Personal Tax Planning

For individuals resident in the UK, income tax rates rising to 50%, plus National Insurance Contributions, mean there is less net after tax income than previously. There are a number of individual planning issues that may be addressed to reduce the overall effective rate.

For those resident outside the UK, considerable opportunities exist to mitigate taxes throughout the world. We appreciate individuals will have their own current team of advisers. Often, a second opinion or independent review is advisable to ensure the optimum situation is being achieved. We work with leading specialists including the large four accounting and consulting firms, and specialist tax lawyers to form a dynamic, dedicated team.

UK Resident Individuals

Areas in which we specialise:

High value earning executives in the financial, intellectual property, media and sports sectors
Owner managed businesses both sole trader, LLP and Corporate based
Structuring to reduce income tax where other routing would result in less taxation exposure
Advice on possible outsourcing opportunities and tax deferment

Non-UK Domiciled Individuals

Consideration of FURBS and/or International Retirement Savings Plan
Split contracts to ring-fence UK based earnings
Generally accepted non-domicile planning

Non-UK Resident Individuals

For those intending to leave the UK, advice on appropriate jurisdictions where choice is available
Analysis of advantages and disadvantages both tax and non-tax of various competitor jurisdictions
Use of Double Tax Treaties and return visits to the UK.
Worked case studies

Gibraltar tax residency

Fixed rate tax agreements
Moving to Gibraltar
Advice on all aspects of Gibraltar tax planning
Category II tax residence
Interaction with Spain
Case studies

Spanish tax residency

Moving to Spain
Becoming Spanish tax resident
Tax planning prior and during Spanish tax residency
Unexpected problems and solutions
Using the International Retirement Savings Plans efficiently
Case studies