Private client Tax: Meet our expert Dipesh Galaiya

Dipesh Galaiya is a Private Client Tax Senior Manager, primarily based in the London office, with regular visits to the Kent and Sussex offices.

He is known for his thoughtful, reassuring, and dedicated approach to high-net-worth clients. Often the first point of contact for new clients.

Dipesh provides bespoke solutions for international and UK resident clients with complex tax issues and wealth transfer concerns including structuring family wealth for younger generations.

“Managing relationships with high-net-worth individuals and families and advising them on their tax matters goes hand in hand with having a good listening ear and that is what makes the job so interesting for me.

When you are a trusted advisor, you must be empathetic and able to support them on their journey. I regularly advise clients who are grandparents who want to help their grandchildren and future generations with their education, so options such as setting up a trust to pay for school and university fees is a priority for them and depending on their age and wealth that might include a trust. I am also advising many clients on setting up Family Investment Companies and there can be significant tax savings for them in the short and longer term if planned correctly.

It is not unusual for me to be advising the children of clients for whom trusts were set up 20 years ago and beyond.

Due to the breadth and depth of services we can offer our clients at Kreston Reeves, we can help them at every stage of their life and wealth journey.

Some clients may come to us and have in mind what they want to achieve, and we can show them the different options and highlight alternative strategies to achieve the goal that maybe they hadn’t considered. Every client is different and therefore our advice and solutions are bespoke to each of them.

I recently met with a client who was very concerned about the Non-Dom rule change and how that would affect them – they said that they now have more friends in Milan than in London and were thinking of relocating. For others, they retain strong family links to the UK and whilst a move would save them a considerable amount of tax, they don’t want to leave family and friends just to do that. This is why it is important to really listen to clients as family dynamics and friendships are so important to people.

I really enjoy meeting clients. Often clients have concerns about how passing on their wealth to the next generation might affect them and we can help them to manage their fears. They might have set up, run and exited a successful business and they want to pass on wealth to their children who have lived a very different life to them.  It is often important to them that the wealth they have worked hard to achieve in their lifetime ensures they are financially secure for the rest of their lives, whilst being mindful of protecting it for future generations.”

Although Dipesh comes from an Actuarial background, he is a Chartered Accountant by profession and paved his way into the tax advisory world through his work in wealth management and tax planning.

Dipesh is also a keen speaker on wealth management and tax planning at seminars and conferences.

Outside of work, Dipesh is kept busy with his two young children and very hands on with their education and activities. He also loves keeping up with news and current affairs and when he gets the chance, his passion for photography.

If you would like any advice from Dipesh, or a member of his team, please do not hesitate to get in touch.