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Sara Stewart
Sara Stewart
Counsel — Tax
Counsel — Tax

Sara Stewart

Sara Stewart

20 Fenchurch Street
24th Floor
London EC3M 3BY
United Kingdom

Sara Stewart

Sara’s practice includes advising on the tax aspects of international and UK corporate and finance transactions, as well as providing structuring and consultancy advice.

Sara spent nine months on secondment to Deutsche Bank AG, London branch, May 2010 to February 2011.

  • TSB Banking Group in relation to its £1.3 billion IPO and listing on the London Stock Exchange

  • Lloyds Banking Group on the sale of Scottish Widows Investment Partnership Group Limited to Aberdeen Asset Management plc

  • One of the world’s largest education companies on the sale of a 50% interest in a company

  • A leading UK public transport provider on its bid to operate a UK rail franchise

  • An insurer in relation to the sale of a portfolio of real estate assets

  • An overseas investment entity on the acquisition of a building in Canary Wharf in the UK for £1.175 billion

  • An Australian listed company on the acquisition of an online clothing retailer

  • A UK Plc on the acquisition of a leading UK provider of distribution services

  • A financial services company in its role as financial advisor to a leading insurance company on its £178 million return of capital

  • A leading private equity firm in relation to the sale and acquisition of corporate entities holding real estate assets

  • The underwriters on a $348 million initial public offering of global depositary receipts on the London Stock Exchange

  • Various managers of pension funds and employers who provide defined benefit pension schemes to their employees in relation to the impact of CJEU judgment in PPG Holdings BV C-26/12 and the subsequent HMRC Business Briefs on the ability of employer’s to deduct input VAT paid on services

  • TSB Banking Group plc on the issue of £385 million fixed/floating rate subordinated tier 2 notes


  • BPP Law School, London, LPC, 2002
  • BPP Law School, London, GDL, 2001
  • University of Cambridge, England, M.A., Modern & Medieval Languages – German & Russian, 2000
  • Admitted to practice as a Solicitor of the Senior Courts of England and Wales
  • Legal 500 UK, Corporate Tax, 2012 – “focused, technically thorough and hardworking”
  • Legal 500: UK, Corporate and Commercial, Corporate Tax, 2017
  • Member: United Kingdom Oil Industry Tax Committee
  • Member: International Fiscal Association, UK branch 
  • German (fluent), Hungarian (fluent) and Russian (working knowledge)
  • “Special Purpose Share Schemes,” Tolley’s Company Secretary’s Review, 11 February 2015
  • “Unpicking the Finance Bill 2015 – blocking B share schemes,” Lexis PSL, 20 January 2015
  • “Company Reorganisations,” Tolley’s Tax Planning, Summer 2014 and Summer 2013
  • “Portfolio Transfers and Solvent Schemes of Arrangement,” A Practitioner’s Guide to the Regulation of Insurance, February 2014
  • “Intra-Group Reorganisations,” Tax Journal, December 2013
  • “UK proposals regarding the taxation of corporate debt and derivative contracts – modernisation or greater uncertainty?,” Butterworths Journal of International Banking and Finance Law, November 2013
  • “Examining HMRC’s GAAR Guidance,” Tax Journal, 26 April 2013