Combining technical expertise and a deep familiarity with tax litigation process, the best tax barristers provide a far broader perspective of the issues surrounding tax disputes than that of pure litigators. We think of taxes as an evil thing, the tax authorities as unyielding, death-bringing envoys reaping the last dime from you. The ongoing debate about how much taxation is needed shows that taxes are publicly debated and ultimately agreed upon. We don’t always like the outcome. Tax barristers can advise individuals, trusts, partnerships and companies on how to carry out UK or offshore transactions in the most tax-efficient way. These transactions often involve the sale and purchase of companies, property and other assets, the tax efficient extraction of profits and gains, and the establishment of tax efficient asset holding or ownership structures. A tax barrister advises on tax matters arising in both commercial and personal contexts. Tax policy is only one of the factors on which businesses and individuals make their decisions, but lack of stability and clarity about the direction of travel in tax policy will, over time, undermine the competitiveness of a tax system and make it impossible for businesses to plan. Pensions barristers act in connection with a variety of disputes with a pensions aspect, including professional negligence claims against administrators and other advisers, and disputes in relation to pension fund investments.
The prominent tax barristers regularly deal with domestic and cross-border investigations. The issues surrounding tax and legal services are increasingly under the national and international spotlight. New regulations and legislation mean that this landscape is becoming increasingly complex and the scale and breadth of this is so wide-reaching. Experienced barristers understand what clients face in discharging their regulatory obligations, and the challenges they may encounter when presented with the prospect of an investigation. For any person who thinks their tax situation is not complicated enough, they should immediately reject that idea. Complexity has no direct relationship with tax savings. Professional help by any Pensions Advice service will provide value for money.
A Positive Experience
A pensions specialist may have experience negotiating actuarial valuations and associated contingent assets including parent company guarantees, bank guarantees, security over property and asset backed funding arrangements. Many UK tax barristers can offer transactional advice when working with corporate lawyers, joint ventures and property portfolio acquisitions. Fascinatingly, a barrister who is an expert on the subject of tax can provide advice on the consideration of the merits of a judicial review of the Upper Tribunal decision to refuse to hear an appeal from the First-tier Tribunal. Some of the most established tax barristers can advise on any matter involving penalties and tax assessments and will, where possible, provide you with fixed fee arrangements so that you know exactly what the costs will be to challenge HMRC. Expert pensions specialists advise on the restructuring of businesses, financing and refinancing, all forms of corporate activity and conduct, covenant assessments, mergers, pension scheme investments, benefit changes, scheme amendments, advice in relation to the Pensions Regulator and Pension Protection Fund, pension litigation, outsourcing in the public and private sectors as well as SSASs and SIPPs. A Domicile Advice service will represent clients to determine the best fit for their needs.
If you’re unhappy with the outcome of an HMRC investigation, you can request an internal review. This will be carried out by another HMRC officer who has no previous involvement with the case. They can either confirm or change the figures of the original investigation. With an increased focus by HMRC on commercial substance in offshore activities it is important to ensure that any tax planning is driven primarily by commercial reasons and not by the avoidance of taxation. Tax barristers can assist with compliance obligations. HMRC investigations are daunting and extremely stressful at the best of times and, with the ever-present threats of potential prosecution or significant assessments, can have an extremely serious effect on your business and health. Intellectual property exploitation is a matter that a barrister focused on tax can give advice on. Taking on Inheritance Tax Advice can help sort out your financial woes.
Grace Under Pressure
Specialist tax barristers assist clients in understanding complex foreign tax, ownership and succession laws, and we are familiar with the differences between common law and Roman law. A barrister generally provides specialist legal advice and represents individual people and organisations in courts and tribunals and through written legal advice. Tax barristers can provide guidance on indirect taxation issues such as VAT, customs planning and environmental taxes. To navigate the complexities of tax, barristers can work alongside their clients' existing teams of accountants, bankers, asset managers, trustees and family offices, devising and implementing the most robust and appropriate national and international tax strategies, legal structures and operational frameworks. Disclosure of tax affairs are an area of HMRC tax investigations that tax barristers can assist with. Specialist assistance for Tax Barrister should be sought whenever required.
Some barristers have a wealth of experience handling a wide variety of cases in all courts from the ECJ to the VAT Tribunal, both for taxpayers and for HMRC. Tax barristers scrutinize and study business structures and constitutions to provide clients with the best possible advice. Furthermore, the job involves plenty of study and research and tax solicitors need to have a close eye for detail. In tax law, the regulations say exactly what they mean – and you need to interpret them exactly that way. That means paying attention to every word. You can discover more information about UK Based Tax Barristers at this link.