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Private Client Tax

United Kingdom

The CMS Private Client Tax practice advises on all aspects of personal and corporate tax matters including income tax, capital gains tax, inheritance tax and stamp duty land tax.

CMS tax practitioners have experience across a range of practice areas and are well placed to advise family office clients and high net worth individuals ("HNWIs") on their tax affairs in order to optimise their tax position in relation to their properties, businesses and investments.

The CMS tax practice provides services and guidance in the following private client tax areas:

  • Residence and Domicile - helping HNWIs with all tax matters relating to moving to or from the UK.
  • Aircraft and Yachts - The importation of private aircraft and yachts into the UK raise complex VAT, customs duties and income tax issues. Facilitating the cross-border movement of these assets into and out of the UK, including advice on VAT and customs duties applications to HM Revenue & Customs ("HMRC") and related registration requirements.
  • Real Estate tax advice - CMS has the largest and most extensive real estate practice in a UK law firm. CMS advise UK and non-UK tax resident investors on optimising their UK tax position.
  • Ownership Strategy - Our in-depth knowledge and expertise enables us to advise HNWIs and family offices on comprehensive tax strategies for ownership of assets and investments. This includes advising on the availability of business assets disposal relief (previously known as entrepreneurs’ relief) from UK capital gains tax and business property relief from UK inheritance tax through to succession planning.
  • Ultimate Beneficial Owners / PSC - A UK company is required to produce, keep and maintain a public register of people with significant control over that company. We are able to assist clients in structuring their UK investments and fulfilling their compliance tax obligations.
  • Tax Investigations and Disputes – We regularly advise HNWIs on HMRC investigations and enquiries into their tax affairs (including failed tax mitigation schemes). This includes evaluating the effectiveness of tax schemes and any potential recourse against scheme promoters and advisers. We have extensive experience in the handling of contentious tax matters , primarily in disputes with tax authorities but also between parties in commercial disputes. 
  • Business Taxes - Our strong corporate tax practice is able to assist on a wide variety of business tax matters, from corporate tax structuring to advising on carried interest and co-investment and tax efficient acquisitions and disposals.
  • Investment Products, Excepted Group Life Policies and Corporate Trusts - We have considerable experience advising clients and family offices on tax-efficient investment products in the UK including investment bonds and other insurance products. We also advise insurance companies, corporate clients and corporate trustees on the tax implications of excepted group life policies and establishing employee healthcare trusts.
  • Common Reporting Standard ("CRS") - We are able to assist clients, including trusts and corporate service providers, in identifying their CRS reporting obligations. We are also able to assist clients with making disclosures under the Worldwide Disclosure Facility.
  • Brexit – We regularly advise clients on VAT and cross-border tax matters in respect of business and international wealth holding structures.

Why you should use CMS for Private Tax issues

We have tax capability in over 70 offices around the world. This means CMS clients always have access to local market knowledge and co-ordinated advice on international matters.

Contact the CMS Tax Practice now for Private Client Tax services. 

CMS can also help with wider tax services.  CMS can also help with tax disputes and investigations. 

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19/04/2021
In­vest­ment Products, Ex­cep­ted Group Life Policies and Cor­por­ate Trusts
The UK has a spe­cial tax re­gime that ap­plies to life in­sur­ance policies. The CMS Private Cli­ent Tax Prac­tice has ex­tens­ive ex­per­i­ence as­sist­ing life in­sur­ance pro­viders and their poli­cy­hold­ers to nav­ig­ate...