Innovation in ways of collecting tax resulting in conflict and dispute appears to be a part of the history of the medieval period. It is a theme that survived the Dark Ages and is still prevalent today. Pensions barristers can advise on all aspects of pensions law and regulation and specialises in all aspects of UK and international pensions law, including MA, employer and trustee advisory work, international elements such as cross-border membership and asset pooling, and advising investment providers on products and funds. Getting to grips with complicated tax concepts can be a little daunting. Residency and domicile tax investigations are an area of HMRC tax investigations that tax barristers can assist with. Tax barristers advise businesses and their owners on all aspects of tax in the UK, helping them achieve their commercial objectives in a tax efficient way. Overseas Lawyers may instruct Barristers directly in order to provide legal advice. Members of chambers may also be instructed directly in any International Arbitration and various Court proceedings, both domestically in UK or internationally.
Corporate tax barristers are very well paid, treated with reverence by their colleagues and find intellectual stimulation in their work. Avoidance of Income Tax, Capital Gains Tax and National Insurance Contributions has declined by more than half since 2005-06, falling from £1.5 billion to £0.7 billion. The advisory side of a tax barrister's practice can include giving opinion on debt restructuring (including the tax treatment of debt-for-equity swaps, debt buy-backs and subordination). 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. A Tax Barrister service will represent clients to determine the best fit for their needs.
A tax barrister can be retained to represent clients before tax authorities and tax courts to resolve tax issues. If an individual transferred their employment income to a company and did not subsequently withdraw it by way of salary or dividend, then under flat tax proposals that income would go completely untaxed for as long as it remained within the company, which could be for an indefinite period. Corporation Tax and VAT disputes are matters that a barrister can give an opinion on. Some tax policy is based on inadequate information about cost, both the administrative cost to the business and the full cost to the economy. Barristers that are experts in pensions matters advise organizations with respect to legal issues associated with the establishment of shared risk and target benefit plans. Specialist assistance for Domicile Advice should be sought whenever required.
Tax barristers draft key documents for a wide range of transactions. These include, contracts and trust documentation and wills. Tax impacts our lives and society in more ways than you’d ever imagine. In-house lawyers can instruct a barrister to undertake work on behalf of their company or organisation. Instructing the Bar direct can provide a cost-effective way of obtaining specialist advice and advocacy services. Finance and insolvency is a constantly evolving market. Tax barristers are well-known for their strategic thinking and commitment to understanding the changes and reacting to clients’ needs accordingly. There are new powers bestowed on HMRC to demand tax up front, before an appeal, in certain avoidance cases; and even – essentially – without an appeal in other avoidance cases. This has brought tax law and public law close together. As you may be aware, the best Inheritance Tax Advice service can give advice in relation to their area of knowledge.
Tax experts have in-depth knowledge of all aspects of cross-border investment; the laws of multiple jurisdictions; and the use of offshore trusts and corporate structures for asset protection, privacy, security and how these issues relate to a business. A barrister who is an expert in Stamp Duty Land Tax may also be able to advise on company trusts. Much of the tax work of commercial barristers is on behalf of private clients, trustees and small-to-medium-sized businesses. Administration and benefit queries is a matter that a pension barrister will have experience in. As well as a clear indication of the advice required, instructions to tax barristers should include an indication of the amount of money involved. Professional help by any Pensions Advice service will provide value for money.
Tax advisors may be trained as accountants, lawyers, or financial advisors, or may work as a team consisting of two or more types of professionals. Some barristers work in all areas of corporate insolvency law, including administrations, liquidations receiverships and company voluntary arrangements. Some tax barristers have a special interest in the taxation of cryptoassets and asset finance related transactions. Discover extra intel relating to UK Based Tax Barristers at this web page.