Tax and Estate Planning

Although the commercial side of Druces’ business has grown significantly, we have always considered it essential to ensure we balance this by advising individuals and families in their personal capacities. We advise UK private clients in relation to Income Tax, Capital Gains Tax and Inheritance Tax, as well as ATED, Stamp Duty and Stamp Duty Land Tax issues including potential tax planning opportunities. We also regularly advise non-UK-domiciled individuals and non-UK-residents and their families, in relation to how their affairs will be treated by HMRC in the UK. We are able to liaise with HMRC on clients’ behalf, and are often well placed to find a simple solution to any complications and difficulties that may have arisen in relation to their affairs.

Legal 500 commentary

Legal 500 note in its ‘Personal tax, trusts and probate’ recommendations that: “Druces LLP has ‘a highly intelligent team that always seeks to provide a practical solution’. Roy Campbell ‘consistently impresses’ and the ‘vastly experienced ‘Richard Monkcom provides ‘very precise and pragmatic answers’. Robert Macro and Neil Morris, who joined from Penningtons Manches LLP, are praised for providing ‘advice that you can trust’.!”

Recent work

• We advised a private individual in connection with his estate planning and his wish to leave a multi-million pound SIPP to his long term partner before his death and dealing with inheritance tax planning in relation to his multi-jurisdictional estate.

• We advised on the estate planning for client which includes overseas assets in Spain and business assets, i.e. combining a combination of jurisdictional considerations as well as a mixed class of assets, adding to the complexity of the planning.

• We advised on the estate planning and wills for a Chinese businessman and his wife, domiciled in China, with assets, in US, Channel Islands, France and China.

• We advised on the will and estate planning for a recent divorcee. The estate included significant artistic assets, an example of one of the firm’s skills in action (i.e. advising on the implications of high value art in an estate’s portfolio).