Here are a feast of succulent pointers around the topic of Expert Tax Barristers.
The top tax barristers advise many of the world’s leading financial institutions and corporations on domestic and crossborder transactions. Pensions specialists may advise on all aspects of legal obligations, in relation to disputes between members and trustees and employers, from informal discussions to the level of complaints to the Pensions Ombudsman. Skilful tax barristers provide assistance during tax audits. You do not need to be good at maths to succeed as a tax barrister as cases are generally determined on points of principle. There is rarely a dispute about the amount that is due once the points of principle have been determined – and even when they do arise, they are generally matters for the accountants to resolve. Property transactions are often tax driven. Tax barristers can help mitigate tax by providing first hand property tax advice. This includes advising on Stamp Duty Land Tax (SDLT), reliefs for capital allowances, irrecoverable VAT, deductions for finance costs, and Construction Industry Scheme (CIS) aspects of planning. Some tax barristers are in court once every month on substantial cases. Typical cases take a lot of preparation and you would not want to be in court more often than that.
Some barristers that specialise in tax matters advise on a wide variety of domestic and cross border transactions, including corporate acquisitions and disposals, IPOs, joint ventures, corporate reorganisations and private equity transactions. A tax barrister who is an authority in Stamp Duty Land Tax may be able to advise on solutions to a tax problem. A barrister is best known for their advocacy before the Courts but it is true to say that their strength lies in Dispute Resolution, both judicial (before Courts or tribunals) and non-judicial (through negotiation, mediation or arbitration). 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. As you may be aware, the best
service can give advice in relation to their area of knowledge.
It is far less important to provide a complete set of documents with the instructions if the case looks likely to litigate. If the matter is substantial, only short instructions and some of the key documents might be necessary initially. Tax barristers are frequently asked to give a tax perspective on personal or business affairs, investments in financial products, trusts and other structuring vehicles. Whether you are a representing a corporate entity, trust, charity or require personal tax advice, tax barristers can help you with the evolving nature of tax. A tax compliance expert will assist resident, non-resident or non-domiciled individual and trustee clients to fully comply with their tax obligations and gives them the reassurance that their tax position is returned to HMRC promptly and accurately. As tax barristers do not have a continuing relationship with the lay client, they are able to take a detached view; they do not need to feel embarrassed in giving frank, if unpalatable advice, and the client is usually more prepared to accept such advice from a barrister than he is from his own solicitor or accountant. Any
service will not reveal what he or she has been told to anyone else.
Tax returns have never been the easiest documents to work with. But if you have complex investments or international assets, it’s likely you will benefit from calling on in-depth accounting and legal knowledge. Businesses need practical, technical and workable solutions to their day-to-day corporate tax challenges to achieve the best outcomes and to stay ahead of constantly evolving legislative and regulatory requirements wherever they do business. Increasingly tax is a political issue too, which has led to increased levels of scrutiny and transparency, and national and international regulatory and reporting changes. Knowledge of tax by tax barristers can be complemented by advocacy skills and specialist expertise in wider areas. requested to give counsel upon topics such as tax liability upon termination of employment. A
service will represent clients to determine the best fit for their needs.
Some tax barristers appear in cases in the Employment Appeal Tribunal, the Upper Tribunal, High Court and Court of Appeal, as well as being instructed in cases before the Court of Justice of the European Union in Luxembourg. A tax dispute resolution practice covers the negotiation and settlement of disputes with revenue authorities, case preparation and management, as well as advocacy in the tax tribunals and higher courts. The advisory side of a tax barrister's practice can include giving opinion on tax aspects of “distressed M&A”, insolvency and restructuring. Some barristers that specialise in tax matters focus on corporate work particularly where there is structuring involved, including in relation to IP and employment related matters. Throughout history war and tax have been intimately related. If war and tax are linked in that way so, by obvious implication, are peace and tax. Peace reduces the amount of tax required to be extracted from an economy. The relationship is almost that simple, and most would think that this outcome would be a good thing. Need
If so, its important to employ the services of a skilled professional?
Once a case gets to court, a barrister needs to present their client’s case in the most favourable light. In many instances, that will involve deploying expert witness evidence. Tax is at the heart of our society. But we do not talk about it, and we do not teach it, and that is little short of a national scandal. The result of this glaring omission is that it is all too easy for some to represent tax as simply a ‘bad thing' that one can only ever want to make as low as possible, irrespective of the consequences. Tax professionals must be willing to embrace change. The pace of change is not slowing down—it’s speeding up. Professionals must adapt, or risk being left behind. You can get extra details appertaining to Expert Tax Barristers in this
page.