About Fox Smith Associates
Personalised Service, Expert Tax Solutions
Tax
Navigating today’s complex and constantly evolving tax landscape is challenging for business owners, property investors, and individuals with significant financial responsibilities. At Fox Smith, we provide cost-effective tax compliance services alongside strategic, holistic tax advice designed to give you complete clarity and confidence. By reviewing your entire financial footprint—not just isolated elements—we help you avoid the pitfalls of a piecemeal approach, which can create unexpected tax consequences for your business, family structure, or long-term wealth strategy.
Inheritance Tax
At Fox Smith, our tax specialists are dual-qualified as Chartered Tax Advisers (CTA) and members of the Society of Trust & Estate Practitioners (STEP)—the leading global accreditation body for professionals supporting families with estate planning, succession, and long-term wealth protection. By working with a CTA and regulated Trust and Estate Practitioner, you benefit from top-tier, highly technical advice tailored to your family’s unique circumstances.
Offshore Trusts
At Fox Smith, we act as trusted tax advisers to a number of major offshore trust companies, particularly those operating in the Channel Islands. Our specialist team provides comprehensive tax advisory services to Settlors, Beneficiaries, and Trustees, ensuring full compliance, strategic planning, and confidence in managing complex offshore trust structures. With increasing scrutiny from HMRC and continued legislative change following the Autumn 2024 Budget, expert guidance is more important than ever.
Non-UK Domiciled Individuals
The Autumn 2024 Budget introduced some of the most significant reforms in recent years for UK-resident, non-UK-domiciled (RND) individuals. With the gradual phasing out of the traditional non-dom regime and changes affecting offshore income, remittances, and excluded property rules, many internationally mobile individuals are now reassessing their tax position. At Fox Smith, we have extensive experience advising RND clients on all aspects of international tax planning, helping them navigate the evolving UK tax landscape with clarity and confidence.
Accounting & Strategy
Partnering with our clients, our accounting solutions begin with the essential day-to-day services that keep your business running smoothly. From bookkeeping and VAT returns to payroll management, we take care of the routine financial tasks that often consume valuable time and resources. Our approach ensures complete accuracy and up-to-date financial information, giving you peace of mind while creating a solid foundation for meaningful financial analysis and strategic business planning.
Tax
Tax
Inheritance Tax
Inheritance Tax
Offshore Trusts
Offshore Trusts
Non-UK Domiciled Individuals
Non-UK Domiciled Individuals
Accounting & Strategy
Accounting & Strategy
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Let’s discuss how our bespoke services can address your unique financial challenges and help you achieve your goals.
Accounting & Strategy
Partnering with our clients our accounting solutions start with the everyday items, bookkeeping, VAT returns and payroll. This approach gives you back valuable time and peace of mind, ensuring that day-to-day figures are accurate and up-to-date, creating a solid foundation for strategic business review.
Adding Strategic Value to Your Business
Accurate, real-time financial data allows our experienced team to add strategic value by offering management insights and fostering discussions that drive efficiency across your business. We support you at every stage of the business life cycle, including:
Tax Strategies: Our experienced, qualified, Chartered Tax Advisers (CTA’s) aim to reduce “tax leakage” from your business, maximising profit and, importantly, preserving wealth
Financial Modelling: By partnering with you, we develop a clear financial roadmap that incorporates growth forecasts, market volatility, sector trends, cash flow projections, and tax timing. This strategic approach enables confident planning for future growth.
Cash Flow: “Cash is King”, our bespoke cash flow analysis provides real-time data to anticipate and avoid short-term cash constraints while preparing for future expenses and investment opportunities
Strategic Business Advisory: Our team has supported numerous clients with projects such as preparing for sale or management buyouts (MBOs), expanding into new markets, and assessing investment opportunities.
Partnering with Fox Smith gives you access to a wealth of expertise dedicated to supporting the ongoing success of your business.
Tax
Navigating the complex, evolving tax landscape can be especially challenging for business owners and individuals managing significant financial responsibilities Fox Smith offers cost-effective tax compliance services alongside holistic tax advice.
By reviewing the entire financial footprint, we provide precise guidance that avoids the risks of a piecemeal approach, which can lead to unintended consequences in other areas of the structure or family.
Our team comprises experienced Chartered Tax Advisers and Trust and Estate Practitioners who stay current with the latest tax legislation. We provide proactive advice within the bounds of tax law, without reliance on any “schemes,” to maximize your wealth and minimize tax exposure.
Corporate Tax
Our expertise includes:
Tax Efficient Investment Structures
Including the creation of groups, reorganisations of existing groups, such as de-mergers, SEIS and EIS applications and valuations.
Renumeration & Team Strategies
Tailored solutions for incentivizing team members through options or shares, including EMI options and growth shares, designed to align with your business goals
Family Investment Company and Property Investment Companies
Strategies for managing the complex taxes associated with these entities, including alphabet shares and ATED
International Expansion
We are able to provide advice for inbound expansion and outbound expansion, leveraging our extensive international network for seamless support across borders
Personal Tax / Property Investors / HMRC Investigations / Crypto & NFTs
Fox Smith’s holistic approach, ensuring seamless collaboration between our corporate and personal tax specialists. All our tax advisory and compliance is performed in the UK by our team of Chartered Tax Advisers cost effectively, maximising tax efficiencies and reducing the chances of an HMRC enquiry due to inaccuracies.
