Family Office
Whether newly created or inherited, substantial wealth usually requires constant management and a dedicated family office to oversee all aspects; from day-to-day accounting and secretarial services through to strategic guidance on high level financial and tax matters.
Creating enduring wealth legacies
Our established family office team supports an exclusive portfolio of prominent, ultra high net worth individuals, families and international residents, many of whom have extensive, often global, financial interests, requiring specialist tax compliance and advisory support.
Each client has their own unique family situation, lifestyle priorities and wealth structuring opportunities. We work to their individual needs, acting with their existing single-family office or acting as a multi-family office and financial controller where required, overseeing every aspect to enhance their wealth and tax efficiency. If a client’s family office is already in place, we work alongside them, advising as an extension of their team, alongside their private banks, wealth managers and trustees.
From wealth preservation and succession planning, worldwide business, property and investment structuring to specialist tax advice, our focus is on providing a first-class advisory and ‘financial management’ service. Whilst we handle all client matters with the utmost discretion, we always have an eye on the bigger picture, pre-empting potential issues and monitoring legislative changes to ensure clients are best placed to protect their interests and capitalise on financial opportunities. Key to the personalised service we provide is that clients can access our advice and support when they need it – we are always available to assist and answer questions they have or advise on any financial or trust matter for peace of mind.
Areas we cover:
- Supporting single-family offices and multi-family offices as well as providing our own family office services to families. This includes all administration, regulatory and compliance oversight, wealth planning advice and tax support
- Specialist advice and support for in-house family offices, including support with key financial decisions, setting up companies and trust structures, and acting as trustees
- Onshore/offshore trusts and structuring, including discretionary trusts, mixed trusts, non-resident trusts, accumulation trusts, interest in possession trusts, settlor interested trusts, and bare trusts
- Family governance and council management, succession planning and operational reviews
- Estate and Inheritance Tax (IHT) planning and Probate services
- Set up and ongoing administration of trusts, foundations, companies, partnerships and family holding structures
- Set up and ongoing administration of trusts, foundations, companies, partnerships and family holding structures
- Employment tax support and payroll services, cross border tax issues and withholding tax
- Property and lifestyle management, including relocation support and logistics
- High value real estate tax (including SDLT, ATED, NRCGT, IHT and NRL)
- Financial risk management, asset protection planning and insurance reviews
- Philanthropy and charitable governance
- Concierge services, data protection and privacy management
Enhancing family wealth for future generations
Ensuring all tax aspects are carefully considered
We appreciate the sensitivities involved with passing assets down through the generations and the need to maintain fairness and family harmony. As independent advisors, we are well placed to help clients navigate these issues, whilst ensuring their personal wishes are carried forward in trust for the generations to come.
Our family office team has substantial experience of guiding clients through long-term legacy planning and creating trust frameworks and documentation to support a range of different business activities, including property development and business investment companies.
From chairing family council meetings to managing client bank accounts and liaising with trustees to distribute income, our work is incredibly varied. Wherever necessary, we collaborate with clients’ other professional advisors, coordinating with lawyers, private banks, wealth managers and other commercial advisors, to ensure a holistic approach; in this way, we become integral to our clients’ financial decision-making, building strong, long-lasting relationships of trust.
Clients benefit from our exceptional tax proficiency, and deep understanding of their financial affairs, which allows us to think more widely and strategically about the advice we give. Our substantial expertise on complex tax matters that are particularly relevant to ultra high net worth individuals and their families is hugely valuable to clients; from wealth preservation, family succession planning, high-value real estate structuring and disposals to tax efficient investments, resident and non-UK resident landlord regimes. We are also qualified to act for clients on probate and estate matters and, given our in-depth knowledge and understanding of their financial affairs which can span many decades, we’re often the advisors who are best placed to do so.
We have considerable experience in providing high level HM Revenue and Customs (HMRC) guidance and full tax compliance management for family offices and trusts, ensuring they fulfil all their relevant HMRC reporting requirements. Whether it’s bookkeeping, the preparation and filing of trust tax returns, remittance management, or liaising with HMRC and tax offices worldwide on withholding tax and international wealth matters, our clients have peace of mind that all aspects of their tax affairs are fully considered and compliant.
Wide-ranging international tax expertise
From Sydney, Los Angeles and New York to Paris, Cape Town and Singapore, we have over 30 years’ experience of managing international tax matters for clients, from a UK perspective. Whilst we’re able to advise on cross border issues from a UK tax perspective, clients can also access high quality, international consultancy for the different tax jurisdictions through our worldwide private client advisory network, Premier International. Established in 1997, we handpick associates with the same ethos of excellence and senior-level expertise and today have 23 trusted and proven partner firms. We collaborate, sharing knowledge and resources internationally to ensure clients have the premium expertise they need.
Forging long-term relationships of total trust
The size of SRLV keeps client service partner-led and personalised. Each client has their own particular needs and challenges, so we shape the strongest team for them, with the right match of industry knowledge, technical expertise and personalities. We become integral to the day to day running, decision-making and strategic direction of their businesses. This is how we forge long-term relationships of total trust.
What is a family office?
As wealth grows in scale and complexity, so too does the need for structured, strategic oversight. For high net worth and ultra high net worth individuals, a family office provides a centralised solution to managing wealth, assets and long-term legacy planning.
INTRODUCING OUR NEW PARTNER: KIERON CLEMENT-SMITH
With a background advising business owners and international high-net worth families, our newly appointed Partner, Kieron, reflects on what’s inspired him in his career so far, and the importance of networking and business development for those aspiring to reach partnership.
Why HNWIs Are Relocating to Dubai: Tax, Lifestyle, and Family Office Strategy
In this episode of Not Just a Number, SRLV Partner Kieron Clement-Smith sits down with Tom Keya, CEO of Ruthberg LLC and legal consultant, to explore the realities of relocating to Dubai.
SRLV ANNOUNCES TRIO OF PARTNER APPOINTMENTS
WEST-END accountancy firm, SRLV, has appointed three new partners after promoting music and entertainment directors, Pembe Ozoran and Adam Stanley, and tax director Kieron Clement-Smith.
