Advisory services for private businesses and their owners
Deloitte Private appreciates individuals who have achieved success through their own will and diligence. We also understand that private enterprise is closely connected to the family and its assets. We are here to support you and your family.
Income tax advisory and compliance services
Ongoing legislative and regulatory changes, along with an increased tax authority focus on high net worth individuals, create a demanding environment for private companies and owners seeking to understand their tax liabilities and risks. Deloitte is experienced in addressing the complex relationships among the private business enterprise, its owners, family offices, and employees of the business enterprise or family office. Deloitte helps private companies and their owners evaluate the potential tax consequences of various business and personal wealth decisions, keeping tax, business and personal objectives in mind. Deloitte can also advise on changes in the tax and economic climate, and help resolve disputes with tax authorities.
Owner and family wealth planning
Individuals and families with substantial assets often face difficult decisions associated with protecting and extending their legacy. Deloitte is experienced in addressing the many facets of wealth planning for private company owners and their families. Our professionals assist private business owners in exploring the issues relevant to wealth preservation and the transmission of wealth to future generations. Deloitte’s estate tax specialists work closely with a private client’s other professional advisors to address the complex issues involved in estate, gift, inheritance, trust, and charitable activities and to develop and implement an estate plan tailored to their needs.
International tax and estate consulting
Increased mobility among high net-worth individuals and families has coincided with the broad expansion of a globally integrated economy — featuring greater cross-border trade and investment — to create an increasingly complex range of global tax issues. Deloitte professionals work closely with clients to resolve questions of tax residency and domicile and to assess the tax aspects of international investment opportunities. We provide multi-jurisdictional tax and estate advice, taking into consideration family mobility, wealth planning and preservation goals, the nuances of investing in specific countries and asset types, and the tax consequences to the family’s private business enterprises.
Art and Finance Tax Services
Art can be viewed from several perspectives - as a store of wealth, a masterpiece to cherish, a family heirloom, a business, a part of a trust or estate, an investment or a gift to a cultural institution. No matter one’s perspective on art, tax concerns are highly relevant to all actors in the art world, whether art collectors, artists, art businesses, or financial stakeholders.
Deloitte Ukraine and the global network offer a wide array of art-related services to address clients’ needs on a worldwide basis, including:
- Gift and estate tax planning for collectors, family offices, wealth managers, and art advisors
- Intellectual property rights for artists and heirs
- Corporate tax for brick and mortar art businesses and online art businesses
- Philanthropy and charitable planning for collectors, family offices, wealth managers, and art advisors
- Import and export considerations for art stakeholders
Building on the strength of Deloitte’s dedicated Art & Finance initiative, our experts have turned their attention to creating tailor-made tax structuring solutions for art holdings. An art collection frequently represents a substantial part of a family’s wealth and has become a key aspect of its financial and succession planning.
Art represents an asset that is becoming increasingly part of a family’s identity, as well as an investment opportunity that offers returns and diversification. Recent developments have shown that there is a significant opportunity to integrate art into wealth management as a way of preserving and growing a family’s wealth. With the popularity of art as an asset class continuing to grow, Deloitte globally has for the past several years been providing a wide range of Art & Finance services to its clients: private and corporate collectors, cultural and art institutions, foundations, banks, asset management companies, family offices, etc.
Our offer - art at work: a tailor-made approach
Customs and VAT rules relating to art works are far too complex for a ‘one size fits all’ structure.
Depending, among others, on the nature of the seller, the purchaser, the intermediaries, the art work itself, the physical flow of the art work and the place where the art work is sent, the best approach from an indirect tax viewpoint may be totally different.
- We offer the expertise of a network of European indirect tax specialists dedicated to this issue.
- You will benefit from excellent advice to set-up your art works operations in a VAT-effective way.
- You will avoid unpleasant surprises, last minute deal breakers and other indirect tax pitfalls.
Family office services
Effective family wealth management encompasses a range of issues related to not only business aims, but also personal and family goals. Wealthy families often consider establishing a family office to manage their many investments, reporting, philanthropic, and financial planning responsibilities. Properly structuring and staffing a family office requires an analysis of tax and governance considerations, as well as a deep understanding of the family’s short and long range business and professional goals and objectives. Deloitte professionals can assist with family office design and set-up, family education and communications, charitable planning and private foundations, and structuring business investments. Our approach addresses both the family office as a business and the private client’s family wealth as an ongoing enterprise.
Family enterprise consulting
Family enterprises face specific challenges, such as dealing with the complex interplay of business and investment decisions, ownership issues and family relationships. Deloitte provides advice to families to help them navigate these challenges and organize themselves in a positive and constructive way. And in so doing, Deloitte can help foster harmonious working relationships and family and enterprise sustainability, especially when transitioning from one generation to the next. We offer a mixture of facilitation and advice centered around succession planning and family governance. A typical facilitation process could involve helping a family articulate their vision and values followed by designing a bespoke family governance structure via family charter or family constitution. Deloitte’s goal is to help create clarity and alignment so that the family is a positive influence on their business or investment enterprise and vice versa.