Corporate
Our team is well placed to work with clients when they are seeking to make a decision in choosing the form of entity they use. We provide the crucial tax advice surrounding these decisions and regularly advise organisation on whether or not to incorporate, joint venture/partnership structures and on the use of limited liability partnerships. We also advise clients on how best to structure the provisions of the funding for the business.
Working hand in hand with our client and colleagues dealing with the acquisition or disposal of the company, we ensure that the way in which the transaction is implemented reflects the strategic tax advice that we provide and deals with negotiation of tax indemnities and warranties.
We understand that though inevitable, change is always difficult to handle. We regularly guide clients through the tax implications and efficiency when undergoing a business restructuring. Our experience varies from advising on a relatively simple arrangement, such as the introduction of a new holding company / group structure, or on a more elaborate restructuring, sometimes to split an existing group between two groups of shareholders or to split a group up so that different areas of business can operate independently. In each case we provide the relevant tax advice, secure any necessary tax clearances from HMRC and oversee implementation of the restructuring to ensure consistency with the advice.
We regularly advise international businesses looking to expand into the UK or to use the UK as part of its structure, and provide them with advice on the appropriate business structure (e.g. branch or subsidiary), group financing and capitalisation arrangements, profit repatriation issues, avoiding double taxation liabilities and withholding tax problems, employment tax issues and value added tax issues.
Our team understands the tax benefits of enterprise and seed enterprise investment schemes and venture capital trusts. We regularly support numerous start-up and early stage businesses to secure tax efficient funding through these schemes; to secure pre-investment approval of HMRC as to SEIS and EIS status; and to deal with post investment enquiries made by HMRC.
Our extensive expertise in advising on equity incentives and ownership structures for key managers, including advice to management teams in private equity backed transactions, is second to none. We also provide advice on carried interest structures. We navigate our clients through the complex “employment related securities” rules to find the optimum means of providing equity participation for management.
Our experts understand that successful CGT often depends not just on the structuring of an exit but also on managing the tax position when the shares are first acquired. We provide advice when shares are originally acquired with the aim of securing tax efficiency for any future exit. We also advise on the structuring of the exit, to include advice on specific issues involved with payment of deferred consideration and use of loan notes and structuring earn-outs.
Today’s political climate has led HMRC to be under more pressure than ever to be seen to be clamping down on organisations and individuals suspected of improperly handling their tax affairs and those advising them to do so. We understand the process and the importance of having one’s tax affairs in order. We regularly provide our clients with advice in relation to COP9 investigations, and both criminal investigations and prosecutions. We have also successfully advised clients on statutory tax appeals within the Tax Tribunal.
Our experts are regularly called upon to advise clients on the UK tax issues associated with cross border corporate transactions or with commercial projects which have an international dimension and we regularly assist with the identification of potential issues in other countries and project manage the provision of tax advice from advisers in those countries.
Our dedicated tax team understands that commercial arrangements which involve licence fee or royalty payments, particularly when involving a cross border element, give rise to the need to consider issues such as the application of withholding tax rules and the application of value added tax. We advise on such matters, including as to solutions available under applicable Double Tax Treaties and means of minimising potential problems through the drafting of the relevant agreements.
Our experts have acted for a number of P2P platforms to identify issues and successfully find solutions to those issues, sometimes including approaches to HMRC in order to agree a pragmatic approach which respects the tax rules but which also takes account of the practicalities of operating a P2P platform.
We work closely with our real estate experts to identify the specific tax issues that arise where property interests are to be transferred as part of a corporate transaction or where corporate structures are being considered for a property project.
Dispute and Litigation
Our extensive expertise in tax disputes places us in a position to adequately assist our broad client base in appealing HMRC decisions from the initial appeal to HMRC, all the way through to the tax tribunal system and, if necessary, to the appellate courts.
Today’s political climate has led HMRC to be under more pressure than ever to be seen to be clamping down on organisations and individuals suspected of improperly handling their tax affairs and those advising them to do so. We understand the process and the importance of having one’s tax affairs in order. We regularly provide our clients with advice in relation to COP9 investigations, and both criminal investigations and prosecutions. We have also successfully advised clients on statutory tax appeals within the Tax Tribunal.
Our team of competent tax experts regularly advises clients on disputes relating to all direct and in-direct taxes including corporation tax income tax, national insurance, VAT, Stamp Duty and Customs duties.
We have vast experience in dealing with tax disputes and litigation. We understand that in sometimes a statutory appeal is not possible, in these circumstances we are able to guide our clients through the judicial review process.
Employment
The decision as to whether to hire somebody as an employee or on a self-employed status is crucial in terms of tax requirements, even if it can be confusing. We regularly advise our clients on classification issues relating to PAYE and assist with supporting the case for self-employment to aid in limiting PAYE exposure.
Our team has considerable expertise in guiding cross border organisations through the plethora of issues relating to tax arising from the PAYE system including income tax and national insurance contributions and help in the consideration of Double Tax Treaties and other European regulation.
We understand the complex regulations surrounding the PAYE and national insurance systems and how this affects businesses of all sizes. We guide our clients on any issues that may arise with these including where non-cash benefits may be provided, termination payments are made, director payments are made, and any other matters. We also have vast experience in dealing with all matters of cross-border issues relating to PAYE and NI regulations.
Pensions are fraught with tax implications and structuring them adequately should be a priority for organisations and individuals. We regularly work with organisations in ensuring that their pension schemes are structured to be as tax efficient as possible. Our qualified experts have a wealth of experience of advising on pension issues relating to TUPE transfers, compromise agreements and other employment related matters where pensions may be affected.
Our experts are well versed to advising clients on the tax implications when an individual is engaged via an intermediary company or “personal service company”. They understand the importance of identifying where PAYE responsibilities fall and have particular expertise in dealing with tax rule matters such as IR35 rules and work in tandem with their clients to ensure that all HMRC obligations are met.
Whilst many forms of remuneration planning have been scrutinised of late and legislated against, tax benefits is one area where employees can still benefit through the use of specific forms of arrangement. We regularly advise businesses on their remuneration policies and ensure that all documentation relating to the arrangement reflects the relevant tax principles.
Incentivising staff is an important part of business management. We advise organisations on how to incentivise their employees through tax efficient share schemes including share incentive plans, also known as SIPs, as well as bespoke share schemes. Our bespoke schemes are tailored to the desires of a particular client and can lead to any legal option including implementing joint share ownership plans or introducing cash profit sharing plans.
The termination of a contract and the subsequent drafting of a mutually beneficial compromise agreement is no easy feat. Ensuring that the termination of a package is tax efficient for both the employer and employee can help speed up the process of securing the agreement. We regularly advise on applicable tax rules and opportunities to maximise the tax efficiency for both parties and work closely with the client to ensure that all relevant tax issues are reflected in the final settlement agreement.
