The tax landscape for high net worth individuals in the UK has undergone its most significant upheaval in decades. The abolition of the non-dom remittance basis, sweeping changes to Inheritance Tax, rising Capital Gains Tax rates, frozen personal allowance thresholds, and the increasing scrutiny HMRC applies to affluent individuals mean that the cost of generic accountancy advice has never been higher.
Consultax are specialist high net worth accountants and private client accountants who provide the proactive, expert guidance that significant personal wealth requires. We understand the full complexity of a high net worth individual's financial life and we ensure your wealth is structured, protected, and managed as efficiently as the law allows.
Reliable, proactive, and results-driven, we apply the same level of dedication to your success that you bring to your business every day.
We go beyond the numbers to offer guidance that’s tailored, and built for growth.
Your goals matter, so we deliver attentive, custom support designed to guide you towards lasting success.
We prioritise clear communication, accounting support you can understand and rely on.
Consultax works with high net worth individuals, ultra high net worth individuals, and privately wealthy families at every stage of their financial life. Whether your wealth comes from a business exit, investment portfolios, property, professional earnings, or inherited assets. Your tax position demands specialist knowledge, not a standard approach.
As dedicated and specialist accountants for high net worth individuals, we work with:
High Net Worth Individuals
Those with net liquid assets above £2 million or annual income exceeding £200,000 face enhanced HMRC scrutiny and distinct tax obligations. As experienced accountants for high net worth, we manage your self-assessment, tax planning, investment income reporting, and overall tax position with the care and precision this demands.
Ultra High Net Worth Individuals
For those with assets above £10 million, the complexity increases significantly, offshore structures, family investment companies, multiple jurisdictions, and large estate planning considerations all require specialist handling. As accountants for ultra high net worth individuals, we provide the senior-level advisory input that your financial profile requires.
Business Owners & Entrepreneurs
Founders and shareholders managing post-exit wealth, ongoing business income, and complex personal financial structures require an adviser who understands both sides of the equation, the business and the individual. We work with business owners on exit tax planning, Business Asset Disposal Relief, investment structuring, and long-term wealth management.
Executives & Senior Professionals
High-earning professionals with employment income, equity compensation, share options, bonuses, and investment portfolios require careful management of their personal tax position to avoid the erosion of the personal allowance, manage higher-rate exposures, and maximise available reliefs.
Non-Domiciled Individuals & Internationally Mobile Clients
From April 2025, the UK's non-dom remittance basis was abolished and replaced with the new Foreign Income and Gains (FIG) regime. For affected individuals, navigating the transition, the Temporary Repatriation Facility, CGT rebasing opportunities, and the new residence-based Inheritance Tax system requires specialist advice. We provide it.
Property-Wealthy Individuals
Those with significant UK and overseas property portfolios face specific CGT, SDLT, and Inheritance Tax considerations. We act as specialist accountants for affluent individuals with property wealth; managing Capital Gains Tax on disposals, optimising ownership structures, and advising on the IHT treatment of property assets.
Trustees & Beneficiaries
Trust structures carry specific income tax, CGT, and Inheritance Tax reporting obligations. Following the post-April 2025 changes affecting offshore trusts and the removal of protection for non-dom settlors outside the FIG regime, professional trust accounting is more important than ever.
Private Clients in the UAE
As a practice serving both UK and UAE clients, we advise wealthy UAE-based individuals on UK tax obligations, UK property income, the statutory residence test, and the implications of UK visits on their residency position.
The past two years have delivered the most significant changes to private client taxation in a generation. For high net worth individuals, the combined effect of these changes has fundamentally altered what is required of a tax adviser and the cost of working with one who is not fully up to date.
Here is what has changed and why it matters to your financial position:
The End of the Non-Dom Remittance Basis (April 2025)
From 6 April 2025, the long-standing remittance basis of taxation was abolished. UK resident individuals are now taxed on worldwide income and gains as they arise, regardless of domicile. The only relief is the new four-year Foreign Income and Gains (FIG) regime, which applies exclusively to individuals who have been non-UK resident for at least ten consecutive tax years before arriving in the UK. During those four years, foreign income and gains are exempt from UK tax and can be freely remitted.
For individuals who were previously on the remittance basis and do not qualify for the FIG regime, a Temporary Repatriation Facility (TRF) is available, allowing previously sheltered foreign income and gains to be remitted at a flat rate of 12 per cent in 2025-26 and 2026-27, rising to 15 per cent in 2027-28. This window is closing, and taking advantage of it requires prompt, well-advised action.
