Camilla Wallace

Senior Partner

Private Client
Profile Image

Expertise

Camilla advises high-net-worth individuals, both UK and non-UK domiciliaries, on estate planning to mitigate the incidence of inheritance tax and control the devolution of estates using lifetime gifts, trusts and tax-efficient wills. She also provides advice to clients on capital gains tax and income tax mitigation strategies as regards lifetime tax planning.

She has spent many years acting for the trustees of various family trusts, including those of significant value. This has involved dealing with the legal and tax problems which trustees commonly face, be they the needs and requirements of beneficiaries (and occasionally disputes with them) or the management of trust assets. Her expertise covers areas such as landed and agricultural estates, heritage houses and chattels, investment management including residential and commercial property, and global tax-efficient structures.

Camilla has experience of both offshore and onshore trust structuring and advising trustees and beneficiaries in relation to the day-to-day management and administration of trusts and estates, including landed estates across England and Wales.

Camilla is a member of the firm’s Offshore, Family Office and India Groups.

Recent Experience

  • Drafting wills, lasting powers of attorneys and lifetime trusts to mitigate tax or carry out estate or succession planning.
  • Advising mixed US/UK citizen couples on their UK tax and estate planning.
  • Drafting documents and providing tax advice as regards the ownership, transfer and enjoyment of high value art.
  • Providing pre-arrival tax and remittance planning to non-UK domiciliaries (particularly Russian, Indian, Middle Eastern, Chinese and French).
  • Advising on the UK tax implications of UK real estate structures set up by non-UK domiciled individuals (resident and non-resident in the UK).
  • Advising entrepreneurs pre-liquidity as regards tax litigation, estate planning and succession.
  • Advising on the creation of UK based Family and Private Investment Offices.

Career History

Camilla trained at US firm Dechert and thereafter was a solicitor in the Private Client team at Macfarlanes. She is a member of STEP (passing exams with distinction) and a founding member of PAIAM (Professional Advisors to the International Art Market).

Camilla qualified as a solicitor in 2004 and obtained a Master of Arts degree in Spanish from the University of Edinburgh.

Camilla speaks Spanish and French.

Publications

  • Camilla has written a chapter called ‘Inheritance – The Foreign Connection’ in Private Client Practice: An Expert Guide, published by Solicitors Journal.
  • Camilla is a contributor to Tatler’s “Expert’s Corner”, writing articles on inheriting a stake in the family business (November 2020) and the sustainable investing in a wealth management context (April 2021).
  • Camilla also writes regularly for the industry and national press and a selection of her articles are listed under the “insights” links below.

 

Camilla is remarkable in her interface with clients, she is concise and very amiable. It feels like you're talking to someone in your own village, and it's founded on this layer of lightning technical knowledge.

Chambers, High Net Worth 2023

Camilla is phenomenal.

Chambers, High Net Worth 2023

Camilla is leading a fantastic team of technically astute solicitors, and the firm always delivers.

Chambers, High Net Worth 2023

Camilla Wallace is compassionate, yet whip smart, instantly recognising priorities when circumstances are complex. She is supported by a superb team.

Legal 500, 2023

Camilla Wallace – very discrete and gives me real confidence.

Legal 500, 2023

Camilla Wallace works on cross-border estate planning and tax matters. "Camilla is pretty outstanding. It is her manner with clients and the strong direction she gives, and she has very strong technical analysis, too. I really enjoy working with her," says a source. Another interviewee says that "Camilla asks incisive questions and provides sophisticated advice, and delivers this with warmth and kindness.

Chambers, High Net Worth 2022

Camilla Wallace is head of the private client team at the firm and advises domestic and international clients on trusts and estate planning. "She has absolute technical rigour and very strong client-handling skills," enthuses one industry expert, while another source notes: "She is a very smart private client lawyer who is very good with clients and intermediaries." The source adds: "She is also very engaging and incredibly smart."

Chambers, High Net Worth 2020

News

Senior Partner Camilla Wallace writes for GFOC Journal – Has Wealth Got (Even More) Political In The UK?

In our internationally mobile society, governments’ approaches to wealth are important for individuals weighing up where to base themselves. This is a particularly timely topic as the UK heads intoRead more

News

Wedlake Bell votes in next Senior Partner

City law firm Wedlake Bell has announced the election of Camilla Wallace as the firm’s next Senior Partner. Camilla will take up the role on 1st January 2024 when currentRead more

News

GFOC Journal: Estate Planning for clients with UK and US connections

To read the full version of the Global Family Office Community Journal please click here.

