Michał Thedy

Managing Partner
Licensed Tax Advisor (license no. 09379).

Michał’s areas of expertise include:


  • due diligence and vendor due diligence projects
  • tax structuring of transactions
  • tax reviews of financial models
  • mergers, demerges and transformations of companies
  • refinancing
  • ongoing tax advisory services
  • implementation of tax-efficient investment and financing structures



From 1996 to 2015, Michał worked in the tax departments of Arthur Andersen and Ernst & 


In Ernst & Young, Michał held the position of the Transaction Tax Department Director. He 

specialized in tax support for transactions and restructurings. He provided advisory services for the biggest Polish and foreign firms as well as Private Equity funds.

He was also responsible for the tax advisory services for the real estate market in Poland and  Central and Eastern Europe. He worked for the key real estate funds and developers on the market.

From 2009 to 2011, Michał was in charge of the Tax Department of Ernst & Young regional office in Poznań and in this role he was focused on developing tax advisory services for firms and entrepreneurs in the Greater Poland region.

Michał has co-authored the book ”Taxation in the Real Estate Market” and numerous articles and commentaries on tax law issues.  

Michał graduated from the Faculty of Law and the Faculty of Social Sciences of the University of Wrocław.

He is fluent in English.

He is married and has two children.


Lesław Mazur

Licensed Tax Advisor (license no. 11267).

Lesław started his adventure with tax advisory services in Ernst & Young and continued it there for over 10 years.

As a Tax Advisor, Lesław represents Clients in proceedings before the Polish tax authorities, the National Revenue Administration authorities, enforcement authorities, administrative courts, the Supreme Audit Office, the European Commission and the Court of Justice of the European Union.

As a Legal Counsel, Lesław provides support to Clients particularly in cases related to state aid, penal-fiscal liability and in proceedings before common courts and the Constitutional Tribunal. As a result of proceedings in significant tax cases, which he has led for Polish entities as well as recognized multinational corporations, Lesław has successfully contributed to revoking incorrect tax decisions and to returns of unduly paid taxes. Lesław has his own strategy of leading legal proceedings which ensures his high effectiveness and is the reason why Clients hold him in high regard. The strategy involves a thorough knowledge of the facts and use of the most simple legal argumentation – the importance of which is often belittled today.

Lesław has been the author of numerous tax commentaries and opinions published in Polish newspapers. He has also co-authored the book “Polish Tax Law versus European Tax Law. The Catalogue of Discrepancies”, edited by Professor Bogumił Brzeziński (Wolters Kluwer 2015).

He graduated from the Law & Administration Faculty of the Jagiellonian University and from the Economy Faculty of the University of Economics in Krakow.

He is fluent in English, German and French.

Lesław is passionate about travels, strategy games and architecture.


Adam Allen

Licensed Tax Advisor (license no. 10871).

Adam is an expert in two major areas: state aid for companies, including both cash grants and tax incentives to support companies’ growth, and income tax, including corporate and personal income taxation.

Adam’s expertise in state aid is related in particular with tax benefits in Special Economic Zones (SEZs) in Poland (at present: Polish Investment Zone). Adam has been engaged in applying for, amending and settling of over 80 permits in all SEZs in Poland. In addition, Adam has delivered ongoing tax advisory services to dozens of companies operating in all SEZs in Poland. Adam also has extensive experience in securing grants from domestic and EU sources which support companies’ growth – he has been engaged in securing grants of PLN 300 million.

His expertise in the field of income tax includes:

  • dozens of corporate income tax audits completed with a successful implementation of their findings
  • several hundred personal income tax settlements completed with correct tax return filings
  • review or preparation of dozens of transfer pricing documentations
  • dozens of successful applications for individual tax rulings 
  • several hundred pieces of advice and recommendations on income tax saving solutions.

He worked in the tax advisory department of Ernst & Young between 2003 and 2015, and between 2012 and 2015 held the position of Senior Manager. He was a member of the EY Grants and Incentives Team, responsible for a full range of consulting services for companies operating in SEZs in Poland. Between 2003 and 2012 he was also a member of the EY Human Capital Team responsible for tax advisory services to individuals.

Adam was part of the team who prepared the book “Support for Companies from EU Sources” in 2005. He is also the co-author of a guide book about SEZs in Poland: “Legal and Tax Aspects of Running Businesses in Special Economic Zones in Poland” (2010). Adam was directly engaged in the process of extending the existence of SEZs in Poland until 2026. Adam runs training sessions and workshops related to state aid and speaks at conferences on taxes and state aid.