In addition to compliance, some of the areas our team offers expert advice on are as follows:
Property Investors and Tax-Efficient Structures.
Advice on optimal structures and tax efficiencies for property investments. If you’ve participated in schemes like those offered by “Property 118,” we can assist with unwinding these arrangements.
Capital Gains Tax
We offer support on the disposal of assets and identify relevant reliefs to minimise Capital Gains Tax liabilities.
HMRC enquiries
Receiving a notice from HMRC can be stressful. Our team has extensive experience in managing and resolving HMRC inquiries, helping clients navigate the process with confidence
Cryptocurrencies & NFTs
With a solid understanding of these emerging markets, we ensure accurate reporting and compliance, helping you meet international tax obligations for cryptocurrencies and NFTs effectively
Partnering with Fox Smith means gaining a team of tax experts dedicated to optimising your tax position and securing your financial future.
Inheritance Tax / Trust & Estates / Family Wealth Preservation Structuring
Our tax specialists are both Chartered Tax Advisers (CTA) and members of the Society of Trust & Estate Practitioners (STEP), the global accreditation body for professionals helping families with future planning.
By working with a CTA and regulated Trust and Estate Practitioner, you are assured of receiving top-tier advice tailored to your family’s unique needs..
Our team works closely with you to understand your family dynamics, goals, and concerns, crafting tailored strategies that align with your unique needs. During inheritance tax planning, we explore various solutions, including:
Trust Structures discretionary trusts, life interest trusts, Immediate Post-Death Interest (IPDI) trusts, and loan trusts to manage and protect family wealth
Family Investment Companies (FICs)Â Advice on structuring FICs with alphabet shares, freezer shares, flowering shares, and growth shares. For those holding deferred shares, we provide guidance on their efficiency and suitability.
Lifetime Gifting Strategies Support with outright gifts or the use of bare trusts for lifetime gifting. If you’re involved in arrangements like a “School Fees Trust,” we offer reviews and recommendations.
Business Property Relief (BPR) & Agricultural Property Relief (APR): Although reduced in the Autumn 2024 budget, opportunities still exist for tax-efficient use of BPR and APR.
Will Planning, We review existing Wills and assist in creating tax-efficient Wills, ensuring your legacy is preserved in a manner that minimises tax liabilities
Trusts & Estates
Our team serves as both advisors and trustees, where necessary, providing comprehensive support in trust and estate management
Trust Tax and Compliance
We offer a full suite of trust compliance services, including:
- Trust Registration and maintenance with HMRC via the Trust Registration Service
- Preparation of Trust Accounts, detailed preparation of accounts to ensure accuracy and compliance for trustee reporting
- Trust Self-Assessment Tax returns (SA900) including form R185 where required
- Inheritance Tax calculations and IHT100 form submissions including:
- 10 Year Charges
- Entry and Exit Charges
- Assistance with distributions & tax pools, Guidance on managing distributions and tax implications.
- Winding up Trusts where necessary, ensuring compliance and efficiency
Estates Compliance
We recognise that losing a loved one, even when anticipated due to age or illness, is a profoundly distressing experience.
Our team is here to ease the burden by managing Inheritance Tax Returns (IHT 400) and preparing for probate. We offer fixed, competitive fees for this service to help alleviate the stress during this difficult time.
Non-UK Domiciled Individuals
The Autumn 2024 budget has brought significant changes to the tax landscape for UK Resident, Non-UK Domiciled (RND) individuals. At Fox Smith, we have extensive experience advising RNDs on all aspects of international tax.
Remittance Basis of Taxation
Guidance on how to manage income and gains from overseas sources.
Overseas Workday Relief
Strategies to maximise relief for days worked abroad, minimising UK tax liabilities.
Double Taxation Treaties
Advice on leveraging treaties to avoid being taxed twice on the same income.
Tax Credits
Understanding available credits to reduce tax liabilities.
Inheritance Tax Excluded Property
Assistance with structuring assets to benefit from excluded property status under UK Inheritance Tax laws.
In light of the recent budget changes, many RNDs are reassessing their current structures and future planning. Our team is well-versed in these matters and is prepared to offer tailored advice and strategic solutions to navigate the new tax landscape effectively.
Offshore Trusts
Fox Smith serves as tax advisers for several large offshore Trust Companies, primarily based in the Channel Islands. Our team offers comprehensive tax advice and solutions for Settlors, Beneficiaries, and Trustees.
Advice on Settling an Offshore Trust
Guidance for individuals considering the establishment of an offshore trust, addressing key considerations and potential implications.
Analysis of Transfer of Assets Legislation
In-depth analysis to ensure compliance and understanding of the relevant legislation when transferring assets
Income and Gains Maintenance
Advice and support with the calculation and maintenance of relevant income and stockpiled gains
Relevant Property Charges and Non-Resident Capital Gains Tax
Calculation and reporting of relevant property charges and non-resident capital gains tax charges.
Recognising the intricacies of offshore structures, we are aware that historical errors may arise or be uncovered. Fox Smith is equipped to assist with the regulation and rectification of these issues.
The Autumn 2024 budget has also impacted offshore trusts, and our team is equipped to discuss these changes and develop strategic solutions