Introduction

The Portman Estate is a forward thinking property business with an enduring heritage and a commitment to promoting and protecting the long term success of Marylebone and London’s West End. 

We wish to be transparent at all times for the benefit of our customers, clients and partners, and have chosen to share publicly information about our governance, structure and tax planning principles.

Governance and Tax Structure

The London Estate has been in the ownership of the Portman family for nearly 500 years and comprises 110 acres of Marylebone. The Portman Estate also includes two rural estates in Buckinghamshire and Herefordshire and a small number of commercial properties located outside Greater London.  Under the governance of 13 Trustees and Non-Executive Directors, The Portman Estate’s team of 85 employees run the day to day business with an eye to the future, in order to manage the Estate for the current and future generations of residents, businesses, workers, visitors and the Portman family.

Each Trust, which is managed by a group of Trustees, pays UK taxes in line with current HMRC requirements, including income tax, capital gains tax and inheritance tax.  Some of the trusts’ businesses are operated through UK limited companies and these companies are run by their boards of directors.  The companies pay corporation tax and other UK taxes in line with current HMRC requirements.

There are over 100 named beneficiaries of the Estate, all of whom are Portman family members.  The income received by a beneficiary is taxed at their personal tax rate and beneficiaries are responsible for their own tax affairs. 

The Trustees and Directors of The Portman Estate (“the Estate”) have committed to the following tax values in respect of their tax obligations which are reviewed on an annual basis:

  1. The Estate will pay the correct amount of tax in accordance with the law.
  2. Estate tax returns will be submitted within HMRC deadlines and HMRC queries will be responded to promptly with full disclosure.
  3. The Estate maintains an open, transparent and constructive dialogue with HMRC.  For any material transactions outside the normal course of business, the Estate will report to HMRC in advance where possible.
  4. The Estate does not and will not take undue tax risks and aggressive, abusive or artificial tax planning will not be permitted.
  5. The Estate does not and will not permit or tolerate tax evasion or criminal facilitation of tax evasion. 

These values are intended as a series of commitments by the Trustees and Directors when reviewing tax planning, risk assessment and HMRC protocols. They are shared with the Trustees’ and Directors’ professional advisers.

December 2025