The burden on taxpayers to deal with an increasingly complex tax system becomes greater year on year. It is vital for taxpayers to meet their obligations, not only to avoid the unwelcome scrutiny of HM Revenue and Customs, but also the increasingly punitive penalties for getting the calculations wrong. Even minor delays in filing can result in significant consequences, making it essential to have the right support in place.

Tailored tax advice delivered with clarity

The Penningtons Manches Cooper personal and trust tax compliance team comprises qualified tax experts with access to one of the largest legal private client teams in the country. Our team assists resident, non-resident or non-domiciled individual and trustee clients to fully comply with their tax obligations and gives them the reassurance that their tax position is returned to HMRC promptly and accurately. We work closely with clients to ensure that all relevant information is captured and submitted correctly.

An absolutely first-rate firm with excellent private client practitioners.

Chambers UK

In addition to regular annual tax compliance, Penningtons Manches Cooper provides an expert service to individuals and trustees who require negotiation with HMRC. Due to the often-complex nature of the taxation of individuals, trustees or beneficiaries, taxpayers often find that they have not paid the right amount of tax in previous years. The personal and trust tax compliance team can help alleviate clients’ concern by computing the historic tax calculations and negotiating a beneficial settlement with HMRC.

The team is committed to providing excellent advice with proper consideration given to all available tax reliefs. We ensure that the right amounts of tax are paid and, where possible, produce substantial savings for our clients.

How we help our clients

Individual and trustee tax return

Compliance with tax legislation

Tax reliefs

Trustee inheritance tax filing requirements

Historic tax accounting

Remittance basis user tax calculations

Recent work highlights

Liechtenstein Disclosure Facility settlement

Negotiating settlement of historic liabilities with HMRC using the Liechtenstein Disclosure Facility for a non-domiciled remittance basis user by preparing complex mixed account calculations across a number of investment and currency accounts.

Discounted valuations for property

Preparing inheritance tax calculations and IHT100 series tax return for an accumulation and maintenance type trust of multiple funds, securing relief on property held by the trustees, and negotiating favourable discounted valuations on their chargeable property.

Entrepreneurs’ Relief claim

Assisting an individual family business client in claiming Entrepreneurs’ Relief on the sale of part of his shareholding, and then providing effective succession planning to mitigate capital taxes for his family in the future.

UHNW family advice

Acting as a trusted advisor to an UHNW family, including in the administration of the estate and the evolution of numerous trusts, and providing detailed ongoing compliance and tax advice to the executors and trustees.

International high net worth family

Advising on UK tax implications for restructuring US investments, ensuring compliance for offshore entities with US tax laws, and arranging offshore asset transfers, while collaborating with other advisors to maintain compliance and communicate with HMRC.

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