Private Client Services
High net worth individuals and family offices
Our award winning Private Client Services team provides advisory and tax compliance services to high net worth individuals, their family offices, investment funds and individuals involved in commercial transactions. Our clients’ wealth comes from a very wide range of backgrounds including entrepreneurial business in various industries where our clients are the major shareholders in some of the world’s largest privately held companies, private equity or hedge fund management, and inherited wealth.
Our goal is to be our client’s trusted advisor who will be the first port of call in respect of any transaction or major decision, whether that be a significant personal investment, succession planning, moving to the UK or relocating to another jurisdiction.
High net worth individuals
High net worth individuals have a broad range of concerns, often complicated by family demands, international issues, and other matters which require the input of advisors experienced in resolving these issues. Due to the complex nature of the affairs of high net worth individuals and their families, the issues and challenges faced by our clients are unique to each individual, but our work often includes advice in respect of the following:
- Setup, structuring and maintenance of family office
- Residence and domicile
- Trusts, estate planning, family governance and succession planning
- Philanthropic activities
- Investments including real estate, funds and personal investments
- Personal assets such as art, yachts and airplanes
- Transactions relating to the family business
- Tax compliance services and managing relationships with tax authorities around the world
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.
Ongoing legislative and regulatory changes, along with an increased tax authority focus on wealthy individuals and their business connections, creates a demanding environment in which to meet appropriate compliance obligations.
Increasingly, individual interests span a number of jurisdictions, meaning that the challenge of complying with local requirements is even greater. Deloitte is experienced in managing these compliance responsibilities and our team of experts are well positioned to advise our clients in respect of their relationship and interactions with the tax authorities. Deloitte works closely with worldwide member firms of the Deloitte network to help our clients meet their compliance responsibilities, to prepare for changes in the tax and economic climate, and help resolve disputes with tax authorities.
Deloitte advises a range of funds across all asset classes including, private equity, credit, infrastructure and real estate. Our Private Client Services team have extensive experience in advising early start-ups and family investment funds as well as large leveraged buy-out funds and financial institutions. These funds face a range of complex and interrelated questions, such as navigating changes in the tax and regulatory environment and balancing the need for limited partners and family investors to receive their returns in a tax efficient manner with appropriately incentivising the fund management team. Our team have the skills and experience needed to access bespoke advice across a range of jurisdictions so that these issues are brought to the fore throughout the fund’s lifecycle.
Rapidly growing private and entrepreneurial companies frequently undertake transactions as their business matures, often with a view to introducing funding to the business or releasing cash to the shareholders. Such transactions may include, refinancing, the introduction of private equity investors, management buyouts or an eventual exit. For large, established private companies, M&A activity is likely to be high on their agenda, often with a view to global expansion or diversification.
Deloitte’s transaction team has a wide range of experience in providing tax advice to companies and individuals on such pivotal events, working closely with our colleagues in Corporate Finance and other professional advisors to deliver structuring that complements the commercial requirements of any particular deal. Our personal tax specialists are also able to advise shareholders on other tax matters close to their own hearts such as estate planning, succession and, where relevant, understanding the advantages offered by aspects of international tax planning including consideration of the non-domicile status.
Deloitte’s Tax Valuations team has a wide range of experience in providing tax valuation advice to individuals, partnerships and family-owned companies, including advice in respect of:
- The market value of shareholdings in connected party reorganisations
- Negligible value claims
- March 1982 valuations
- The market value of taxable business assets for estates passing on death, chargeable lifetime transfers and potentially exempt transfers
Find out more about Tax Valuations
Tax risk and resolution
Balancing financial reputation, regulatory requirements and a positive relationship with HMRC are crucial in the current tax environment and tax has an ever increasing profile as HMRC seek to ensure that the right tax is paid.
Deloitte’s tax risk and resolution team has an in-depth understanding of HMRC’s risk assessment approach, current initiatives and legislation. The breadth of our experience enables us to give informed and objective advice. Using expert technical and professional knowledge we offer strategies for timely and commercial resolution to HMRC intervention.