Tax for Private Clients

You may need to file a Self-Assessment tax return if you have income or gains that HMRC does not collect through PAYE.  

Common examples include rental income, self-employment income, foreign income, Trust income and Capital Gains Tax arising on the sale of assets. Even if no tax is ultimately payable, certain types of income and gains may still need to be reported to HMRC. 

Crowe UK’s Tax for Private Clients team can help ensure your reporting obligations are met accurately and efficiently, while identifying any available tax planning opportunities.  

If you are a UK tax resident, overseas income may be taxable in the UK, even if tax has already been paid in another country.  

This can include foreign rental income, overseas pensions, employment income, bank interest and investment income. In many cases, double taxation relief may be available to prevent the same income being taxed twice, but the income will usually still need to be reported.  

Specialist advice can help internationally mobile individuals and families understand their UK tax position and overseas reporting. Our team advises on overseas tax issues, including residence, domicile, cross-border tax planning and international reporting requirements. 

Moving to or from the UK can affect your tax residence status, which helps determine how your income and capital gains are taxed.  

The timing of your move can significantly affect your UK tax position, particularly where employment income, overseas assets, share portfolios or business interests are involved. In some cases, special rules apply to split a tax year between UK and overseas residence.  

Early planning can help reduce the risk of unexpected tax liabilities and ensure your reporting obligations are clear. At Crowe UK, our specialists regularly advise individuals moving to or investing in the UK, where tax residence and reporting obligations often require careful planning. 

Rental profits are generally subject to Income Tax and must be reported on a Self-Assessment tax return. Tax is usually paid on the profit after deducting allowable expenses, rather than just on the gross rental income itself. Additional tax considerations can arise if the property is overseas, jointly owned, sold in the future or held through a company.  

Getting advice early can help you understand your tax position when owning, letting or disposing of residential and investment property on UK and overseas property.  

Capital Gains Tax may be due when you sell, gift or otherwise dispose of an asset that has increased in value. Capital Gains Tax can apply to assets such as property, shares, investment portfolios, business interests and cryptoassets. The taxable gain is generally based on the disposal proceeds less the original acquisition cost and certain allowable costs.  

If you are unsure whether a disposal needs to be reported, Crowe UK's Tax for Private Clients specialists can help assess your reporting obligations and identify any available reliefs.  

Selling a business often involves Capital Gains Tax, but other taxes may also need to be considered depending on the structure of the transaction. The position can differ significantly depending on whether you are selling shares or assets, and whether the sale includes earn-outs, deferred consideration or rollover equity.  

Identifying the tax implications early can help avoid unexpected liabilities after completion and support wider succession planning, helping business owners align tax strategies with their long-term personal, family and wealth preservation objectives. 

Passing wealth to future generations may involve lifetime gifts, wills, pensions, Trusts or other succession planning arrangements.  

The aim is often to balance Inheritance Tax efficiency with maintaining the right level of control and protection over family assets. These decisions often form part of a broader financial plan, and Crowe UK's Your Life Builder can help individuals consider important life milestones and long-term financial objectives alongside their wealth transfer goals.  

Your assets will generally pass according to your will or, if there is no valid will, under the intestacy rules.  

Depending on the value and nature of your estate, Inheritance Tax may need to be considered and your executors usually need to obtain probate before assets can be distributed. Business interests, Trusts and overseas assets can often add further complexity.  

At Crowe UK, specialist probate and Trusts and estate planning support can help your executors manage the practical and tax considerations involved in administering an estate. 

Pension tax relief is designed to encourage retirement saving by providing tax advantages on qualifying pension contributions.  

Contributions receive tax relief at your highest marginal rate, subject to the relevant pension rules and limits. Pension planning can also play an important role in wider retirement, estate and succession planning, particularly when considered alongside wider financial goals. Crowe UK’s Your Life Builder helps individuals model retirement objectives, future wealth requirements and key life milestones. 

Pension planning can also play an important role in wider retirement, estate and succession planning, particularly when considered alongside future income needs, family priorities and long-term financial goals. For further information on maximising your income for retirement, please visit Preparing for retirement. 

Individuals who make qualifying charitable donations in cash may be able to claim tax relief through Gift Aid.  

Gift Aid allows charities to reclaim tax on donations, while higher or additional rate taxpayers may be able to claim further relief through their Self-Assessment tax return, often by extending their basic rate tax band. Gifts of shares and other assets may also attract a different forms of tax relief.  

Effective charitable giving planning can help maximise the value of your donations while ensuring the available tax reliefs are claimed correctly. Find out more on Charitable giving.