Personal Tax

Tax planning for UK and non-UK domiciled clients

Our team specialise in providing commercially optimised personal tax planning, with the aim of preserving wealth. No situation is the same so we will always spend time with you to understand your needs and your background and to tailor our advice accordingly.

Self-assessment and personal tax planning

With over 25 years’ experience our personal tax manager will provide you with practical advice on personal tax positions and the planning opportunities available to you. We will complete and file your self-assessment tax return and advise you on exactly when and how much to pay. Our advice is geared to:

  • Self-employed traders, partnerships and LLPs
  • Company directors, LLP members and HNW individuals
  • Non-resident and non-domiciled individuals
  • Trust Beneficiaries
  • Property owners, including non-resident landlords

Keeping abreast of developments and the application of Finance Acts, we often help our private clients with the following tax planning opportunities:

  • Income tax planning for UK nationals
  • International tax planning for non-UK residents, including establishing UK tax residency
  • Investing in the Enterprise Investment Scheme (EIS) and the Seed Enterprise Investment Scheme (SEIS) to actively reduce income tax and capital gains tax liabilities
  • Capital gains tax reliefs
  • Carry-back of trading losses
  • Incorporating let properties into a company
  • Claiming tax-relief on pension contributions and protecting pension pots

Tax planning for Non-UK Domiciliaries

We have expertise with personal tax planning for non-UK Domiciliaries, including claiming the remittance basis. Our office can assist you with:

  • A Domicile Status Report, explaining the general principles of domicile and the impact of future behaviour and actions;
  • Planning for arrival to the UK, including advice on tax residence, remittance, practical tips and record-keeping requirements;
  • Clean capital segregation, including purchasing UK property;
  • Investing in the UK, including claiming Business Investment Relief (BIR)

Succession planning and Inheritance Tax (IHT)

The time to think about succession planning is now. Whilst your estate is likely to attract IHT, we view IHT as entirely optional because of the reliefs that are available. We are here to advise you on timely tax efficient planning to help maximise the benefits of your estate for your loved ones.

We formulate our advice based on your tolerance for risk and any liquidity, legal or other unique considerations that may be relevant. We will spend time with you to understand your personal circumstances, your other sources of income, how your business is structured and when you plan to realise your investments to make sure that we are accurate and comprehensive when it comes to estate planning. Our advice will always seek to balance the two main concerns clients have with inheritance tax planning: the loss of access to income/capital and the loss of control over the assets themselves.

Our discreet and comprehensive succession planning encompasses:

  • Help with planning and reviewing a will
  • Making full use of exemptions
  • Optimising lifetime transfers
  • Transferring business or agricultural property
  • Transferring assets into trust
  • Arranging adequate life assurance to cover potential inheritance tax liabilities

As independent advisors with no family involvement or bias, our experience can also help with family business consulting. We can help you understand issues affecting the family business and encourage discussion within the family, finding the most positive way forward.

Latest News

Spring Budget 2024 – The leaked and leaky Budget

Spring Budget 2024 The Chancellor managed to find some optimism in the deteriorating economic forecasts, as most Chancellors, of whatever political hue, seem to do before an election. Mr Hunt announced a further 2% cut to national insurance, although it appears that the current budget deficit and the anticipated fall in inflation to 2% did […]

Payrolling Benefits

What is a Benefit in Kind? Benefits in kind (BIKs) are benefits that employees or directors receive from their employer which aren’t included in their salary or wages. BIKs are popular elements of many people’s salary packages and can be used by an employer to structure an effective and tax-efficient salary package. Some BIKs aren’t […]

ATED Valuation Update for 2023/24 return

ATED Update Certain companies owning UK residential property need to submit an Annual Tax on Enveloped Dwellings (ATED) return every year. ATED is payable by companies that own properties valued at more than £500,000 if none of the various reliefs apply. Valuation dates and the 2023-24 ATED return Valuation dates are relevant for determining a […]

Spring Statement 2023

Back to the Future Following the “Growth Plan” mini budget delivered by Kwasi Kwarteng on 23 September 2022, Jeremy Hunt took centre stage for the second time on 15 March 2023 to deliver a…”Budget for Growth”. Fiscal policy can be assessed in three measures: efficiency, effectiveness and equity and whilst the announcements were fairly safe, […]

Autumn Statement 2022

Taxing Times In the latest decisive swoop of indecisiveness, Jeremy Hunt performed a 180 degree turn from the Mini Budget delivered less than two months ago by his predecessor. If the Mini Budget was dubbed “The Growth Plan”, can the Autumn Budget also be a plan for growth? It was a step in the right […]

Earning over £100k: how to avoid the 60% Tax Trap

A pay rise or bonus that takes one’s annual income above £100,000 is cause for celebration. Tread though carefully these muddy waters, for additional income earnt up to £125,140 attracts the highest rate of marginal tax across all other taxpayers, including those richer than you. Read on for tax-saving tips on how to navigate the […]

One Entertains: Tax Allowances for the Platinum Jubilee (and other Entertainment)

With the dust still settling on the Mall following a triumphant celebration of Her Majesty The Queen’s Platinum Jubilee, one may begin to consider the tax deductibility of hosting Diana Ross, Ed Sheeran and the like – a figure reported to be around £28m. As a general rule for tax, expenditure on entertainment or gifts […]

Spring Budget 2022

A Targeted Budget Amid soaring inflation of 6.2% and forecasts of the sharpest fall in living standards since records began (according to the UK’s fiscal watchdog), Rishi Sunak presented a Budget which he argued would support the UK economy, businesses and families in both the short and the medium term. In contrast to the profligate […]

EIS Tax Relief for Joint Investment

The following scenario often arises with our client Mr Investor, who is considering investing in an early-stage business. Wonderful Ltd is an established FinTech company which has developed a track record of an established user base, consistent revenue figures and other key performance indicators. Wonderful Ltd is now seeking to raise Series A funding of £1.5 million […]

Wealth Tax?

Calls for a wealth tax have so far been made with little impact, amid fears that a levy on assets would not go down well with conservative – or even not-so-conservative voters, and could hurt people with valuable homes but little cash. However, the Wealth Tax Commission said the timing was ripe for radical change […]

Scroll to top