Tax Consultancy for Solicitors
We can advise on the tax implications of Corporate transactions, Property transactions, Inheritance Tax and Trusts.
We engage with our clients based on the nature of the client’s transaction, whether it be directly with the client or by you, so you can pass on the advice. Even if there is an existing tax advisor but there is potential conflict of interest in the chain, we can work alongside other tax advisors. We can also offer ‘white label service’ where we work alongside you to assist with your client’s tax affairs.
Corporate Transactions
management buy outs and the buying of a company’s shares. If the normal accountant representing your client isn’t fully versed in the tax knowledge, we can work closely alongside them to guide them with the case. This can again be done as a ‘white label service’ with no potential harm to their current working relationship with their client.
Where there is a potential conflict of interest due to the accountant representing several parties to a transaction (as they might be the accountant for all parties or more than one party), we can work with one of the parties involved to reduce the risk of the other parties changing accountants or solicitors. It can also offer the parties involved comfort in knowing the conflict of interest risk has been mitigated.
Property Transactions
We can give advice on capital gains tax, income taxes, corporation tax, inheritance tax and the Stamp Duty Land Tax repercussions of all property transactions. Our tax advisors can ensure that a full overview of the tax position is provided to give the best possible outcome to mitigate the tax position.
If so, we can assist with capital gains tax issues and our tax advisors can not only provide the relevant tax computations, but also ensure statutory deadlines and requirements are complied with.
We come across this quite often. Sometimes when a client is in the process of selling a property, re-mortgaging a property or during probate. It can seem daunting. However, our ex HMRC staff are experienced in assisting clients and solicitors deal with disclosures to settle outstanding taxes with HMRC with the minimal of disruption and time. Find out more about the Landlords and Let Property Campaign.
Inheritance Tax and trusts
We can advise on methods of minimising IHT for your clients, whether by developing an overall approach to IHT minimisation in specific cases, or advising on aspects of planning you are advising your clients to put in place.
We can assist on ways to reduce Inheritance Tax for clients. We can do this by developing an approach to Inheritance Tax reduction in cases, or assist tax planning with your clients by putting your plans into place.
Issues with HMRC
We are aware that clients will sometimes consult their solicitors when they have disagreements or disputes with HMRC. This is especially true if they feel their accountant is either not specialised in dealing with HMRC or their expertise are inadequate. In these circumstances we can arrange a meeting with your client and/or yourselves on how best we can assist with any tax issues with HMRC. Our tax advisors with their extensive experience can help mitigate any tax liability and achieve the optimum result for the client.
