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I lead our work in  issues and tax relating to debt finance. My particular expertise lies in thin capitalisation issues arising in the infrastructure and property sectors, negotiating and agreeing advance thin capitalisation agreements (ATCAs), the taxation of group debt financing, as well as cash-pool and treasury companies. I also have experience of expert witness, dispute resolution, planning and documentation.

I joined the firm in 2006 and have now built up more than 20 years' experience advising on UK and international tax matters, gaining considerable experience working both in the UK and in continental Europe. This has covered a wide range of businesses, from those just starting out on their international expansion to household name groups with a presence in many hundreds of locations. 

I am a regular publisher in tax and transfer pricing journals, and my work has been quoted by the OECD in its recent white paper on transfer pricing documentation. My interests include the public policy aspects of transfer pricing and I have led on a number of Grant Thornton's responses to the OECD's Base Erosion and Profit Shifting project (BEPS). Our contribution here was an important reason for our transfer pricing team winning the UK transfer pricing team of the year in 2012, 2013 and 2014, as well as winning best tax team in a national firm in 2014.

Outside work, I like to spend time with my husband and our two ballet- and football-obsessed daughters. I am also a keen allotment gardener.

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Liz Hughes
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Liz Hughes
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