He graduated in Economics from the University of Opole and took post graduate studies in Project Management of EU Funding Projects with the Warsaw School of Economics.

He is fluent in English.

Adam is married and has two children. His personal interests include both ancient and modern history as well as Montessori education.


Andrzej Kapczuk

Licensed Tax Advisor (license no. 10307).

Andrzej has been involved in tax advisory services for 20 years. He is a licensed tax advisor and specializes in Value Added Tax (VAT). He is in charge of the Indirect Taxes Team in Thedy & Partners.

His experience covers strategic and day-to-day tax advisory services, running tax proceedings (including representation of taxpayers before Supreme Administrative Court and district administrative courts), designing tax functions in ERP systems, due diligence projects and tax risk management. 

Andrzej has started his professional career in Arthur Andersen. Between 2002 and 2015 he worked at Ernst &Young where he was involved in advisory services for the biggest international companies and many Polish entities, mainly in the FMCG, Transportation & Logistics, Hotel & Restaurant & Catering (HoReCa) sectors. He was also the leader of a team dedicated to supporting the Public Sector, including support to local government units (mainly municipalities) and central administration.

Andrzej has written over 100 articles and commentaries for the Polish specialised press. His interviews on VAT taxation have been broadcasted on television and radio. He is a co-author of the first Polish commentary on the 6th VAT Directive (C.H.Beck, 2003) and the commentary on the VAT Directive 2006/112 (Wolters Kluwer, 2008). He worked as an expert for the first comprehensive study comparing national and EU VAT regulations (VAT Directive. Polish perspective; Wolters Kluwer, 2012).

He has acted as the director of international conferences dedicated to VAT taxation. He has been the VAT lecturer at congresses, seminars and training sessions. He has been involved in legislative processes related to amendments to the VAT regulations.

In 2010-2018 Andrzej was the Board Member of the Masovian Branch of KIDP (National Chamber of Tax Advisers). In 2014-2018 he was the Vice-President of this Board. 

In the past years Andrzej has been recognised in the best Polish tax advisors rankings several times. He has been considered the 3rd best VAT specialist (‘Dziennik Gazeta Prawna’ Ranking 2018) and honoured / recommended in the same category in 2018 and 2020 (‘Rzeczpospolita’ Rankings).

He graduated from the Warsaw School of Economics (SGH). He also studied at the École Supérieure de Commerce (Rennes, France) and at the French Institute of Management (IFG) in Warsaw.

He is fluent in English.

Andrzej is married and has two sons. His passions include travelling, topography, architecture, astronomy and astrophysics.


Łukasz Kupryjańczyk

Licensed Tax Advisor (license no.: 11329).

Łukasz is mostly engaged in Mergers & Acquisitions (M&A) and transaction advisory projects. He advises many Polish and foreign businesses in the real estate, manufacturing and retail sectors on an ongoing basis.

He has an extensive knowledge of transactions and restructuring processes. He has participated in hundreds of tax due diligence projects and dozens of stand-alone asset and business deals. Łukasz has represented many clients on the seller side in Vendor Due Diligence projects. He has also assisted clients in tax-efficient structuring of disinvestments.

Łukasz has created, co-created or coordinated set-ups of many multinational tax structures and acquisition structures for significant strategic investors, investment banks and Private Equity Funds. He has participated in a number of the most prestigious acquisition processes taking place in Poland.

In his career, Łukasz has been responsible for a range of:

  • post-transaction integration processes
  • reorganisations such as: mergers, spin-offs, contributions in-kind, etc.
  • tax reviews
  • structuring of financing and refinancing

Łukasz gained his professional experience while working in one of the top consulting companies in Poland for many years.

He ran the F6 course on taxation as the ACCA tutor and is currently in the process of completing of his own ACCA Qualification.

He is the author and co-author of dozens of tax-related publications and articles and the speaker at numerous tax training sessions.

In recent years, he has been recognised in rankings of the Best Tax Advisers in the following areas: Income Tax (XI Ranking of Tax Advisory Firms of Rzeczpospolita, 2016; XII Ranking of Dziennik Gazeta Prawna, 2017), Transaction Consulting (XII Ranking of Tax Advisory Firms of Rzeczpospolita, 2017; XIII Ranking of Tax Advisory Firms of Rzeczpospolita, 2018).

He graduated from the Faculty of Finance and Banking and Faculty of Management and Marketing at the Warsaw School of Economics.

Łukasz is fluent in English.

