Private client tax
Kreston Global provides private client tax services to international high-net-worth individuals (HNWIs) and their families whether their wealth is generated as entrepreneurs, business owners, or through inheritance.
Private client tax considerations
Each client/family is unique and requires bespoke solutions to suit their needs. Factors we consider when advising private clients on their tax situation include;
- The type of assets held (whether movable or immovable)
- Their residency and domicile
- Cross-border activities
- Family circumstances and succession planning.
Tax and risk management strategies
Tax advice provided through the Kreston Network includes the initial planning to look into cross-border arrangements, inheritance taxes, roll-up for income or capital gains and matters of confidentiality. Working closely with colleagues across the Kreston network, member firms assist HNWIs in navigating the tax and legal issues and advising on suitable risk management strategies.
Private client offshore tax solutions
As part of the wider service, Kreston’s private client experts implement tax solutions for HNWIs that enable them to protect and manage their wealth for future generations, from estate planning to more structured solutions such as setting up trusteeships and family offices.
Kreston Global clients can access offshore solutions including:
- Trusts. Assets are held in a tax-compliant manner for succession purposes, family governance reasons, to avoid future dilution or break up of family businesses or other cherished family assets.
- The Family Investment Company (FIC). (An alternative to the traditional trust for UK domiciled individuals looking to manage their family’s exposure to estate taxes.)
- Offshore company. Offering a variety of uses including investment holding, owning shares in public companies, purchase of property, shipping and yacht owning, holding companies for corporate structures, leasing, contracting, employment and consultancy. With some exceptions as a tax-neutral jurisdiction, company trading profits are liable to a rate of 0%.
Kreston’s experts assist HNWIs to ensure their affairs are tax compliant and all reporting requirements are met. Services include:
- Tax returns – preparation and submission
- Cross-jurisdictional tax returns
- Reporting – FATCA and CRS
- Double taxation advice
- Ongoing reviews
Advice taken at the outset is key, with ongoing reviews of the client’s circumstances keeping that advice up to date.
Why choose Kreston Global?
Kreston firms are committed to long-term client oversight and the service we provide means that we work closely together, including offshore service providers, to ensure that the correct solution for each client is designed, implemented and kept under review.
Kreston Global’s network of private client experts are well positioned to assist HNWIs in offering private client tax advice on a standalone basis or as part of a wider client solution.