Inheritance, estate and gift taxes
We offer peace of mind when passing assets to the next generation. Whether your assets are based in a single country or spread around the world, we can help with inheritance tax planning so that the authorities do not take more than their fair share.
We advise many of the world's most successful families on how to pass their wealth to future generations.Perhaps you are a US-UK couple looking to plan your estate, which includes assets in both jurisdictions. Perhaps you are not resident in the UK but are facing a double tax bill on an inheritance there. Perhaps you are UK resident and domiciled but wish to make lifetime gifts to members of your family.
Whether your wealth is based entirely in your country of origin or is spread widely around the world, we can assist with inheritance tax planning. We use flexible trusts, family limited partnerships and limited liability companies to ensure that wealth passes to the intended beneficiaries, and the government does not take more than its fair share.
Our international reach means that we are frequently asked to assist with cross-border cases where assets may be taxed twice. We also advise when penalties have been incurred.
Executors of multi-jurisdictional estate
Advised the Executors of a complex multi-jurisdictional estate on its administration and securing Business Property Relief from inheritance tax on private family company shares.
Cross border wills
Advising a number of clients who are domiciled in India and Pakistan on the structure of their wills to maximize the possibility of tax treaties with the UK applying on death. This can protect UK assets from charges to UK inheritance tax notwithstanding the clients being UK deemed domiciled through long term residence.
Post death tax planning
Following the unexpected death of the principal of a large trading business, post death tax planning to maximize inheritance tax reliefs, both on death and on the death of the surviving spouse in due course. This has involved complicated tax, trust and corporate issues to avoid significant tax charges on the restructure and a number of clearance applications with HMRC.
US citizen buying UK property
Buying property in a different country can be more complicated between some jurisdictions and in particular for a US buyer in the UK. Our integrated US team in London working with our UK tax and property teams were able to assist our US client to buy the UK residential property, utilizing debt finance from his US trust structure. It was important to get the interplay between US and UK estate taxes right for him in light of him also becoming a UK tax resident, so we have advised on his broader estate planning too.
Aided a Brazilian family with significant US commercial real estate holdings to restructure the ownership of this property to avoid US estate tax. Also devised arrangements for Brazilian residents to create legitimate structures that are protected from Brazilian taxation, permit efficient repatriation of capital to Brazil when needed and ensure optimal flexibility and family control to respond to changing needs and tax laws in the future.
Represented a prominent Chilean businessman to secure and sustain his assets for his US-born descendants by allowing him to avoid US estate tax and reduce his Chilean property tax payments using usufruct transactions.
An estate executor
Withers has extensive experience and knowledge of inheritance tax issues around the world. This means that we are often called to step in when problems arise. One executor of a will came to us when he wanted to take action against his late spouse's solicitor. We were able successfully to argue that the solicitor had failed to effectively advise about US tax liabilities on the spouse's worldwide assets during the making of her UK will.
The UK "non-dom" regime
"Non-doms" have returned to the political spotlight.
In our series of articles we explore what the UK "non-dom" regime is, what it may look like in the future as a result of potential political change and the alternatives regimes available across the world.
Read our short articles below to find out more.
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Typical clients and industries include
Families and family officesFamilies call on us when they want a firm that understands their needs – whether they are looking to pass down wealth, set up and run a family office, or make their mark through philanthropy. Find Out More
FoundersFrom advising on tax or global expansion, helping company founders realise their vision is an important aspect of our work. Find Out More
High net worth individualsWith complex interests that often span several jurisdictions, highly successful people need seamless advice. With a full-service offering across our offices around the world, we provide just that. Find Out More
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We offer a full range of services to individuals and businesses. Find out how we can help you solve challenges or maximize opportunities.
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