HMRC now treats wealthy individuals as their own customer group. Anyone with income over £200,000 or assets above £2 million falls into it, and HMRC estimates that around 1.3 million people in the UK meet that bar.

That group is watched closely. Tax receipts linked to wealthy individuals are expected to reach around £160 billion in 2025/26 across PAYE, National Insurance, Self Assessment, capital gains tax and inheritance tax, and HMRC's compliance yield from this group alone is estimated at £3.8 billion for the same year. The tax gap tied to wealthy individuals sat at roughly £3.6 billion in 2024/25.

Put simply, tax professionals who actually understand this side of tax are no longer optional once your net worth grows past a certain point. High-net-worth individuals often face more scrutiny, not less, and a mistake costs more too.

This is why proper HNWI planning, run by tax advisers who specialise in this area rather than general practice, matters so much. Firms offering genuine compliance services for this client group are still fairly rare, which is exactly the gap Vexo Accounting was built to fill. Dealing directly with tax authorities on your behalf, rather than leaving you to manage it alone, is part of that service too.

The old non-dom regime was replaced in April 2025, which changed how UK residence and foreign income and gains are treated for internationally mobile high-net-worth individuals. Qualifying new UK residents can now access the new Foreign Income and Gains regime for their first four years of UK tax residence.

If you have offshore assets, global assets, or income arriving from outside the UK, international tax planning needs to happen before you become UK tax resident, not afterwards. We work through the Statutory Residence Test with you, cross-border taxation questions, and how moving to or leaving the UK affects your tax liabilities.

Carried interest moved fully into the income tax framework from April 2026, which matters if you work in private equity or venture capital. We keep this kind of specialist work current, because HMRC rules shift more often than most people realise, and yearly income from overseas sources needs reporting the right way from day one.

Fees for accountants for high-net-worth individuals are priced around complexity rather than a flat monthly rate, so costs vary more than they would for a standard personal tax return. Most UK accountancy firms quote on a case-by-case basis rather than publishing a set price list, and a straightforward self assessment tax return sits in the low hundreds while complexity pushes the cost up sharply from there.

Based on our recent projects, ongoing high-net-worth tax support tends to run from around £2,500 a year for relatively contained affairs, up to £15,000 or more annually where multiple entities, trusts, and cross-border taxation are involved. Specialist tax advisers pricing work around complex assets will often quote one-off inheritance tax planning or a business sale review separately, ranging from a few hundred pounds for a short consultation to several thousand for a full restructuring project.

This is a rough guide based on our recent projects, and the actual cost varies depending on how many income sources you have, whether trusts or family investment companies are involved, and how much HMRC contact is expected. We'll always give you a clear quote after an initial consultation, before any work begins.

If you want an accountant for high-net-worth individuals who takes the time to understand your financial affairs properly, get in touch with Vexo Accounting. We'll talk through your income, assets, and financial goals, and tell you honestly where we can save money and where we can't, whether your tax optimisation needs are modest or you're already ultra high-net-worth.

Whether you want ongoing support or a one-off review, Vexo Accounting are the accountants for high-net-worth individuals who take the time to get your tax affairs right, in a tax-efficient way that holds up under scrutiny. Book your free quote with Vexo Accounting today and find out what a private client tax accountant who actually knows this area can do for you.