Capital Gains Tax Rate Increases
From 30 October 2024, the main rates of Capital Gains Tax increased from 10 per cent to 18 per cent for basic rate taxpayers and from 20 per cent to 24 per cent for higher rate taxpayers. Residential property CGT rates remain at 18 per cent and 24 per cent. For high net worth individuals with investment portfolios, business interests, and property assets, these increased rates significantly alter the tax cost of disposals and the timing decisions around realising gains.
Inheritance Tax : A Residence-Based System
From 6 April 2025, UK Inheritance Tax moved from a domicile-based to a residence-based system. Previously, non-UK domiciled individuals could exclude non-UK assets from their UK IHT estate. Now, individuals who have been UK resident for ten or more years are classified as Long-Term Residents and their worldwide assets fall within the scope of UK IHT at 40 per cent. Critically, a ten-year tail applies after leaving the UK that means long-term UK residents who depart retain a full UK IHT exposure for a decade after their departure.
APR and BPR Reformed (April 2026)
Agricultural Property Relief and Business Property Relief: two of the most widely used IHT mitigation tools available to wealthy individuals have been significantly curtailed from April 2026. The previous 100 per cent relief is now capped at £1 million of qualifying assets across both reliefs combined. Above this threshold, relief is limited to 50 per cent. For business owners, farmers, and investors who had structured their estates around these reliefs, the impact is substantial and urgent review is required.
Frozen Thresholds and the Personal Allowance Trap
Income tax thresholds remain frozen until 2030, meaning fiscal drag is pushing more individuals into higher and additional rate tax bands each year. For those earning above £100,000, the personal allowance tapers by £1 for every £2 of income above that level - disappearing entirely at £125,140. For high earners, the effective tax rate between £100,000 and £125,140 is 60 per cent. This is one of the most effective and legally straightforward areas of tax planning for high income accountants to address and one of the most commonly neglected.
HMRC's Increasing Focus on Wealthy Individuals
HMRC dedicates a specific team to individuals with net worth above £2 million or annual income above £200,000. Known as the Customer Compliance Manager framework for high net worth taxpayers, this means your tax affairs are under a level of scrutiny that most advisers are not equipped to anticipate or manage. A specialist high net worth tax adviser UK who understands how HMRC approaches wealthy individuals is not a luxury but it is a necessity.
Consultax monitors all of these developments continuously and advises you on their implications for your specific financial position, in advance, not after the fact.
Every service we provide is tailored to the specific financial complexity that significant personal wealth creates not adapted from a standard individual tax service.
Personal Tax Planning for High Net Worth Individuals
Effective tax planning for high net worth individuals requires a structured, year-round approach, not a reactive review in January. As your dedicated specialist high net worth accountant and high net worth tax adviser UK, we review your income sources, investment position, pension arrangements, business interests, and estate structure to identify and implement legitimate tax savings across every area of your financial life.
This includes management of the £100,000 personal allowance trap, pension contribution strategies to reduce adjusted net income, timing of capital gains and disposals, use of annual exemptions and allowances, and the co-ordination of tax planning across your personal and business finances.
Best for: High-earning individuals, business owners managing personal and business finances simultaneously, and those whose income and asset base has grown to the point where ad hoc tax advice is no longer sufficient.
Self-Assessment Tax Returns for High Net Worth Individuals
A high net worth individual's self-assessment return is rarely straightforward. Employment income, dividends, interest, rental income, overseas income, trust distributions, capital gains across multiple assets, and pension contributions all need to be reported accurately and within deadline; with supporting evidence available in the event of HMRC enquiry.
As specialist accountants for wealthy individuals with deep experience of complex self-assessment returns, we prepare your return from a thorough review of all income sources, apply every available relief, and ensure your filing position is consistent with your wider tax planning strategy.
Best for: Any high net worth individual with income from multiple sources, overseas assets or income, complex investment portfolios, or previous experience of HMRC enquiry.
Inheritance Tax Planning & Estate Structuring
Inheritance Tax is one of the most significant and most avoidable tax costs for high net worth individuals but only with proper planning, implemented at the right time. As specialist private wealth accountants and accountants for high net worth individuals, we review your estate structure, asset ownership, existing gifts, trust arrangements, and life assurance position to develop and implement an IHT strategy that protects wealth for future generations.
Following the April 2026 changes to Agricultural Property Relief and Business Property Relief, and the shift to a residence-based IHT system from April 2025, many individuals whose estates were previously structured around these reliefs now require urgent reassessment. We advise on gifting strategies, trust structuring, family investment companies, life assurance in trust, and the timing of disposals to manage IHT exposure effectively.
