We are well renowned for our skills in taxation matters, both onshore and offshore.
As a boutique City of London firm specialising in the fields of domestic and international tax and estate planning, we have a notable depth of knowledge which is often not found in many larger firms. We have a global reach extending across many jurisdictions and extensive knowledge of offshore and onshore trust arrangements.
Our Wealth Planning team acts for a wide range of UK and overseas individuals, trustees, families, their family offices, those in the private wealth industry who advise them and owner-managed businesses looking for advice on both domestic and offshore matters.
Our key areas of expertise are as follows:
Business creation and buying and selling businesses:
We can advise High Net Worth (HNW) Individuals (whether UK resident or non-UK resident or UK domiciled or non-UK domiciled) who are purchasing any UK property
1. Explore best options for purchase considering future use and individual’s circumstances.
2. For individuals, considerations will include the impact of SDLT, CGT, Non-Resident CGT, Income Tax and IHT depending on the value of the property and use.
3. In terms of corporate acquisitions (where relevant) advice on the following aspects will be required, i.e. SDLT, Corporation Tax, Annual Tax on Enveloped Dwellings (ATED), ATED Related Gains Tax, Non-Resident CGT and any related anti-avoidance provisions and the General Anti-Abuse Rule.
We can advise on the UK tax, immigration and wealth planning issues related to any non-UK resident, non-UK domiciled, High Net Worth (HNW) Individual moving to the UK to become UK resident.
1. Specific immigration advice for any client who does not have UK settled status.
2. Advice on the effectiveness of any Offshore Trust/Company Structure held by the HNW as Settlor/Beneficiary (and his wife and family) from a UK tax perspective to include the following aspects, i.e. inheritance tax (IHT), income tax, Capital Gains Tax (and related anti-avoidance provisions) and the General Anti-Abuse Rule. This would include consideration of any restructure or resettlement of the existing Trust (where relevant) and include consideration of all UK tax issues relating to specific assets (particularly in relation to UK property and IHT).
3. Continuing advice on other personal planning aspects, e.g. on remittance basis planning issues to ensure effective UK tax planning for the individual as a non-UK domiciliary to ensure he is only charged to UK tax on what he brings into the UK and his foreign and his foreign income and gains can be retained tax free offshore.
The client was non-UK resident and acting in the administration of a non-UK resident and domiciled deceased’s estate and there were assets in the UK that required a grant of probate.
The clients had recently moved to Australia and wanted to prepare Wills and Lasting Powers of Attorney for their UK assets and also required advice on their domicile.
As part of the client’s estate planning their aim was to gift their property portfolio to their children and they asked Toni to advise on the most efficient way to do this.