Private Client Tax Services

Private Client Tax Services

For private clients, the need for specialist tax advice has never been greater. Legislation is becoming more complex, tax authorities have tightened their approach and attitude to tax planning and there is an increased risk of investigation.

We provide clients with the advice that ensures they are operating well within the rules, whilst making their wealth work in a way that suits their needs. We work with a wide range of clients in this area, from start-up entrepreneurs, established business owners to wealthy families who are seeking an adviser to help them structure their affairs in an efficient and compliant manner. We also provide assistance to advisers to private clients, working with solicitors, banks and trust companies.

We listen to the specific needs of our clients and work to deliver exceptional service through practical, bespoke advice, tailored to an individual’s priorities.

BDO Northern Irelands approach is to bring our advice to life. We advise our clients on what to do, rather than ‘what we know’, assisting them and their teams of professional advisers to implement our advice.

Our dedicated Private Client Tax team provides a full range of tax services, including:

Inheritance tax & succession planning
Prudent individuals will not only wish to grow the value of their assets during their lifetime but may also wish to preserve wealth for the next generation. Various structures may be considered by the family, including family trusts, partnerships and companies. We can also advise on the tax efficiency of Wills.

Family Trust services
Trusts are an integral part of a family's overall tax planning strategy and we are able to advise on all aspects of setting up, administering and, where necessary, the winding up of trusts. Despite recent tax changes, trusts can still offer families an effective means of passing wealth down the generations whilst providing protection from marital breakdown, family disputes, bankruptcy and "wayward" beneficiaries. 

At BDO Northern Ireland, we have a dedicated team of qualified trust professionals, including members of the Society for Trust & Estate Practitioners (STEP), who have excellent relationships with private client solicitors and trust companies.

We prepare annual trust accounts, trust tax returns, beneficiaries tax certificates and deal with the general trust compliance for UK and non-UK resident trusts.

Tax Residency & Domicile issues
Our team looks after the tax affairs of individuals with multi-jurisdictional assets and interests. We have a particular expertise advising on the structuring of wealth under the UK remittance basis and advising non UK domiciles living in the UK, offshore trustees and directors. We work with these clients to understand their requirements from a business, personal and family perspective. 

As part of the world’s fifth largest accounting network, we are able to utilise our global reach and local knowledge in the advice we provide to our private clients. Personal tax is an integral part of any tax system in the world, and private client services are an integral part of BDO’s global service.

Tax compliance
Self-assessment does not apply to the majority of people who pay tax through the PAYE system. It can apply, however, if you are self-employed, a company director; a trustee or personal representative. Failure to meet your self-assessment obligations can result in significant interest and penalties. Our personal tax specialists can help you complete your tax return in a timely manner, calculate your tax liability and advise you on tax payments due.

We also provide compliance services to clients in relation to VAT, PAYE and the Construction Industry Scheme.

HMRC Enquiries
Our experience in the field of tax investigations ranges between Code of Practice 9 enquiries, routine tax enquiries, tax disputes and conflicts with HM Revenue and Customs both locally in the Northern Ireland market and internationally.

Understanding the importance of creating and maintaining channels of communication, we ensure that our client has a clear understanding of their tax investigation.

BDO Northern Ireland act as the first line of defence between our client and the HMRC Inspector, allowing our clients to focus on what is important to them – their business and their daily lives. We have a strong history of negotiation with HMRC ensuring we get the best outcome for our client with reduced penalties and settlements.

Our tax investigations team’s wealth of experience includes dealing with all aspects of tax investigations in corporate tax, personal tax, offshore trusts, PAYE, residence and domicile issues and voluntary disclosures.

Tax efficient structuring of business ventures, wealth and assets
Whether you are looking to purchase or start up a business or invest in residential / commercial property, our team can identify appropriate structures, using partnerships, corporate vehicles and trusts.