes and obtain certainty in relation to tax risk, the tax treatment of proposed business transactions and the interpretation of tax law.


**This page was published to on December 29, 2017