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Guidance also available on the application of Entrepreneurs’ Relief and other business asset reliefs, such as hold-over relief to ensure that when an asset is disposed of, all relevant reliefs and allowances are claimed. Corporate tax planning, including Research and Development tax credits, capital allowances and creative tax reliefs is an area a tax compliance specialist can assist with. Practised barristers can advise on direct and indirect tax litigation. Tax aspects of buying and selling properties can be advised upon by a tax barrister, as can succession planning and drafting wills. The most established tax barristers hold an enviable reputation for expertise in dealing with suspected tax offences. Tax law is often written in a style which makes it difficult for tax professionals to work with and impossible for a layman to understand.
Specialists can advise international business owners on how to achieve the most efficient use of their businesses to return value to shareholders wherever they are resident. Tax issues could involve, for example, a judicial review action in the Administrative Court against HMRC because they have breached their statutory obligations or considering EU law defences to taxing provisions that discriminate between residents and non-residents. Allowable losses is a matter that a barrister specialising in capital gains tax can offer opinion on. If you are planning significant capital expenditure, a tax barrister or tax advisor may be able to advise you on the best timing to maximise the tax relief available to you. Professional help by any Domicile Advice service will provide value for money.
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. A tax barrister who is an expert in SDLT will be able to advise you on investigations and litigation. A handful of UK tax barristers provide advice on all aspects of UK corporate and private taxation, including offshore trusts/structures, estate planning and back-duty claims. VAT and supply chain issues are matters that a barrister with a tax specialism can give advice on. Finding a tax barrister or tax chambers is made easier by the Revenue Bar Association (RBA), which brings together details of barristers specialising in tax. All professionals involved with Pensions Advice have a duty to be confidential.
Appealing penalties and surcharges for individual tax affairs are an area of HMRC tax investigations that tax barristers can assist with. In Tax, you often need to get creative. For example, if you want to reduce the tax a client pays there are a huge range of tools you could recommend, such as trusts and tax-free investments. Expert pensions barristers provide specialist advice on all aspects of pension law, including advice on alterations and winding up, scheme mergers, closures to accrual or new entrants. A tax barrister can advise on how best to manage your tax position following a divorce. Most civil tax investigations end with you and HMRC agreeing on how much tax and how much of a penalty you should pay. You don’t need to go to court if this is the case. If you can’t reach a mutual agreement and disagree with HMRC’s decision on the case, you can make an appeal and begin litigation in either civil court or a tribunal. A Inheritance Tax Advice service will represent clients to determine the best fit for their needs.
Specialist pensions experts may have experience of all forms of UK based pension and life assurance arrangements, advising employers, trustees, intermediaries and individuals. All professionals have a duty of confidentiality but only communications between clients and lawyers – solicitors and barristers – are subject to legal professional privilege. Although barristers are best known for their courtroom advocacy, that’s only part of what they offer. Barristers, through their training, experience and networks, are intimately familiar with the decision-making processes and reasoning of courts and tribunals. The consequences of receiving sub-standard professional service can be devastating to both individuals and businesses, be it financially or reputationally. A barrister who is an expert on tax matters can provide advice to property investors and developers on appropriate structures. Specialist assistance for Tax Barrister should be sought whenever required.
Tax law is an important ingredient of literally every commercial, corporate or personal transaction. Every facet of life today involves tax in some respect. It’s a big source of revenue for authorities and its subject-matter is voluminous and complex. At the start of any legal dispute it is important to know how much it is likely to cost. Tax barristers are usually happy to discuss the likely fees. A number of factors will be taken into account when estimating or agreeing the fees for a case, including the complexity and nature of the case. Barristers give advice to clients about how the law applies to their situation. Barristers are normally contacted and instructed by a solicitor who seeks specialised legal advice in a particular field, such as criminal, family, commercial or tax law. Uncover additional details relating to Specialised Tax Barristers at this article.