Private wealth and tax planning for high net worth individuals

With one of the largest legal private client teams in the UK, we have been advising clients for generations at Penningtons Manches Cooper. Our strength of understanding arises from a long history of working with individuals and their families, who are generating, maintaining or passing on their wealth.

Personal wealth planning advice

Our established team offers strength in depth from locations inside and outside of London, and acts for a broad range of clients from diverse walks of life, such as landowners, entrepreneurs, and families and their businesses, together with individuals from the UK and overseas.

We assist with planning for lifetime tax issues such as income tax and capital gains tax, asset protection, succession issues when passing wealth on to the next generation (particularly inheritance tax and gifting), and pre-empting and preventing family conflict, as well as the day-to-day trials and tribulations of life.

The team comprises lawyers who are full members of the Society of Trust and Estate Practitioners (STEP) or are studying to become so. We offer the most up-to-date knowledge of the latest tax reliefs, planning and methodologies available so that clients are always assured of the best advice available.

They are extremely impressive and I feel very confident working with them.

Every client receives a highly personal service to reflect their unique circumstances and we work closely with you to deliver pragmatic and flexible guidance on mitigating tax liabilities and maximising opportunities for tax relief. We do not believe in schemes, but take a bespoke approach to resolve your tax, inheritance and succession issues and help you achieve your objectives in a cost-effective manner.

How we help our clients

Asset protection

Guidance on dealing with HMRC

Income tax and capital gains tax

Inheritance tax

Succession planning

Tax planning

Tax exemptions for works of art and heritage property

Well regarded for its private wealth expertise. The team regularly advises wealthy individuals, families and entrepreneurs on domicile issues, trust and estate administration and succession planning.

They’re my go to people in terms of UK structuring advice. As a firm, they seem very open and very collegiate about what they do and they’re very responsive as well.

Penningtons provided excellent service throughout the matter, with prompt and courteous responses that were always clear and easy to understand.

Recent work highlights

UK landed estate

Advising trustees of a UK landed estate on tax and other issues arising from the residence of beneficiaries and trustees outside the UK.

UK property interests

Working with a Nigerian client on the structuring of UK property interests through offshore entities, with the aim of achieving asset protection and creating a succession plan.

UHNWI residence issues

Assisting an ultra high net worth individual with UK domestic tax law residence issues, including advice on the Statutory Residence Test and its implications.

Landed estate advice

Representing siblings who own a landed estate with a farming business held outright and through a trust, ensuring a substantial portion of the farmland and buildings are structured for the next generation without disrupting current operations or income.

Complex international estate

Advising the trustees of Swiss family trusts with a non-UK-domiciled HNW individual on the assets of the trust and estate, including real estate located across the UK, Italy, Cayman Islands, British Virgin Islands, and Switzerland.

Long term family support

Acting for a high net worth family for many years in relation to its business and personal estate planning matters, and now acting for the executors of the estate, assisting in its administration.

Family with international businesses

Providing guidance to a family with members in the UK, India and Sri Lanka on its global wealth structuring, succession, and asset protection, and the family philanthropic foundations.

Family with international businesses

Providing guidance to a family with members in the UK, India and Sri Lanka on its global wealth structuring, succession, and asset protection, and the family philanthropic foundations.