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Markel Tax

Tax services for private clients

The need for specialist advice on all aspects of tax relevant to private clients has never been greater. Frequent and unpredictable changes in tax legislation can significantly erode personal wealth.

Markel Tax can support private clients and their families on their personal tax affairs. We have experts who specialise solely in private client work, which allows clients to benefit from years of experience. 

Spot a tax advisory opportunity for private clients

Opportunities for clients may include:

Non-domiciliaries and residence

  • Ensuring non-UK income remains outside the scope of UK tax
  • Remittance basis claims
  • Gaining or losing domicile in a particular jurisdiction

Residence

  • An individual’s residence status under both case law and the new statutory residence test
  • How residence in a particular jurisdiction can be lost or established

Capital gains tax

  • Principal private residence relief including back garden developments and periods of absence
  • Negligible value claims
  • Disposals of EIS/SEIS/VCT shares

Employment

  • Taxation of termination payments
  • Employee share awards
  • Taxation of employment benefits
  • Employed or self-employed status and IR35

Investments

  • Tax relief for EIS, SEIS and VCT investments
  • Other tax efficient investment strategies

Pensions

  • Maximising income tax relief for pension contributions
  • Dealing with the annual and lifetime allowance charges
  • Options available for drawdown
  • Tax treatment of pensions not used to purchase an annuity
  • The IHT treatment of pensions

Divorce/matrimonial

  • Transfers of business assets
  • Capital gains tax planning
  • Impact on wills and IHT issues

Self-assessment and other compliance issues

  • Tax issues involving self-assessment and the making of tax claims

The process

The Markel Tax team will typically take clients through the following process:
 
Step 1 - A complimentary initial discussion to review existing financial circumstances
Step 2 - Discussions around the options available and scope of work preparation
Step 3 - Engagement and the provision of clear and comprehensive step plans