Tax advice

Tax affects all commercial businesses and transactions. It's often one of the largest costs of a transaction, but isn't always managed to the same degree as a lot of the other costs. This is partly due to complexity of the constantly evolving UK tax system. Very technical legislation, combined with the impact of individual circumstances, can often mean that a proper review and consideration of the tax consequences are left until late on, when the options may be limited.

We provide practical and commercial tax advisory and support services for individuals and businesses including advice in relation to:

  • Corporate transactions (mergers, acquisitions and reorganisations) 
  • Investments and accessing investment reliefs (EIS and VCT) 
  • Property transactions (ranging from residential and commercial property investments to lease renewals and surrenders, joint ventures and development projects) including SDLT issues arising
  • Joint ventures and public / private sector partnerships 
  • Shareholder disputes and tax related professional negligence claims 
  • Employee share schemes and incentives; and 
  • Employment status issues

Particular areas of specialism and expertise within the tax team include:

  • Advising on the design and implementation of employee incentives; 
  • Advising on tax efficient corporate restructurings including demergers and capital reductions;
  • Providing legal tax support to other professional advisers; 
  • Working with public sector bodies to provide tax efficient models for joint ventures and collaborative operations. 

Failing to keep pace with changes to the tax code is also a key business risk that can cost, through interest charges and penalties from compliance failures or by missing tax reliefs and exemptions. Timely tax advice can generate real cost savings, a benefit providing measurable added value.

Considering the tax position and seeking advice at the outset, before the structure or terms of the transaction are agreed will increase the opportunity to save costs and manage any risks. We have helped to restructure numerous corporate and property transactions for our clients that have delivered millions of pounds worth of tax savings and reliefs. 

We understand that you need commercial as well as technical advice. We cut through the complex technical language to get to the heart of the issue, discuss the relevant options with you in plain terms and provide practical advice. We also help to implement transactions to ensure that the contractual documentation is drafted so as to achieve the desired affect. What we don't do is advocate tax avoidance structures (that promise big savings only to result in lengthy disputes with HMRC and reputational damage) or forget that tax is just one aspect of the bigger picture.

As well as offering stand alone tax support and advice, we also work closely with other practice areas and other advisors to provide a coordinated approach. For example, on the sale by an individual of shares in a trading company or group, it is important to also consider the inheritance tax implications and in this respect we work closely with our Wills, Trusts, Tax and Probate (WTTP) team who can provide advice on inheritance tax and succession planning arrangements that will help reduce or eliminate future inheritance tax exposures. 

With the reduction in corporation tax rates we have also seen a rise in the use of family investment companies (FICs) as an alternative to discretionary trusts as a means of passing wealth to children whilst still retaining control over the relevant cash and assets.

Weightmans appointed to government legal services panel

National law firm Weightmans has been appointed to the government’s Crown Commercial Service (CCS) Wider Public Sector Legal Services panel.

Martin Forshaw
Martin Forshaw Partner
LEGAL COMMENT: Shake-up of inheritance tax system promised by new government report

In January 2018, the Chancellor asked the OTS to carry out a review of the UK’s Inheritance Tax (‘IHT’) regime, covering a broad range of…

David Stokes
David Stokes Associate

Entrepreneurs’ Relief – Post Budget 2018

Entrepreneurs’ Relief is a tax relief that applies to the sale of certain qualifying business assets and which operates so as to apply a rate of…

Haydn Rogan
Haydn Rogan Partner

Budget 2018 - Weightmans' View

Chancellor Philip Hammond delivered his final Budget before Brexit today (Monday, October 29), his second budget of the year.

Haydn Rogan
Haydn Rogan Partner

A change is coming but how much change will business rate payers be left with?

In February this year, the Government completed their consultation on business rates following the effects of the decision in Woolway v Mazars.

Dealing with sale proceeds of a business

A look at the personal estate planning issues which arise following a sale and the tax implications of selling your business.

Richard Bate
Richard Bate Partner

The employee shareholder

A look at some of the benefits, as well as some of the associated practical considerations, for businesses which are considering bringing employees…

Haydn Rogan
Haydn Rogan Partner

Group structures

A look at the ways in which you can structure your company and some of the reasons for, and potential tax benefits of, using group structures.

Haydn Rogan
Haydn Rogan Partner

Share on Twitter