Private Client Services
We recognise that you are unique and so are your needs. As a private client of EY you will receive a bespoke service tailor-made to help you achieve your objectives.
We work with individuals, families, privately owned businesses and family offices to create long-term relationships and develop strategies to achieve often competing objectives.
In addition, we offer a wide variety of services associated with owning, managing and preserving businesses and wealth, including asset protection, family governance services, estate and succession planning, sensitive wealth transfers, philanthropic planning, and global tax planning for clients with international affairs.
Entrepreneurs and business leaders
Our Private Client Services team advises entrepreneurial clients and business owners on their personal tax affairs. We help our clients structure their affairs appropriately when establishing a new business, throughout that business’ life, and as they plan for an eventual sale. We work closely with them to understand their personal and family circumstances, so we can optimise their tax position and stay aligned with their wider objectives.
We are committed to developing long-standing relationships with our clients, so we can support them throughout each stage of their life. The advice we give is broad, adapts to their changing needs and circumstances and extends to their interests in companies, trusts, partnerships, and charities, bringing in specialists from our wider EY network (internationally where required) to provide a truly seamless, holistic offering.
Every family business is different and we believe our approach should be as unique as the families we serve. As one of the globally-recognised market leaders in advising family businesses of all sizes, our ethos of tailoring our work to suit our clients’ specific needs is central to everything we do.
The EY Family Business team is a multidisciplinary group spanning all lines and is ideally placed to guide family businesses and their owners through the wide range of challenges and opportunities they may face.
Working in collaboration with EY’s Family Business Centre of Excellence, we produce ground-breaking and insightful thought leadership in conjunction with academic partners from across the global, including the University of St Gallen and Lancaster University Management School.
The ways we work with family businesses include:
- Effective tax management, including corporate and personal taxes
- Business structuring and advising on alternative holding structures
- Next-generation and succession planning
- Governance, sustainability and long-term family objectives.
Managing any family’s day-to-day affairs is rarely straightforward and when the family is high-profile, has considerable wealth, or is internationally mobile, the complexities increase considerably. EY is experienced in working with these families and their family offices to help navigate the challenges and opportunities they face in the UK and overseas.
Our clients span a huge range of circumstances from individuals at the very earliest stages of considering whether a family office is right for them, to long-established multi-generational teams who are very much part of the family’s culture and identity. We not only work with the office’s principals, we also strive to develop deep and cooperative relationships with those working within the family to provide a cohesive, effective and efficient service benefitting both the family and their businesses.
EY’s multidisciplinary Family Office team have deep experience in this field, with many having worked in family offices themselves.
Landed estates and agriculture
EY has a national dedicated team with deep technical and industry experience in the field of landed estates and agriculture. Our clients include estates within the heritage property scheme, maintenance funds, large commercial estates, family farms and holdings owned by non-resident individuals and structures.
Although each of our clients is unique, they all benefit from the breadth of services EY can offer from strategic business advice to the day-to-day management of VAT and PAYE. The senior members of our team are regularly called upon by our clients to assist in reviewing and redesigning ownership structures to meet the needs and objectives of the family. Whereas tax is an important factor, the discussions are led by the commercial, philanthropic and succession needs of the stakeholders.
EY is actively involved in lobbying on tax, business and accountancy issues and is also a member of the Country Land & Business Association, Scottish Land & Estates and Historic Houses.
Wealthy families and individuals
Every family is different and each faces its own unique challenges and opportunities. Our clients are wealthy families who have accumulated wealth from a variety of sources, from multi-generational landed estates to the successful growth and sale of start-up businesses.
Our experience of working with some of the UK’s wealthiest individuals and most influential families around the world tells us that understanding individual needs is paramount. Whether concerned with the interaction between a client’s personal and business affairs or beginning to think about succession and passing wealth to the next generation, our experienced team works to deliver the level of service you need, expect and deserve.
Trustees and corporate service providers
We understand the importance of the relationship between trustees, directors and other corporate service providers (CSPs) and their principals; these are the people working day-to-day to provide the best possible service to their clients. That is why we work alongside them to help them deliver solutions.
We are also experienced in advising trustees on their own tax considerations; from reviewing historic holding structures to UK filing and reporting obligations. Our team includes specialists on Foreign Account Tax Compliance Act (FATCA), the Common Reporting Standard (CRS) and the Requirement to Correct (RTC) regimes, both in the UK and offshore.
Funds and private equity
Given the pace of change taking place in the Private Equity (PE) world, from changes to the taxation of carried interest to Brexit’s commercial impact, it is vital that funds, houses and managers receive a joined-up, forward-thinking service to help them navigate the challenges and opportunities ahead.
Our clients range from high net worth individuals looking to diversify their personal portfolios by expanding into PE, to some of the largest funds and PE houses in the world. We also act for some of the biggest PE-backed companies across the globe, so we are ideally placed to advise clients no matter where they may be.
Our Private Client Services team also has extensive experience looking after the personal affairs of individual fund managers, from extraction of fund profits and tax-efficient wealth structuring, to a full personal tax compliance service.
In an increasingly globalised world, it is vital that individuals structure their affairs to achieve tax efficiency and compliance across all relevant jurisdictions. EY operates in more than 150 countries, and our global approach means our international team of advisors can provide individuals with cross-border affairs with a comprehensive, integrated solution.
Obtaining accurate and up-to-date advice has never been more important following a succession of changes to tax laws governing the taxation of UK residential property and structures such as trusts, as well as the introduction of enhanced information sharing arrangements between governments such as the Common Reporting Standard (CRS). Our experienced UK team regularly advises individuals, their family offices and businesses on a broad range of residence, domicile and structuring matters tailored to suit their needs and the requirements of an increasingly transparent and regulated environment.