Best for: Individuals with estates above the nil-rate band, those holding business or agricultural assets previously covered by APR or BPR, and anyone who has not reviewed their estate planning position since the 2025 and 2026 legislative changes.
Capital Gains Tax Advice & Planning
With CGT rates increased to 18 per cent and 24 per cent for most assets, the tax cost of realising gains has risen significantly for high net worth individuals. Strategic CGT planning: covering timing of disposals, use of annual exemptions, spousal transfers, Business Asset Disposal Relief, and investment structure can make a material difference to the after-tax proceeds of a sale.
As specialist accountants for high net worth with deep experience in CGT planning and reporting, we advise on pre-disposal structuring, the interaction of CGT with IHT on estate assets, the 60-day reporting obligation for UK residential property, and the treatment of overseas gains following the abolition of the remittance basis.
Best for: Individuals planning to sell business assets, property, or investments; those with overseas assets who need advice on CGT following the non-dom reform; and those who have recently disposed of assets and need accurate, timely reporting.
Non-Dom & International Tax Advice
The abolition of the remittance basis from 6 April 2025 and the introduction of the Foreign Income and Gains regime have created both urgent compliance requirements and time-limited planning opportunities for internationally mobile individuals.
As specialist advisers on the new FIG regime, we advise on FIG regime eligibility under the Statutory Residence Test, claim optimisation for those in the four-year window, the Temporary Repatriation Facility (TRF) at 12 per cent and 15 per cent, CGT rebasing of pre-2017 foreign assets, mixed fund review and restructuring, the new residence-based IHT system and its ten-year tail, and the implications of the UK Statutory Residence Test for internationally mobile clients.
This is one of the most technically demanding areas of UK private client tax - and one where the cost of imprecise advice is extremely high.
Best for: Non-UK domiciled individuals resident in the UK, those who were previously on the remittance basis and need to navigate the transition, internationally mobile individuals with foreign income and offshore assets, and UAE-based individuals with UK ties.
Trust Accounting & Tax Compliance
Trusts remain an important tool for wealth structuring, IHT planning, and asset protection but the tax compliance obligations of trustees and beneficiaries have become considerably more complex following the post-April 2025 reforms. Offshore trusts previously used to protect foreign income from UK taxation no longer have the same protection for non-FIG-regime individuals.
As experienced private wealth accountants with specialist trust knowledge, we provide trust accounts preparation, trustee tax returns, beneficiary income and CGT reporting, and strategic advice on trust structures in the context of the new residence-based IHT regime and the post-2025 changes to offshore trust taxation.
Best for: Trustees of UK and offshore trusts, beneficiaries of discretionary trusts, and individuals reviewing whether existing trust structures remain fit for purpose following the 2025 legislative changes.
Family Investment Companies & Business Succession
A Family Investment Company (FIC) can provide a highly effective structure for accumulating and passing on wealth within a family group; combining Corporation Tax on investment returns, controlled distribution through share classes, and long-term IHT planning. As specialist accountants for affluent individuals with experience in FIC structuring, we advise on establishment, share class design, ongoing accounts and tax compliance, and the interaction with IHT planning.
For business owners approaching a sale or succession, we provide specialist advice on Business Asset Disposal Relief eligibility, Entrepreneurs' Relief historical positions, hold-over relief on gifts of business assets, and the overall sequencing of a business exit to minimise tax across every stage.
Best for: Wealthy families looking to accumulate and pass on investment wealth tax-efficiently, business owners planning their exit, and those seeking to establish or review a family investment company structure.
HMRC Enquiry Support & Compliance Reviews
High net worth individuals are subject to a dedicated HMRC scrutiny framework. If you have received correspondence from HMRC, are concerned about the completeness of prior-year returns, or want a proactive review of your compliance position before HMRC raises a question, we provide specialist support.
We review your historical filing position, identify any areas of potential exposure, prepare voluntary disclosures where appropriate, and manage HMRC enquiries with a structured, evidence-based approach that protects your position at every stage.
Best for: Those who have received HMRC enquiry letters or information notices, individuals with complex prior-year positions that have not been professionally reviewed, and anyone seeking confidence that their filing history is robust.
We are not a generalist practice that occasionally handles a wealthy client's affairs. Consultax are specialist high net worth accountants and private client accountants who bring genuine senior-level expertise, ICAEW accreditation, complete discretion, and a proactive year-round approach to the management of significant personal wealth. We are the best high net worth accountants UK clients return to because we deliver outcomes not just compliance.
