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Location: Guildford, England
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Average client size: £5 million - £25 million
Fixed fee offering: No
Number of offices globally: More than 5
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Advising a non-dom on UK tax
Advising an ultra-high net worth individual who is ordinarily tax resident outside of the UK, however, in recent years has spent significant time in the UK. Advised on the key tests for maintaining non-UK tax residency. Also, as an additional safe guard advised on the UK double tax treaty in place between the UK and the client’s home jurisdiction and specifically the provisions applicable to the client should he inadvertently become UK tax resident and the factors to consider in becoming non-UK treaty resident.
Business property relief
Advised an entrepreneur on the availability of business property relief (BPR) specifically where the success of his main trading business led to significant cash reserves and the making of wider investments such that it jeopardised the availability of BPR. Advice included possibility of utilising the cash reserves in activities which continue to qualify for BPR as well as on wider succession planning.
Advice on UK tax and overseas trusts
Advising international clients on the changes to the UK’s non-UK domiciled tax regime and their overseas trusts. The advice has included the impact of the new rules for individuals becoming deemed domiciled in the UK and on ‘pre planning’ for clients who will shortly become deemed domiciled in the UK.