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On the 5th of August 2020, Hawksford’s India desk co-hosted a live video webinar with Edwin Coe’s Tax Partner, Hetal Sanghvi. The webinar provided answers to the Top 8 most critical questions by global Indian HNW families planning for succession, particularly in light of COVID-19.
The questions discussed were:
- I have family members relocating to the UK – what are the key tax considerations which should be included/considered? How long can it take?
- At what point do I or my family become UK tax-resident?
- What is a trust and how can it help me with my family governance and succession plans?
- I want and like to maintain control. What are my options for achieving this?
- What are the rights of various parties in a trust relationship?
- I am worried about the fiscal impact of COVID-19 in India and what this could mean for my accumulated wealth. How can cross-border wealth diversification help me?
- How do I ensure a robust structure can be achieved?
- What are the practical challenges to overcome to successfully plan for India/UK succession?
More about the speakers:
Hetal Sanghvi
Hetal is a Partner within the Tax team and leads the Indian team for the firm. She is a qualified Chartered Tax Advisor and achieved distinctions in her ATT qualification.
Hetal has substantial experience in dealing with HMRC investigations, offshore disclosures and providing tax advice to HNW and UHNW private clients.
Hetal’s technical skills and experience allow her to identify tax-efficient planning opportunities for clients as part of the process of assisting clients to regularise their tax affairs. She takes time to get to know clients, their needs and objectives and ensures they receive high-quality tailored advice. Clients appreciate her ability to explain complex issues with clarity and she is frequently introduced to clients via offshore financial institutions.
Michael Powell
Michael is a well-respected, skilled personal adviser and trustee with over 30 years’ experience of working with families, young entrepreneurs and the inherited wealthy. He has built lasting relationships with clients, their advisers and intermediaries during his 30-year career.
Michael has extensive expertise in establishing, administering and advising clients on a wide range of specialist structures that include Managed Trust Companies, Private Trust Companies, Family Office services and UK Tax planning. He specialises in advising families on their often complex situations and is routinely involved in seeking to resolve contentious trust situations. He has also implemented solutions for the young aspirant wealthy and those with charitable and philanthropic objectives across an increasingly international client base and travels regularly to India for work with high net worth non-resident Indian families.
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