Tax

Your home may well be your castle, but defending it from the complexities of UK taxation is a daunting task for the very wealthy.

Your property interests are simply greater than other taxpayers and you have more at stake. It doesn’t help that UK tax rules are amongst the most complicated in the world. You need specialist understanding and advice.

Our team consists of highly professional and experienced tax lawyers and qualified Chartered Tax Advisers. It includes the Chair of the Chartered Institute of Taxation’s Property Taxes Sub-Committee and members of the Stamp Taxes Practitioners’ Group. This means that we have the technical expertise, ability and experience to most effectively guide you through the many UK tax issues that may arise in connection with your property. Our focus is on helping you with legitimate tax planning and mitigation strategies.

Buying somewhere to live in the UK can involve significant UK tax for high-value properties. We can advise you on the tax consequences of buying your property, your options on how to own it, how you will be taxed on your return on investment and how to minimise the tax you will pay.

If you are a UK resident considering selling your property, your Capital Gains Tax (CGT) liability is likely to be significant. We can help you recognise opportunities which can substantially reduce your liability, if appropriate, such as entrepreneurs’ relief and other statutory reliefs. Similarly, the high value of your property will also trigger higher Stamp Duty Land Tax (SDLT) charges. We can help you recognise and utilise opportunities to reduce SDLT charges through certain reliefs and exemptions.

Naturally you will also want to consider the implications of leaving your property to your loved ones without leaving them with huge CGT and inheritance tax bills. We can help you minimise their inheritance tax liability, for example through the use of business property relief and gifts out of income – a valuable inheritance tax exemption.

We understand the unique challenges that your wealth poses in connection with your home in the UK and always seek to give advice in a clear, straightforward and cost effective way, to ensure you have the support you need to manage your property affairs tax efficiently.

Our team has extensive experience helping wealthy clients from all over the world buy and sell property in the UK in the most tax efficient way.

Our recent work has included:
  • Acting for non-UK domiciled clients in relation to the tax implications of purchasing and holding assets in the UK, and becoming tax resident in the UK
  • Analysing, critically reviewing and remedying defects in SDLT and CGT planning around the restructuring of a £44m property portfolio – our advice saved the client from entering into a restructuring that would not have had the intended tax consequences, saving approximately £500k in tax
  • Advice on VAT and Stamp Duty Land Tax issues on the acquisition and funding of an £18m office block situated within London’s M25 with Permitted Development rights to convert to over 125 residential units
  • Advising on the international tax structuring of a property development including development of a new hotel and the conversion of commercial property to residential homes
  • Advising high net worth individuals, offshore companies, trusts and foundations in respect of “de-enveloping” UK residential properties worth in excess of £500,000
  • Advising non-domiciled UK residents as to the tax implications of remitting money and transferring assets to the UK.