Family Office and Trusts
Whether wealth is newly created or inherited, there are numerous high level financial and tax considerations which we help affluent clients and family offices manage, whilst working to protect and enhance their wealth.
Creating enduring wealth legacies
We support an exclusive portfolio of prominent, ultra-high net worth individuals, families and non-domiciles, many of whom have extensive, often global, financial interests, requiring specialist tax compliance and advisory support.
Substantial wealth usually requires constant management. From wealth preservation and succession planning, onshore and offshore trust structuring and accounting, to high level tax advice we work alongside clients to set up and manage a variety of different companies and trusts, including onshore/offshore trusts and non-resident trusts.
Each client has their own unique family situation, lifestyle priorities and wealth structuring opportunities. We work to their individual needs, advising either as an extension of their family office, alongside their private banks, wealth managers and trustees or in the role of financial controller, if they need one, to oversee every aspect their wealth and maximise tax efficiency.
Whilst we handle all client matters with the utmost discretion, our focus is on providing a first-class advisory and ‘financial management’ service. 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, as well as capitalise on financial opportunities and support them with key financial decisions throughout the year. 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:
- Family office support/management
- Advice on wealth preservation, succession planning and trust structures
- Acting as trustees
- Worldwide business, property and investment wealth structuring
- 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
- Registration and ongoing liaison with HMRC’s Trust Registration Service (TRS)
- Trust accounting, trust tax returns and compliance management
- Trust valuations and liaison with HMRC’s share value division
- Cross border tax issues, withholding tax
- High value real estate tax (including SDLT, ATED, NRCGT, IHT and NRL)
- Capital Gains Tax, Inheritance Tax advisory and Probate services
Enhancing family wealth for future generations
Ensuring all tax aspects are carefully considered
We have 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 trustee board meetings to managing trust bank accounts and liaising with trustees to distribute income, our work is incredibly varied. Wherever necessary, we collaborate with other professional advisors, liaising regularly 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.
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.
Family offices 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 high level 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 of 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.
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.
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.
