In an ever changing world having the right adviser is crucial to meet your tax obligations and where possible mitigate your tax exposure.
We advise a wide range of High and Ultra High Net Worth individuals and families, businessmen, internationally based entrepreneurs, family offices and trustees to enable them to manage their UK tax affairs to meet their personal and business needs.
Non-domiciled individuals (non-doms)
In particular we specialise on advice and planning for non domiciled individuals, and can offer the following services specific to their situation:
- Coming to the UK: Pre-residence tax planning, advice on residence and domicile, immigration to the UK.
- Offshore Trusts: the tax effects on the establishment of offshore trusts; the extraction of funds from Trusts and the implications on winding them up. When required we can also prepare Family Constitutions.
- Longer Term 'non- doms': Claiming the remittance basis of taxation, advice on the taxation of remittances, remitting from mixed funds, cleansing offshore bank accounts pre April 2019, rebasing assets as at April 2017.
- Leaving the UK – both permanently and on a temporary basis, advising capital gains tax and on subsequent visits to the UK.
For all clients irrespective of their domicile we can provide advice on:
- Mobile Executives – the tax implications of employment in a number of jurisdictions and how this affects your UK status.
- Estate Planning – we can advise on how to protect your wealth and benefit your dependants, and the likely inheritance tax on your estate in the UK.
- Family businesses and shareholder directors – advice on the use of Family Investment Companies to protect and encourage family wealth, advice on dividend distributions and share sales. We also advise on the tax aspects of offshore investment holding structures (including trusts and foundations) private equity transactions, share sales, initial public offerings and full listings.
- Real Estate – Our experts will ensure that you structure, acquire, hold and manage your Real Estate in the most advantageous way possible, both from a tax and estate planning perspective.
- Philanthropy – Whether you are looking to make a one off donation, or are considering the establishment of a charitable trust we can help you support the projects you care passionately about.
- Tax Enquiries and Investigations – Our expertise comes into play when there is a grey area in dispute or when an historic tax liability has gone unreported and requires correcting. Our market-leading team of lawyers, accountants and former senior tax inspectors can assist in minimising your tax liability and negotiating penalties. We have particular expertise in settling tax irregularities arising from assets held offshore and the Requirement to Correct. We also advise on using the World-Wide Disclosure Facility and on the Contractual Disclosure Facility, when a prosecution is possible and we want to provide our client with protection.
- Pre-resident tax planning for HNW individual on his relocation to the UK, including the use of offshore trusts to retain offshore investments.
- Advice to UHNW on the cleansing of mixed bank accounts. Calculation of possible liabilities and advice on tax efficient transfers
- Advice to HNW client and trustees on the tax implications of the purchase of UK residential property personally and/or via an offshore family trust. Review of Trust deeds and advising on implications for possible UK resident beneficiary.
- Advice to non dom individual and offshore trustees on tax implications of distributions from various offshore trusts. Use of the World-Wide Disclosure facility to agree liabilities.
- Advice to non domiciled family on the establishment of a Limited Liability Partnership as a means to hold a UK property portfolio and on the income tax, capital gains tax and inheritance tax implications of the investment.
- Advice to UK resident and domiciled businessman on the establishment of a Family Investment Company, its structure, and operation. Advice on resulting income tax, capital gains tax and inheritance tax implications.
- Advice to UK resident and domiciled individual on the gift of land from his parents, principal residence and tax implications on the development of the land, for different family members including a UK Trust.