A Handful Of Opinions About Tax Barristers That You May Not Have Considered - 6 minutes read

What exactly is one truly essential element about the top Tax Barristers organisations that makes them run rings around the crowd?

A tax barrister may get involved in some areas of VAT and capital allowances and corporation tax 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. There are no special qualifications needed to be a tax barrister. Like any other barrister, a tax practitioner has to be bright, hard-working, practical and able to absorb and analyse considerable volumes of information very quickly. A tax barrister offers bespoke, tailored Tax advice and representation in all levels of case and complexity (including GLOs) to solicitors, accountants, company directors and individuals. A barrister, who can be considered a jurist, is a lawyer who represents a litigant as advocate before a court of appropriate jurisdiction. A barrister speaks in court and presents the case before a judge or jury. M&A tax barristers are particularly adept at providing practical guidance on tax-efficient acquisition structuring, the tax position of selling shareholders, structuring of private equity transactions and pre- and post-sale restructurings.

Tax Barristers

Pay as you go means that taxpayers must pay their taxes so that by the end of each quarter, they would have made enough tax payments to match up to their estimated tax obligation. Most taxpayers pay taxes through payroll withholdings and do not need to worry about calculating and filing quarterly tax payments. Many tax barristers have years of experience working with clients in civil and criminal tax disputes with HMRC, challenges to tax avoidance schemes, action against advisers who mis-sold aggressive tax avoidance schemes, and in cases of financial crime. Tax and matrimonial proceedings is an area that a tax barrister could advise on. The changes in tax law can bring a burdensome complication and difficulty to the modern taxpayer’s private and commercial life, whether a company, trustee or an individual. In turn, the taxpayer obviously requires highly skilled and competent legal advice. Advisory services such as Tax Barrister are a common sight today.

International Tax Disputes

A UK tax barrister is focused on the UK tax system so the skills are not easily transportable to other jurisdictions, but one could say that about many areas of law. Setting up and administering UK trusts can be advised upon by a tax barrister, as can succession planning and drafting wills. Clients with business interests and personal wealth in the US and the UK are required to navigate two complex and very different tax systems. Successful wealth planning for such clients requires the lead advisor to be "ambidextrous" in that they understand the tax treatment of a proposed transaction in both countries simultaneously. QC or “Silk” has traditionally been the recognition of a Barrister who excels in the field of advocacy. This does not mean that someone who has not taken Silk and remains a Junior is any less successful, able or experienced in his or her field. It is simply that their practice and expertise has been concentrated in advisory work rather than litigation. Everyone appreciates a tax enquiry or investigation from HMRC can be a daunting prospect. Long-serving tax barristers regularly work with clients and their professional advisors to ensure they can deliver the best possible outcome whilst maintaining sensitivity at all times. Professional help by any Domicile Advice service will provide value for money.

Tax law is an important ingredient of literally every commercial, corporate or personal transaction. The members of chambers are highly attuned to commercial considerations and priorities, as much as legal requirements, of instructing solicitors, in-house lawyers and lay clients and pride themselves on providing a client-focused service, working as part of a legal team to achieve a common goal. Seasoned tax specialists can advise on the amounts of tax due to HMRC. Many barristers work from anywhere, attending tribunal and court hearings by video or in person. We specialise in a number of tax-related areas of expertise, including stamp duty, financial crime, tax investigations and tax avoidance schemes. Foreign property barristers advise on all UK legal and tax consequences of purchasing and selling or inheriting overseas properties, particularly properties across Europe and the US. This includes structuring the ownership, cross border estates planning and property transfers on divorce. A Inheritance Tax Advice service will represent clients to determine the best fit for their needs.

Tax Affects All People

The idea that tax is something that is simply of concern to individuals is just wrong. It's appropriately charged on any body with the necessary property rights. The services of tax specialists range from personal wealth management, UK and international tax planning and asset protection to advising family offices, family businesses and fiduciaries on their clients’ diverse issues. Professional tax specialists can advise on the merits of a taxpayer's case. Barristers are lawyers, but not all lawyers are barristers. As you may be aware, the best Pensions Advice service can give advice in relation to their area of knowledge.

EU law, in particular cross-border financial and commercial transactions including technology licencing, and corporate cross-border mergers, demergers, acquisitions and joint ventures is an area that a UK tax barrister might specialise in. Barristers are regulated by the Bar for the jurisdiction where they practise, and in some countries, by the Inn of Court to which they belong. In some countries, there is external regulation. Tax law is part of public law. It covers the application of existing tax laws on individuals, entities and corporations, in areas where tax revenue is derived or levied, e.g. income tax, estate tax, business tax, employment/payroll tax, property tax, gift tax and exports/imports tax. Get more facts on the topic of Tax Barristers at this article.

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