ACQUIRING LUXURY ASSETS

The acquisition of luxury assets such as superyachts, private jets, luxury cars, art & timepiece collections can provide clients with a great deal of pleasure. However, the ownership and maintenance of such acquisitions can lend itself to considerable responsibility and cost.

Lancaster Knox can advise clients on tailored ownership structures that are both tax efficient and offer operational efficiencies in the upkeep of the asset. The mobile nature of the asset requires a knowledge that considers a number of jurisdictions and associated tax implications and is something that Lancaster Knox is comfortable with and experienced in addressing.  In the case of a private jet or a superyacht this can extend to providing VAT advice on both commercial and private ownership. With regard to works of art this advice will also consider ARR on the purchase and sale both within and outside the EU.

By working across the wider Knox group of companies, Lancaster Knox can help to facilitate a full-service offering for private clients looking to make luxury asset acquisitions:

Establishing, managing and reviewing holding structures for a wide range of luxury assets;

Funding or refinancing new and existing assets;

Expert art, property, marine and aviation advisory services;

Compliance functions including payroll, VAT and accounts.

HOW CAN LANCASTER KNOX HELP?

At Lancaster Knox our Private Client Advisory team will be able to assist with all aspects relating to luxury assets and tailored ownership structures.

OTHER PRIVATE CLIENT SERVICES