Jean-Marc Tirard and Simon Gibb predicted to a UK media briefing that a vote for the UK to leave the EU will have little short term effect on private clients. Mr. Tirard noted that “UK law will govern transfer of property in the EU. With tax planning it is the same. Direct taxes (Income, CGT, etc.) are in the hands of the member states.” Mr. Gibb added that the UK and EU would continue to cooperate on tax exchange and with the “UK having been at the forefront of initiatives” it is unlikely that Brexit would change that.