Their advisers are having to deal with increasingly complex tax laws, according to the 'Wealth Report 2013', sponsored by Global Legal Post in association with Boodle Hatfield. The report demonstrates that 'there is growing interest in setting up family offices…and that many lawyers are advising clients on whether they should switch the location of their bank accounts'.

Private clients feel themselves to be 'on high alert'.  'In the UK and worldwide, there have been huge changes to tax legislation over recent years' says Katie Hawksley of Boodle Hatfield.