Non-domiciles
There are a variety of complex factors that help determine a person’s domicile status and how they are taxed in the UK. We help our clients to navigate the difficult non-domicile tax landscape, whilst working to protect their wealth and manage their exposures to income tax, capital gains tax and inheritance tax.
Protecting non-domicile wealth in the UK & overseas
We manage an array of complex tax issues on behalf of non-domiciled clients, from ultra-high net worth families from around the world, to internationally mobile professionals and business owners. We act for a number of significant clients from the Middle East, South Asia, East Asia and Europe, as well as large number of clients with links to the US.
Whether it’s advice on UK residency and domicile status, or specialist tax support with non-UK trusts and international wealth structuring, our focus is on providing a first-class advisory and ‘financial management’ service. We always look to 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.
Collaborating with clients’ other advisors, where possible, to ensure a holistic approach, we often act in a financial manager or family office -type function, overseeing every aspect of their interests in the UK, and elsewhere, to maximise their tax efficiency. In this way, we become integral to our clients’ financial decision-making, building strong, long-lasting relationships based on trust.
Key to the personalised service we provide is that clients can access our advice and support when they need it – we handle all financial matters with the utmost discretion and are always available to assist and answer questions they have or advise on any business or personal wealth matter for peace of mind. We value the confidence in which we’re held, and the trust that underpins this.
Areas we cover:
- Determining and reviewing non-domicile and deemed-domicile status
- The statutory residence test and UK residence planning
- Pre-arrival advice
- Tax compliance services for non-domiciles and their businesses
- The remittance basis of taxation including business investment relief and tax-efficient remittance and ‘clean capital’ planning
- Succession and inheritance tax planning for wealthy families
- Advising on UK and non-UK trust, company and private wealth structures, including reviewing historic structures and ‘de-enveloping’ advice
- Purchasing, holding and disposing of high value real estate, including advisory and compliance services relating to stamp duty land tax (SDLT), the annual tax on enveloped dwellings (ATED), the non-resident landlord (NRL) regime, inheritance tax on indirectly held residential property, and the non-resident capital gains tax regimes Tax and Business Asset Disposal relief (Entrepreneurs’ relief)
- Probate services
- 'In-house’ financial management / family office -type support
Ensuring all personal and business tax aspects are fully considered
Expertly managed tax compliance and strategic wealth support
Many of our non-domiciled clients have substantial business, property and financial interests internationally. So, whether it’s their own companies, investment portfolios, or family trusts, our multi-disciplined expertise enables us to consider every aspect of their personal and business tax affairs. Viewing their situation in the round is key to delivering tax effective advice and, as there is one lead advisor covering all their financial interests, clients don’t need to consult a multitude of other specialists.
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 a wide variety of tax matters relevant to ultra-high net worth families is hugely valuable to clients. 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 of dealing with HM Revenue and Customs (HMRC) on non-domicile issues and providing full tax compliance management on behalf of clients to ensure they fulfil all their statutory requirements, according to HMRC’s Making Tax Digital framework. Whether it’s bookkeeping, the preparation and filing of Self-Assessment returns whilst electing into the remittance basis of taxation, or liaising with HMRC and tax authorities worldwide on 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 protecting and enhancing our clients’ wealth, decision-making and overall strategic financial direction. This is how we forge long-term relationships of total trust.
International tax consultancy
From Sydney, Los Angeles and New York to Paris, Cape Town and Singapore, we have over 35 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 access high quality, multi-jurisdictional advice for other countries through our worldwide tax 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.
