Tax

If you are looking for a tax specialist who can combine the practicalities of legal documentation, tax and compliance as a seamless service, we could be a good fit.

It is taken as read that we know the law and can produce clear documents. The extra layer of skill we offer, over and above this, is the ability to review your tax affairs and identify and correct any problems which could otherwise result in an HMRC challenge.

We always explore with clients the best and most cost and tax efficient solution.

Benefits of working with our tax specialists

We have solicitors who are members of the Chartered Institute for Taxation and the Chartered Institute of Accountants.

• Many of our clients are referred to us by their accountants for work such as business restructuring, reorganisations and share buy backs, as the accountants know this is a specialist area where it is easy to go wrong if you are not familiar with the relevant requirements.
• Our focus is on private companies, their directors and shareholders.
• Our ability to consider the financial aspects and accounts is a benefit for getting businesses into shape and ready for eventual sale.

Specialist services

Below are some of the common instructions we receive:

• Tax issues for shareholders – Business Assets Disposal Relief (entrepreneurs relief), Investors relief, tax on the sale of shares acquired under EIS or SEIS, capital gains tax, tax on deferred consideration and earn outs, income tax issues for employees provided with shares. Last year we completed over 60 share buy back agreements, including obtaining advance clearance from HMRC and dealing with deferred payment terms.
• Tax issues on business restructuring – we scope the steps needed to implement the desired structure, whether a demerger or other structure such as group or holding company structure, with the intention of transactions being tax neutral if approached correctly.. Steps include obtaining HMRC clearance where applicable. Savings are achieved for our clients as when we come to draft the documentation we understand the steps to be implemented.
• Employment taxes and liabilities under IR35 – we advise on tax issues associated with workers, employees, directors, consultants and contractors.  The PAYE regime is particularly important for those who fail to operate the required tax and national insurance withholding obligations.
• Shares and options tax aspects – advice and support for employers, directors and employees on the award of options or shares, exercise and sale of shares.  We cover design and implementation, with particular expertise in EMI options, unapproved options and growth shares. If you need support in establishing the taxable value of shares in private companies, securing agreement with HMRC and dealing with the complex tax reporting obligations to HMRC on the provision of shares to employees and directors, we can help.