Business structuring and transaction support
As a business grows, its structural needs change. These changes may be triggered by finance raising, admission of additional shareholders, sales, acquisitions flotations or succession needs, and each has tax implications. Understanding and planning for these can help ensure the right amount of tax is paid and the business owners’ and management’s objectives are met.
Our private client team works seamlessly with our colleagues in Transaction Tax and Transaction Advisory Services to deliver a combined service which draws on our diverse cross-border transaction experience and local tax knowledge across a broad spectrum of industries.
We will work with you to identify the priorities for the business, the owners and management, and provide you with structuring options. Our integrated approach means we can offer high-quality, globally coordinated tax advice, wherever your transaction occurs.
Family governance and philanthropy
No one can see into the future. But sometimes you need to take steps to ensure your business can evolve and strengthen; especially if your company is growing quickly and encountering complexity.
Many family companies revolve tightly around the owner – an arrangement which brings complications when a succession is imminent. Choosing a successor from the family is not always possible, and, with an effective continuity plan the family business owner appoints a team with the capabilities and desire to take over running the business, if necessary.
Our extensive experience with family and entrepreneurial businesses means we don’t just develop theoretical approaches – we can also help put them into practice. We will work closely with your family and management team to determine how we can help you prepare for the future.
With 90 years’ experience, we have the credentials to make a real difference to your business and family wealth. Regular training and our global network provide our teams with access to modern tools and international practices. When looking at international issues, our offices in over 150 countries can give you the local support you need.
As an independent advisor, EY can give provide detailed advice on how to influence and regulate your future management structure. You can choose from the following bespoke services:
- Strategic and organisational advisory
- Company and portfolio value assessment
- Mergers and acquisition project management
- Legal due diligence and guidance
- Drafting and negotiating contracts and family charters
- Organisational design processes.
IHT and succession planningy
Our clients all have very different views on succession and the complexity of passing on wealth to the next generation, whether within the family or in a wider business context.
We will work with you to understand your views, concerns, wishes and needs, and work with you to achieve a tax efficient transition between generations, and provide advice and support to ensure the movement of wealth is combined with the skills to manage it.
Succession planning is a key component of strategic planning. Steps to help support a successful transition require a focus on four dimensions: leadership, ownership, legacy, and value and wealth transition. We can help you examine all these areas in in-depth and actionable ways, and chart a definitive – and evolutionary – course for moving forward proactively.
Management incentives and remuneration
We have a highly experienced team offering tax advice on share schemes that help remunerate and incentivise staff tax efficiently.
Our knowledge and experience of finding solutions beneficial for our clients’ businesses and employees, and an understanding of the related implementation process, enables us to provide a service tailored to your individual needs.
Employee share schemes enable employees to share in an organisation’s success. This can help incentivise staff, recruit and retain key personnel, and use available tax reliefs and exemptions.
Our team can advise on whether a company or individuals will qualify for a particular tax advantaged share scheme and help implement an appropriate incentive plan.
Personal trust and tax compliance
Personal and trust taxation has never been so complicated and, following HMRC’s Making Tax Digital initiative, failing to comply with the law could prove costly in more than just monetary terms. There are many new compliance regulations individuals and trusts must meet, and our team of specialists can ensure you meet these both as an individual and for any trusts you may have.
Our team has many years’ experience and is based in multiple locations, so we can provide a service that ensures you are compliant wherever you are.
We can help you with a wide range of issues, from straightforward tax returns and repayment claims, to complex and specialist tax compliance.
Residence, domicile and international tax
With individuals and families ever more globally mobile, our clients need to know they are advised by a team with a deep understanding of issues relating to residence, domicile and operating cross-border. There is no ‘one size fits all’ solution when it comes to international taxation, which is why our global EY network works closely to provide a joined-up solution wherever you are.
Our multi-disciplinary team is experienced at helping navigate the changing international landscape. A client of one EY member firm is a client of all EY member firms worldwide, so we are ideally placed to advise on multi-jurisdictional issues. Our capabilities span the breadth of international personal taxes, from the non-domicile regime and the complexities of acquiring or breaking UK residence, to structuring your wealth and assets in a tax-efficient way both in the UK and overseas.
Risk and controversy
With global tax policy in flux, planning for potential changes in each of their jurisdictions becomes even more important for multinationals. Our global tax policy network has extensive experience helping develop and implement policy initiatives, both as external and internal advisors to governments and companies.
Our global tax controversy network is uniquely positioned to help you and your business prevent, manage and resolve tax controversy issues.
Our services include:
- Pre-filing controversy management and tracking
- Dispute resolution
- Return filing
- Preparing relevant back-up documentation
- Working with you and your business to implement tax controversy management best practices.
We use our global network and first-class technology to help you address risk, improve tax performance, manage controversy better and resolve tax disputes – wherever you do business.
Wealth planning – asset and investment structuring
Our clients’ wealth comes from a variety of sources, and we work with each to structure their wealth and investment assets to achieve their unique needs and goals. We use a variety of different arrangements depending on individual circumstances, but most important is taking time to get to know you and understand your goals and aspirations.
We also work with your other advisors to achieve an end result which is simple, flexible and future-proof, and we manage compliance and relationships with tax authorities in the UK and around the world.
For some of our clients, the size or complexity of their wealth makes a Family Office a suitable option, and, if this the case, we also have a specific offering for this.