Practical and commercial tax advisory and support services for both individual and businesses.
Tax is an all pervasive topic which impacts all commercial businesses and transactions. It is often one of the largest costs incurred in relation to a transaction but is not necessarily managed or reviewed to the same degree as other costs.
One of the reasons for this is the complexity of the UK tax system, which is constantly evolving to adapt to changing commercial practices and developments. The highly technical nature of the legislation, coupled with the fact that the precise tax implications will often depend upon the individual facts and circumstances, often results in the tax consequences not being considered until a late stage (sometimes even after the fact) at which point there may be little that can be done.
Failure to keep pace with changes to the tax code and the latest developments is a key business risk with potential adverse financial implications, whether through the imposition of interest charges and penalties due to resultant compliance failures or by virtue of not taking advantage of all applicable tax reliefs and exemptions.
Timely tax advice on the other hand can generate significant cost savings, a real tangible benefit providing measurable added value. The earlier, however, you think about the tax position and seek advice the greater the opportunity to save costs and deal with any issues.
We understand, particularly in a field such as tax, the need to provide commercial not just technical advice. Our approach is to cut through the technical language to get to the heart of the issue, discuss the relevant options with you and provide practical, commercial advice. We do not advocate aggressive tax planning structures and we do not lose sight of the fact that tax is just one of many components that fit within a wider picture.
As well as offering stand-alone advice, our team works closely with other practice areas and can liaise with your other advisors to help deliver a co-ordinated approach.
We can also assist with the implementation of any transactions, ensuring that the contractual documentation is drafted appropriately so as to ensure the desired tax effect.
What we do - examples
In terms of the types of work and transaction where we can assist these include:
Corporate transactions (mergers, acquisitions, reorganisations and investments)
- investments in, and acquisitions and disposals of, companies and businesses
- pre and post sale reorganisations
- the preparation and submission of tax clearances
- the tax treatment of disposal proceeds (Entrepreneurs’ Relief)
- investment reliefs (EIS and VCT)
- private equity investments (tax advice to the PE house or management team)
- the structuring and implementation of corporate reorganisations, reconstructions and demergers
Real Estate transactions
- SDLT, VAT, Capital Allowance and Construction Industry Scheme implications of any property transactions (and the drafting of the relevant contractual provisions)
- tax efficient property acquisitions and disposals
- the tax implications of lease grant, assignments and surrenders (including tenant incentives)
- TOGC (transfer of going concern) issues
- The tax efficient structuring of development agreements
- the establishment of property investment vehicles
General tax planning and advisory services
- the structuring of compromise / settlement agreements
- flexible benefits and salary sacrifice arrangements
- employment status and IR35 issues
- the tax issues and reliefs on incorporation and disincorporation
- joint ventures and public / private sector partnerships
- shareholder disputes and tax related professional negligence claims
- taxation of charities (including charitable Registered Social Landlords)
If you have any queries or would like any further information please contact our tax partner, Haydn Rogan.