He is married and has three daughters and a son. 


Michał Nielepkowicz

Licensed Tax Advisor (license no. 11491).

Michał provides comprehensive tax advisory services on local taxes and charges (in particular, real estate tax) and supports Clients in their relations with tax authorities, including representation before administrative courts.

He is the Expert on the Local Taxes Team of the Minister of Finance’s Tax Law Advisory Council.

He also lectures on tax law at Nicolaus Copernicus University in Toruń (Faculty of Law and Administration). He has authored numerous publications on real estate tax, tax proceedings and court litigation issues.

Michał has extensive experience in advising on real estate tax and in court proceedings for the largest Polish and foreign entrepreneurs. Between 2006 and 2014 he worked at Ernst &Young. He was the creator and head of the EY Real Estate Tax Team (at Senior Manager level) which provided services to the top companies in Poland. In 2015, he started his own Nielepkowicz & Partners law firm. It specialised in comprehensive support related to real estate tax and court proceedings. In 2017, his law firm merged with Thedy & Partners.

In the past six years, Michał has been recognised in the best tax advisor rankings 13 times. He has been considered the best real estate specialist 5 times (Rzeczpospolita Rankings of 2018, 2017, 2016, 2015, and 2014) and honoured in the same category in 2019. He has also been considered the best tax advisor on local taxes and charges (Dziennik Gazeta Prawna Ranking 2014) and honored in the same category and in court proceedings 6 times (Dziennik Gazeta Prawna Rankings of 2013, 2016, 2017, 2018, and 2019).

He graduated in Law at the University of Łódź.

Michał  is fluent in English.

Michał’s interests include new technologies, films, sports and travel.


Michał Parafiniuk


Michał commenced his career in 2001 in audit departments of Big4 companies (Arthur Andersen and EY). Next he worked in advisory in Andersen Business Consulting (currently Deloitte Consulting) in Finance Solutions Department. Next 7 years Michał spent in Budimex (leading Polish construction group), starting in Controlling Department and next developing Strategic Analyses Office, covering investors’ relations as well as business development, including acquisitions. He returned to Budimex Group taking position of CFO in one of its subsidiaries operating in waste management and roads and building management business. In this role Michał was responsible for a number acquisition processes and post-acquisition integrations of four entities. Next important experience Michał gained in the roles of Finance Director of CTL Logistics (largest private Polish train logistics operator) and in SMYK Poland (retail and e-commerce children apparel and toys), both owned by private equity fund – Bridgepoint.

Michał graduated from Warsaw School of Economics (MSc.), Finance and Banking Faculty and from post graduate Global Management Program organized by Esade Business School. Michał is CFA® chartholder as well completed the ACCA® program.

He is fluent in English.


Employees & Contractors


Aleksandra Czajkowska

Office Manager, Management Assistant

Ilona Brodowska

Office Manager, Management Assistant

Marta Kuczyńska

Head of Administration

Dorota Bruderek

Office Assistant

Cyprian Werykowski


Piotr Kalemba


Grzegorz Arczewski

Senior Manager

Łukasz Łebski

Senior Manager

Marek Kończak

Senior Manager

Marcin Socha


Maria Zalewska


Szymon Kołodziejczyk


Łukasz Woźniak


Marcin Gawroński


Aleksandra Tomczuk


Michał Wolański


Adrian Celiński

Project Manager

Kamila Grabowska-Klimczak

Business Incentives Expert

Anna Konieczna-Nowak

Senior Consultant

Justyna Chylińska

Senior Consultant

Cezary Madeka

Senior Consultant

Jakub Matla

Senior Analyst

Agata Faliszewska

Senior Consultant

Paweł Wyporski

Senior Consultant

Natalia Orzechowska


Patrycja Krzymińska

Senior Consultant

Natalia Zborowska


Aleksandra Kodłubaj


Tomasz Boryca


Michał Nawrot


Anna Rejman


Adam Rzepa




in Warsaw:

ul. Moniuszki 1A
00-014 Warszawa
+48 (22) 629 09 17

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Branch office
in Katowice:

ul. Dworcowa 4 (Old Railway Station)
40-012 Katowice
+48 508 018 322

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Thedy & Partners sp. z o.o.
Tax advisory services
KRS: 570600
NIP: 113-289-37-45
REGON: 362235613
Capital: 150.000 PLN

T&P Finance sp. z o.o.
KRS: 957685
NIP: 522-322-04-16
REGON: 521400905
Capital: 6.000 PLN