Macfarlanes is a pre-eminent law firm serving a global client base across Private Capital, Private Wealth, M&A and Disputes. We are the only UK firm ranked Band 1 by Chambers for both corporate tax and private client tax.

We have one of the leading tax advisory practices in the UK, offering recognised excellence combined with breadth, specialism and scale. Clients value our technical precision and pragmatic understanding of how the private capital sector works. We don’t just advise on what the rules say – we help clients apply them in ways that support their strategy and long-term goals.

We advise private capital fund managers across the full fund lifecycle, helping them navigate complex structuring challenges and launch and manage funds more effectively.

Our advice is grounded in deep technical knowledge and real-world insight into how private capital operates. We take a collaborative approach, drawing on the firm’s expertise in policy, regulatory, corporate and private client matters to deliver integrated and co-ordinated tax advice. Our experts also help shape tax policy and regulation through active involvement in technical working groups.

We advise across the full spectrum of private capital tax issues, from fund structuring and capital raising to carried interest arrangements, investment holding platforms, bespoke products such as separate managed accounts, and complex transactions including continuation funds, GP-led restructurings and NAV financings. Our practice also encompasses advice for fund investors on tax aspects of commitments and co-investments, ongoing house tax matters including LLP structures and VAT, fund manager cashflow structuring and representation in HMRC enquiries and litigation