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. As experienced accountants for high net worth, we manage your self-assessment, tax planning, investment income reporting, and overall tax position with care and precision.
Ultra High Net Worth Individuals
For those with assets above £10 million, offshore structures, family investment companies, multiple jurisdictions, and large estate planning all require specialist handling. As accountants for ultra high net worth individuals, we provide the senior-level advisory input your profile requires.
Business Owners & Entrepreneurs
Founders and shareholders managing post-exit wealth, ongoing business income, and complex personal structures need an adviser who understands both the business and the individual. We advise 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 to avoid personal allowance erosion, manage higher-rate exposures, and maximise available reliefs.
Non-Domiciled & Internationally Mobile Clients
From April 2025, the UK's non-dom remittance basis was abolished and replaced with the Foreign Income and Gains (FIG) regime. Navigating the transition, Temporary Repatriation Facility, CGT rebasing, and residence-based Inheritance Tax 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 disposals, ownership structures, and IHT treatment of property assets.
Trustees & Beneficiaries
Trust structures carry specific income tax, CGT, and Inheritance Tax reporting obligations. Following post-April 2025 changes affecting offshore trusts and 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 remittance basis was abolished. UK residents are now taxed on worldwide income and gains as they arise. The four-year FIG regime and Temporary Repatriation Facility (12% then 15%) create time-limited planning opportunities that require prompt, well-advised action.
Capital Gains Tax Rate Increases
From 30 October 2024, main CGT rates rose to 18% (basic) and 24% (higher). Residential property rates remain at 18% and 24%. For high net worth individuals with portfolios, business interests, and property, these rates significantly alter the tax cost of disposals and timing decisions.
Inheritance Tax — A Residence-Based System
From 6 April 2025, UK IHT moved to a residence-based system. Long-Term Residents (10+ years UK resident) have worldwide assets within UK IHT at 40%. A ten-year tail applies after leaving the UK — long-term residents retain full UK IHT exposure for a decade after departure.
APR and BPR Reformed (April 2026)
Agricultural Property Relief and Business Property Relief are now capped at £1 million of qualifying assets combined from April 2026. Above this, relief is limited to 50%. For business owners, farmers, and investors structured around these reliefs, urgent review is required.
Frozen Thresholds & the Personal Allowance Trap
Income tax thresholds remain frozen until 2030. Between £100,000 and £125,140, the personal allowance tapers — creating an effective 60% tax rate. This is one of the most effective areas of tax planning for high income accountants to address, and one of the most commonly neglected.
HMRC's Focus on Wealthy Individuals
HMRC dedicates a Customer Compliance Manager framework to individuals with net worth above £2 million or income above £200,000. A specialist high net worth tax adviser UK who understands how HMRC approaches wealthy individuals is not a luxury — 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
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 legitimate tax savings. This includes the £100,000 personal allowance trap, pension strategies, timing of capital gains, and co-ordination across personal and business finances. See our tax planning services.
Best for: High-earning individuals, business owners managing personal and business finances simultaneously, and those whose income and asset base has outgrown ad hoc tax advice.
Self-Assessment Tax Returns for High Net Worth Individuals
As specialist accountants for wealthy individuals, we prepare your self-assessment return from a thorough review of employment income, dividends, interest, rental income, overseas income, trust distributions, capital gains, and pension contributions — ensuring your filing aligns with your wider tax planning strategy.
Best for: Any high net worth individual with income from multiple sources, overseas assets, complex investment portfolios, or previous HMRC enquiry experience.
Inheritance Tax Planning & Estate Structuring
As specialist private wealth accountants, we review your estate structure, asset ownership, gifts, trusts, and life assurance to develop an IHT strategy that protects wealth for future generations. Following April 2025–2026 changes to residence-based IHT, APR, and BPR, many estates now require urgent reassessment.
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 estate planning since the 2025 and 2026 changes.
Capital Gains Tax Advice & Planning
With CGT rates at 18% and 24%, strategic planning — timing of disposals, annual exemptions, spousal transfers, Business Asset Disposal Relief, and investment structure — can make a material difference. We also advise on the 60-day reporting obligation for UK residential property and overseas gains following remittance basis abolition.
Best for: Individuals planning to sell business assets, property, or investments; those with overseas assets needing CGT advice post non-dom reform; and those needing accurate, timely disposal reporting.
Non-Dom & International Tax Advice
We advise on FIG regime eligibility under the Statutory Residence Test, Temporary Repatriation Facility optimisation, CGT rebasing of pre-2017 foreign assets, mixed fund review, the residence-based IHT system and its ten-year tail, and UK residency implications for internationally mobile clients. This is one of the most technically demanding areas of UK private client tax.
Best for: Non-UK domiciled individuals resident in the UK, those previously on the remittance basis, internationally mobile individuals with foreign income, and UAE-based individuals with UK ties.
Trust Accounting & Tax Compliance
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 post-2025 offshore trust changes.
Best for: Trustees of UK and offshore trusts, beneficiaries of discretionary trusts, and individuals reviewing whether existing trust structures remain fit for purpose after the 2025 reforms.
Family Investment Companies & Business Succession
As specialist accountants for affluent individuals with FIC experience, we advise on establishment, share class design, ongoing accounts and tax compliance, and IHT interaction. For business exits, we advise on Business Asset Disposal Relief, hold-over relief, and sequencing 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.
HMRC Enquiry Support & Compliance Reviews
High net worth individuals are subject to a dedicated HMRC scrutiny framework. We review your historical filing position, identify potential exposure, prepare voluntary disclosures where appropriate, and manage HMRC enquiries with a structured, evidence-based approach.
Best for: Those who have received HMRC enquiry letters or information notices, individuals with complex prior-year positions, and anyone seeking confidence that their filing history is robust.
Why Consultax
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 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 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 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 engagement with the same discretion we would apply to our own affairs. Your financial position, family circumstances, and 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 planning opportunities, and flagging potential HMRC exposure.
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.
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 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, 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.
Your goals. Our focus. Accounting with purpose.
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