Strategy Case Study

The client had inherited wealth which due to previous mis-management of funds by the bank had been “tainted” for tax purposes.

This means the original inheritance had been held in an account which also received income and proceeds from disposals of shares. Total Tax Group provided the following:

Introductions to Schroders (Switzerland), Mirabaud (Switzerland), HSBC (Luxemburg) and UBS (Luxemburg).

Review of each bank’s account mandating systems to ensure separation of accounts.

Assistance to bank of choice in ensuring ongoing separation of income and proceeds of sales of assets.

Ongoing day-to-day advice whenever an asset bought or sold.

Set up of bespoke spreadsheet analysis of previous “tainted” funds to ensure correct disclosure made to HMRC on remitted or deemed remitted income and gains each tax year.

The client has complete peace of mind that the bank and Total Tax Group are in constant communication, that the assets are held in the most tax efficient manner and that HMRC declarations are accurate.

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