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Inter firm transfer?
Why?
Why/how did you sell the move? Thinking of potentially making a similar request, also v10 M&A, 4th year.
London associate here, UK qualified. It’s usually much easier to come from the US to the UK than vice versa. Most of the big firms here have US corporate desks, for either US based clients doing European deals and HYB work is all NY law. The teams are made up of partners that worked in the US and came back to Europe, US associates that have transferred and a lot of juniors that went through the US system but are not US citizens and unfortunately could not get visas. The English law society is also more lax than the US state bar associations with practicing in the UK (your signature will just say that you are admitted in NY). I’d imagine the biggest challenge will be selling it to your current partners and there being demand in your practice area in London. I also think US citizens may have to pay tax in the US and UK and understand taxes in the UK are higher than NY, but lower than CA (though cost of living in London is possibly slightly lower than NY). The US associates in my firm all tend to be paid in dollars I think. If you’re paid in £, it varies firm to firm, with some fixing a rate each year (e.g. my firm is £1:$1.30 until Dec 31) and some firms update the rate every pay cheque (e.g K&E).
Awesome, thanks for the info. I’m coming over as a U.S. associate from NYC getting paid in dollars. The tax situation concerns me a bit but I guess I have some time to figure that out.
Do you know what the M&A deal flow looks like?
Mentor
Are you going to be a local hire (paid in pounds)? Will you get tax support?
Mentor
You'll need to file UK and US taxes. There's a tax treaty so you don't pay double tax, but it's a pain. Ask about this.
Mentor
Curious why the move?
You should expect vacation time you’re supposed to use.