News

Meeting the 2021 eprivate client 50 Most Influential – Camilla Wallace of Wedlake Bell

Head of our Private Client Group Camilla Wallace has been ranked by eprivateclient as one of their “50 most influential”. Read their interview with Millie here.

News

Taxing Times: Potential tax reforms to cover government Covid borrowing

We all know that tax rises are on the cards to help the UK government pay for billions of pounds of Covid-related borrowing – but what form might these take?Read more

News

How should I protect my assets for my granddaughter?

“I have just sold a family business of which I am the main stakeholder and now have a significant amount of money to protect for my only granddaughter, who isRead more

News

60-second interview with Camilla Wallace – STEP

Partner Camilla Wallace has recently won the coveted Trusted Advisor of the Year Award in STEP’s 2021/22 Private Client Awards. Read her 60-second interview below, originally published on the STEPRead more

News

How can I protect the proceeds of my business sale abroad?

Partner Camilla Wallace’s answer to the reader’s question “How can I protect the proceeds of my business sale abroad?”, has been published in the Financial Times. Click here to readRead more

News

Landing Gear: a Toolkit for Landed Estates

Head of Private Client Group Camilla Wallace and Associate Andrew McIntyre have written about the complexities of owning or inheriting a landed estate, and the various funding options to beRead more

News

RISK MANAGEMENT AND TAX COMPLIANCE FOR FAMILY OFFICES

Family Offices – tax compliance during the pandemic As well as the standard tax compliance themes with which a family office must deal, the past year has presented a newRead more

News

Tatler Experts’ Corner: I’m clashing with family over our investment strategy, I favour sustainable investing, whereas they want pure financial return. How can we agree?

As part of the Tatler SOS Experts’ Corner, Camilla Wallace delves into the subject of investing sustainably and ethically and shares her advice on how to reach a consensus withRead more

News

Will I be taxed in the US or the UK?

Camilla Wallace has shared her answer to a reader’s question in Financial Times, regarding whether it is possible to be a tax nomad whilst assigned on important international business. ToRead more

Uncategorized

As Art Market Becomes More “Intangible,” How To Prove Ownership?

In an article for Wealth Briefing, specialists Camilla Wallace and Jack Martin examine the fast-changing art marketplace, where digital works are in high demand and the new patrons are wealthyRead more

News

Emergency wealth tax ‘could wipe out UK’s pandemic bill’

The Wealth Tax Commission’s Report is extensive, thoroughly researched and well-argued but will not be well received by the majority of high-net worth individuals and many Conservative voters. The proposedRead more

News

Tatler Experts’ Corner: I’m about to inherit a stake in the family business, what should I be thinking about?

As part of the Tatler SOS Experts’ Corner, we delve into the tricky waters of trust and inheritance. Here Camilla Wallace from Wedlake Bell LLP weighs in on what to do aheadRead more

News

Prime London Property – Rebalancing Priorities for Work and Home

Residential Property partner Jonathan Achampong and Private Client partner Camilla Wallace join Jeremy McGivern of Mercury Home Search to discuss why London remains an attractive location for high net worthRead more

News

To b, or not to b

“To B, or not to B: That is the Question: Whether ’tis Nobler in the Mind to Suffer the Slings and Arrows of Outrageous Fortune, or to Take Arms AgainstRead more

News

Wedlake Bell’s Camilla Wallace recognised as Citywealth’s Woman of the Year

City law firm, Wedlake Bell, is proud to announce that Camilla Wallace, Head of Private Client Group at Wedlake Bell has won Woman of the Year at Citywealth’s prestigious MagicRead more

News

Spring Statement reaction: Wedlake Bell comments in eprivateclient – 14/03/2019

2019 Spring Statement reaction: Overshadowed by Brexit but tax evasion and avoidance still ‘extremely high’ on government’s agenda Yesterday’s (13/03/2019) Spring Statement by Chancellor Philip Hammond was overshadowed by BrexitRead more

News

Wedlake Bell LLP excels in nominations for the Citywealth Magic Circle 2019 Awards

Leading law firm Wedlake Bell LLP is pleased to announce that the firm has received nominations in a breadth of categories in the highly regarded Citywealth Magic Circle Awards thisRead more

Brexit

Inheritance Tax Review – Private Client Hub

Private Client Hub originally published the article on 17 October 2018 The Office of Tax Simplification (“OTS“) published a consultation on inheritance tax (“IHT“) in April 2018 and we areRead more

