James is a Partner in the Tax & Trusts and Wills & Estates teams.
He provides inter-generational Inheritance tax and Capital tax planning for private family estates and entrepreneurs with assets based in the UK and offshore. He advises clients on the establishment of various trusts including acting as and advising trustees as to their roles duties and obligations. He prepares tax efficient Wills to mitigate tax and protect family wealth across generations, assists with the administration of the estate and Deeds of Variation. James also advises clients on Domicile issues where one Spouse is UK Domiciled and the other non-domiciled for IHT purposes.
James’ clients include private individuals, business owners, sports personalities and owners of landed estates.
Recent examples of how James has supported clients include:
- Advising a long standing client on the administration of a complex estate. This included liaising with accountants and HMRC on a ‘double dip’ inheritance tax planning exercise undertaken following the death of the first spouse regarding the availability of Business Relief on private company shares/other qualifying investments. Our arguments were accepted resulting in no Inheritance tax being payable by the estate;
- Providing advice to the trustees of various lifetime settlements (Discretionary and Interest in Possession) established by the Deceased and late spouse and how these interact with the Deceased’s estate for tax purposes. Also, advising the beneficiaries about their individual longer-term Inheritance tax and capital tax planning needs;
- Providing lifetime trust planning, Inheritance tax planning (including Business Relief and Agricultural Relief and lifetime gifting), Capital tax planning and longer-term succession planning for a highly successful entrepreneur, his partner and children on their £30 million estate; and
- Advising a Landed family requiring multigenerational inheritance and capital gains tax planning and reviewing a significant number of lifetime trusts.