Led by a PwC-Trained Chartered Accountant
Varun Gupta, our founder, brings over 17 years of experience across private equity, complex international tax structures, specialist advisory, and private client work. When you engage Consultax, you receive the benefit of that experience directly - not through a chain of junior staff.
ICAEW Chartered Accountants
We are fully accredited Chartered Accountants regulated by the ICAEW. Every recommendation we make carries the weight of genuine professional qualification, accountability, and current knowledge of UK private client tax law.
Absolute Discretion
Our high net worth clients require, above all else, complete confidentiality. We treat every client engagement with the same discretion we would apply to our own affairs. Your financial position, your family circumstances, and your planning strategies remain entirely private.
Proactive, Year-Round Advice
The value of specialist private client advice is not delivered once a year at self-assessment time. We review your position throughout the year; monitoring legislative changes, advising on emerging planning opportunities, flagging potential HMRC exposure, and ensuring decisions are made with full tax awareness rather than after the fact.
Current on Every Legislative Change
The 2025 and 2026 legislative changes affecting high net worth individuals are the most significant in a generation. We track every development, translate its implications for your specific position, and act on your behalf; so you are never caught off guard by a change in the law.
UK & UAE Coverage
We serve high net worth individuals and private clients based in the UK and UAE. Whether you are a UK resident managing domestic and international wealth, a UAE-based individual with UK financial ties, or an internationally mobile client navigating the Statutory Residence Test, we have the cross-border knowledge to advise correctly.
5-Star Rated on Feefo
Our clients rate us 5 stars on Feefo. We are proud of that record and we work hard to earn it with every engagement.
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Frequently Asked Questions
HMRC defines a high net worth individual as someone with net liquid assets of at least £2 million or annual income of at least £200,000. Individuals who meet these criteria are assigned to a dedicated HMRC Customer Compliance Manager team, which means their tax affairs are subject to a higher level of scrutiny than those of standard taxpayers. Working with a specialist high net worth accountant who understands how this team operates is therefore essential - not optional.
From 6 April 2025, UK residents are taxed on worldwide income and gains as they arise, regardless of their domicile. The Temporary Repatriation Facility allows previously sheltered foreign income and gains to be remitted at 12 per cent in 2025-26 and 2026-27, rising to 15 per cent in 2027-28. The FIG regime provides a four-year exemption for qualifying new arrivals. The practical implications for any individual who was previously on the remittance basis and the planning opportunities available during the TRF window: are highly specific to each person's circumstances. We advise on this as a matter of priority for any affected client.
The main CGT rates increased to 18 per cent (basic rate) and 24 per cent (higher rate) from 30 October 2024. Residential property rates remain at 18 per cent and 24 per cent. This increase in rates, combined with frozen thresholds and the abolition of the remittance basis, significantly increases the tax cost of asset disposals for high net worth individuals. Careful timing of disposals, use of annual exemptions, spousal transfers, and Business Asset Disposal Relief can all materially reduce the liability but need to be planned in advance of any sale.
UK Inheritance Tax moved to a residence-based system from 6 April 2025, meaning Long-Term UK Residents ; those resident for ten or more years now have their worldwide assets subject to IHT at 40 per cent. A ten-year tail applies after leaving the UK. Additionally, Agricultural Property Relief and Business Property Relief are now capped at £1 million of qualifying assets combined from April 2026, with only 50 per cent relief above this level. If your estate was previously structured around these reliefs, an immediate review of your IHT position is strongly advisable.
For individuals earning between £100,000 and £125,140, the personal allowance of £12,570 is tapered at £1 for every £2 of income above £100,000, creating an effective marginal tax rate of 60 per cent in this band. Pension contributions, charitable giving, and careful management of income timing can reduce adjusted net income below £100,000, restoring the full personal allowance and eliminating the 60 per cent effective rate. This is one of the most straightforward and impactful areas of tax planning for high net worth individuals and one we address proactively for every relevant client.
The tax environment for high net worth individuals in the UK is more demanding, more complex, and more consequential than at any point in recent memory. The abolished remittance basis, the new FIG regime, rising CGT rates, reformed IHT rules, restricted APR and BPR, and HMRC's dedicated scrutiny of wealthy taxpayers all demand specialist private client advice not a generalist who will catch up with the legislation eventually.
Consultax are specialist high net worth accountants and private wealth accountants who provide the senior-level expertise, proactive year-round guidance, and complete confidentiality that significant personal wealth demands. From tax planning for high net worth individuals and estate structuring to CGT advice, non-dom FIG regime planning, trust compliance, and HMRC enquiry support - we handle every element of your private financial life in one place.