Bulletins

Navigating HMRC’s non-dom net

Although many non-doms are more likely to be worse off with the government’s tax reforms, there are practical measures to cushion the impact, writes Camilla Wallace. Non-domiciliaries (‘non-doms’) have beenRead more

News

The Latest on the deemed Domicile Rules (2018) Webinar

Income Tax and Capital Gains tax have been affected by changes to the deemed domicile rules in force from 6 April 2017. This webinar will provide you with a guideRead more

Bulletins

NEWSFLASH – Government confirms reform of taxation of non-domiciliaries

On 13 July 2017, the Government confirmed that it will introduce a second Finance Bill 2017 soon after the Parliamentary summer recess to implement those policies withdrawn from the FinanceRead more

Bulletins

Offshore Non-Compliance under the spotlight

Undeclared offshore assets are firmly on the radar of H M Revenue and Customs (“HMRC”) in furtherance of the government’s continued crackdown on tax evasion and avoidance. HMRC have recentlyRead more

Bulletins

MAJOR REFORMS TO THE TAXATION OF NON-DOMICILIARIES

On 8 September 2017, the government published Finance Bill 2017-2019 (“the Summer Finance Bill”) reintroducing the majority of the proposed reforms to the taxation of non-domiciliaries (“non-doms”) put on holdRead more

News

Camilla Wallace answers a reader’s question on “succession to the peerage” in the Financial Times

Partner and Head of our Private Client Group, Camilla Wallace, has had her comments on inheritance and succession to the Peerage published in the Financial Times, in response to aRead more

Bulletins

IN TRUST SUMMER 2017: SIMPLIFYING THE FAMILY BUSINESS

If you have a family business that is run though a corporate structure, there could be advantages to simplifying the group. This could be for a number of reasons, includingRead more

News

Lawyers welcome publication of consultation on Entrepreneurs’ Relief for Capital Gains Tax – Camilla Wallace comments for The Times’ Brief

Britain is likely to have to “press ahead on its own” with attempts to force technology giants to pay more tax in the jurisdictions where value is created, lawyers predictedRead more

News

“Good communication is key to success as a leader” – Camilla Wallace advises at eprivateclient Seminar

Partner and Head of our Private Client Group, Camilla Wallace, has given her advice on successful leadership to young professionals at the eprivateclient Leadership Insight Seminar last week. Speaking onRead more

News

Camilla Wallace has comments published on entrepreneurs’ tax relief in Irish Legal New

Following the Spring 2018 Budget, Partner and Head of our Private Client Group, Camilla Wallace, has had her comments on the Chancellor’s publication of a consultation on CGT Entrepreneurs’ ReliefRead more

News

“CGT Entrepreneurs’ Relief consultation is ‘important'” – Camilla Wallace comments for eprivateclient

Partner and Head of our Private Client Group, Camilla Wallace, has commented on the publication of the consultation on CGT Entrepreneurs’ Relief for eprivateclient. On the publication, which came afterRead more

News

PSC in property is one step closer

As it committed to do, BEIS has issued draft legislation for a new regime for “PSC in property”, in the form of the Overseas Entities Bill. This bill has onlyRead more

Bulletins

Declaring Offshore Assets? Tick it off your summer check list…

H M Revenue and Customs (“HMRC“) has launched a new regime to encourage UK taxpayers to disclose undeclared offshore assets before 30 September 2018. This also applies to trustees ofRead more

News

​Camilla Wallace and Michael Gardner’s joint article is published in Spear’s

The article was originally published by Spear’s on 24 September 2018. Who really owns Lynn Chadwick’s art? A dispute over the estate of the late artist and sculptor provides anRead more

News

Camilla Wallace’s answer has been published to the FT reader question on forcing the sale of a property through a trust

Can I force my brother to sell his share of our flat? My parents bought me and my brother our London flat from our family trust. It is in bothRead more

News

Family businesses, succession planning and trusts

The article was originally published by eprivateclient on 13 November 2018. Camilla Wallace, partner and head of private client & Rosalyn Breedy, partner and head of funds, Wedlake Bell. ItRead more

Bulletins

Camilla Wallace and Charmaine Hast Named in eprivateclient’s ’50 Most Influential’

We are pleased to announce that Head of the Private Client Group, Camilla Wallace, and Head of Family, Charmaine Hast, have been recognised in the 2018 eprivateclient 50 Most InfluentialRead more

News

Autumn Budget 2017 – Key Points for Private Clients

The Chancellor, Philip Hammond, delivered his first Autumn Budget on 22 November 2017. The main headline was the abolition of stamp duty land tax (SDLT) for first-time buyers for propertiesRead more