Christopher’s
Letter summer 2026

Over recent months, this has been reflected in many of the conversations I have had with clients and colleagues. There is greater interest in understanding what recent changes mean in practical terms, what further developments may reasonably be anticipated, and whether arrangements made in a different environment remain appropriate today.

At Alpha, the first half of 2026 has been particularly active. We have seen an increase in enquiries from new clients, frequently through personal introductions, together with considerably more engagement from existing clients wishing to discuss particular aspects of their affairs with members of our team. Landowners, farmers, business owners, property investors and private families have all been among those seeking our assistance.

There are sound reasons for this. The United Kingdom has undergone important changes affecting private wealth. The former domicile-based tax regime has been replaced, while changes to Agricultural Property Relief and Business Property Relief came into effect in April. These are substantial developments for some individuals and families and form part of a wider fiscal environment that continues to demand close attention. There is also continuing political and policy discussion around the future taxation of property and land, including proposals for forms of land value taxation.

At the time of writing, such wider proposals remain matters of debate rather than established government policy. Nevertheless, they add to a changing landscape that those with significant property, business or family wealth should take seriously and consider calmly with the appropriate advisers.

I do not believe uncertainty is a reason to make hurried decisions. Experience has taught me quite the opposite. The more complicated the environment becomes, the more important it is to consider matters carefully, obtain the right advice and distinguish between what genuinely requires action and what does not. A consultation with a professional adviser can be of great value and provide much-needed comfort.

That distinction is important. Not every change in government policy requires a response and not every client requires a new structure. There are occasions when, having examined the position carefully with the appropriate lawyers, accountants or other advisers, the sensible conclusion is to leave matters as they are. Equally, there are circumstances where doing nothing may carry consequences of its own.

Much of our work this year has therefore begun with conversation. Clients want to understand the possibilities available to them, whether domestically or internationally, and to consider them properly before deciding upon a course of action. Depending upon the circumstances, those conversations may concern trusts, companies, succession, banking, family office services or other arrangements relevant to the ownership and protection of wealth.

This is also where the breadth of the relationships surrounding Alpha becomes particularly valuable. Our role frequently involves bringing together the appropriate expertise for the matter at hand, including lawyers, accountants, banking professionals and other specialists. Adwell & Greene, our accountancy practice at Gray’s Inn Square, has added considerably to that capability and continues to develop its work with Alpha clients.

One observation from this year has stayed with me. People who have spent much of their lives creating something of value are increasingly asking whether arrangements made many years ago remain suitable in the present environment. I think that is sensible. A farm that has remained within a family for generations, a successful private company, a substantial property holding or accumulated family capital deserves careful consideration when the environment surrounding it changes.

There is, of course, no means of knowing exactly what the next several years will bring. Political priorities change, legislation develops and economic conditions rarely follow a straight line. That has always been true. What feels different today is the number and pace of the questions being asked by those responsible for substantial private and family wealth.

For Alpha, this reinforces something I have believed throughout the development of the firm. Our value lies not in predicting the future, but in being available when clients need considered judgement, access to highly experienced professionals and the time to examine important decisions properly.

Despite the present uncertainties, I remain optimistic yet cautious. Enterprise has always adapted to changing circumstances, as have families who take a serious interest in the future of what they have created. There will undoubtedly be further changes ahead, but there will also be opportunities, new ideas and new possibilities. This is a time of understandable concern for many, and equally a time to consider carefully what should be done. With the right advice and appropriate professional structures in place, it is entirely possible to move forward with a greater degree of comfort and confidence.

To our longstanding clients, thank you for the confidence you continue to place in Alpha. To those who have joined us during what has already been a very active year, I extend a warm welcome. I look forward to hearing from many of you during the months ahead and, as always, to exchanging thoughts and ideas.