Effectively managing your assets
What is involved?
Tax is an essential consideration when managing your assets and personal transactions. Evading taxation has serious implications for individuals as well as businesses, so it’s important to seek the right legal advice. We can help you to plan for taxes effectively. There are five taxes to take into account, these include:
- Capital gains tax (CGT) – A tax on the profit when you sell something that’s increased in value
- Inheritance tax (IHT) – A tax on the property, money and possessions of someone who has died
- Income tax – A tax on your income which varies depending on how much you earn
- Value added tax (VAT) – A tax placed on a product whenever value is added at a stage of production
- Stamp duty land tax (SDLT) – A tax you pay if you buy property or land over the price of £125,000
Why choose Freeths?
- We will explain the law to you in plain English, ensuring that our advice is sensible and achievable
- You can rely on us to be approachable, friendly and readily available to discuss your case
- Our team help a wide range of people, including high net worth individuals with complex estates
We also have a wide variety of information guides regarding personal taxation, including chargeable event certificates and tax return price lists for individuals, trusts, and estate administration. Please get in touch if you would like a copy.
We will identify possible traps and pitfalls, and advise you on how to overcome any potential problems.
It is extremely important for us to ensure that tax mitigation schemes do not intrude on your lifestyle.
Our dedicated team are experts in the construction of schemes to preserve your wealth and minimise the impact of these taxes. We can help you to make the most of what you have, while staying within the boundaries of the law. Tax planning can be complex, but we have the analytical skill to guide you through it.
Call our experienced Private Client team to find out how we can help you.
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Our Tax Legal Team
- Advising on tax efficient legal structures for investments, including the availability of EIS and SEIS.
- Advising on the Stamp Duty Land Tax implications of a client’s acquisition of a £25 million+ residence and surrounding land, obtaining the client a tax liability saving of over £80,000.
- Estate planning for a landed family, including protection of agricultural value for inheritance tax purposes. This involved the creation of trusts of non-agricultural assets and preparation of complex Wills to preserve the estate for future generations.
- Assisting clients with Will & Inheritance Tax Planning where there are diverse family needs to be met and assets in multiple jurisdictions.
- Preparing tax planning wills for wealthy individuals with complicated investments, including overseas assets.
- Assisting with the tax planning of a commercial property development, giving advice on the VAT implications of overage obligations and restrictive covenants.
- Tax and legal structuring of private equity investment funds.
- Successfully dealing with a formal enquiry raised by HMRC in relation to a transaction with a Stamp Duty Land Tax liability of £1.2 million.
- Acting for the taxpayer on HMRC investigations and disputes.
- Individual and corporate tax planning.
- Real estate tax structuring.
- Tax and legal structuring of private equity and co-investment funds.
‘Doing the right thing’ is at the heart of Freeths. Find out more about our excellent client service and the strong set of values that guide the way we work.
Talk to us
Freeths are a leading national law firm with 13 offices across the UK. If you have a query about our services or just want to find out more, why not give us a call?
Contact: 03301 001 014