The Kleinwort Benson team will be integrated into Saffron’s city-based team, though the number of staff moving with the business has not been disclosed.

Kleinwort Benson said that as the UK tax regime was getting complex, it felt a need for a specialized external partner that would provide its clients with top quality service. The decision was thus made to sell the private client tax compliance business to Saffron.

Formed just two years ago, Saffron Tax Partners offers a range of tax services to UK and non-domiciled individuals.

Saffron managing partner Karen Spencer-Smith said; "Given the continuing challenging and volatile economic back-drop, preservation of wealth is key and it is therefore essential our clients can feel confident that their financial affairs are managed as tax efficiently as possible."

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