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The Mercury Private Client team advises private clients and their families on all aspects of taxation. Our advice is aimed at those clients with significant levels of income and/or assets with whom we aim to build a long standing relationship. We do not compete or conflict with our clients current advisers.
See Transactional Tax Services See Employment Tax Case Study “We met an American Citizen, a long term resident of the City of Westminster. He has been paying 40% UK tax and 35% USA tax, offsetting his UK against the US tax, as a credit on his annual US federal income tax return. However, this left a balance of 5% rolling over year after year un-offset on his US tax return. He could only roll these unused credits forward ten years or back one, but because he had only UK high taxed income there was no opportunity to use up the year by year 5% excess over US taxes. Over 10 years, he had built up in excess of 500,000 US dollar equivalent. By restructuring his worldwide partnership and employment income to actually reflect new opportunities to participate in different roles both in the UK and under separate agreements outside of the UK we were able to provide for income untaxed in the UK. This income would still be taxable in the USA at 35%, but we were now able to offset the rolled up 10 years worth of tax credits against it. The income was untaxed in the UK because the individual was not domiciled in England and Wales, claimed the remittance basis and did not remit the offshore income to the UK. The client was pleased as he was able to receive income effectively tax free, and utilise his rolled up UK tax credits to offset the US tax due on his worldwide income”. Contact: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it , or This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
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