Tax planning for wealthy families

Affluent individuals and families with substantial assets have to put in place measures to protect and grow their legacy while pursuing their financial goals. At Imperial & Legal, we understand that tax planning is not just about producing an accurate income tax return once a year. Our advisors can add colossal value to your wealth throughout the year, both to ensure you comply with tax laws, but also to save you from unnecessary income, capital gains, and/or estate taxes down the road.

What we offer

We work with high-net-worth individuals providing our long-term wealth planning services. We practice individual approach and offer tailor-made solutions. We will help you preserve, protect and grow your wealth through:

• Gift planning and designing special programs for heirs in order to minimise taxes (annual exclusion gifts, gift tax returns, etc.);
• Creating and structuring trusts, partnerships and other fiduciary solutions to help you preserve your wealth both for your benefit and the benefit of generations to come;
• Shielding you from unforeseen claims and liabilities and other events in life that have the potential to complicate your financial and business goals;
• Assessing and structuring charitable planning vehicles for special causes;
• Managing tax risks and keeping up-to-date with regulatory and tax changes;
• Tax planning and tax optimisation;
• Advising to help keep your plans current.

Estate and gift tax planning

Our experts will work out a comprehensive plan to preserve your wealth and pass it on to your designated beneficiaries in the manner you choose. There are various estate and gift tax planning options to help you make an educated choice.

We aim to build long-term relationships with you and your family to be able to tweak your plans based on your changing goals and circumstances. There are four steps in the estate planning process that we follow with every client:

1. Assess current situation
2. Determine planning options
3. Implement the estate plan
4. Monitor the plan

Careful estate planning delivers clear reward; peace of mind for you now and security for your family down the line. By establishing a well-considered plan today, and updating it as needed, we’ll help ensure that your wealth and your vision for it survive well into the future.

Income tax compliance and planning

Regulatory and legislative environment of income taxes for business and personal financial planning is complex and constantly changing. Your income and expenses, your business transactions and investments all have tax implications.

We help our affluent clients to stay informed of changing regulations, comply with them and develop solid plans to avoid tax surprises.

Our expertise

We provide income tax planning services and advice on potential impact of new rules and regulations. With our help, you can minimise your tax burden and always comply with the requirements in force. Our services include:

• Prepare and submit tax returns in a due and timely manner;
• Assist with tax examinations;
• Explore tax-saving opportunities;
• Develop tax strategies to optimise tax and alleviate tax consequences;
• Work out financial plans;
• Transfer estates.

Every pound of income tax you save means more cash at hand for you and your family. Make sure you fully exploit the tax-saving opportunities open to you and conduct informed tax planning on a year-round or multi-year basis.

Tax reclaim assistance for private clients

We offer a value-added service of tax management and optimisation of investments. Tax refunds claimed in an efficient and proper manner can increase your wealth, improve and enhance the performance of your assets portfolio.

What you can claim

You can make a claim for capital loss to reduce your total taxable gains.

You can also claim a refund if you overpaid your tax in the following cases:

• You’ve changed jobs and are being taxed under an emergency code for a while;
• Your spouse or civil partner is born before 6 April 1935;
• Wrong tax code is applied to you;
• You have more than one job.

What we can do for you

We offer support both for tax residents and non-residents, for domiciles and non-doms. We help to determine your status and assist with the following:

• Make tax calculations;
• Prepare and submit a tax return on an arising or remittance basis;
• Assess if you are eligible for a refund and help you claim it, etc.