Tax professionals consider all commercial, legal, regulatory and tax aspects to ensure efficient planning and implementation, and are best placed to advise on the law, its purpose, scope and ambit and how clients can comply. Barristers, clerks and staff are committed to the highest levels of service to their clients. Pensions barristers regularly assist clients in connection with regulatory actions initiated by the Pensions Regulator and act for trustees, employers and representative beneficiaries in connection with applications for court directions or declarations in relation to pension scheme documents. Some tax barristers act on behalf of clients in resolving disputes with HM Revenue & Customs. Disclosures by third parties e.g. the Panama Papers and the Paradise Papers and how to manage may be matters which an experienced tax barrister may advise upon. A competent tax barristers expertise might involve providing advice to companies regarding obtaining the benefits of reliefs against the 15 per cent rate of SDLT and the possibilities of claw back.
Practised barristers can help manage your tax disputes strategically, efficiently, fairly and with reduced risk to your reputation. Pension schemes provide a great opportunity to utilise tax efficient options in relation to contributions, growth and payments out, from a scheme. Despite this, statistics continue to show low levels of confidence in pension schemes. Some tax barristers regularly consult on tax compliance and other technical tax issues. If you are under investigation by the HMRC, you should seek immediate legal assistance. Due to the level of the allegations being made against you, we understand that any investigations being carried out by HMRC can be both daunting and confusing. You will therefore require expert help from a legal team who specialise in tax law. Professional help by any Inheritance Tax Advice service will provide value for money.
An Active Practice
A pensions barrister can guide other pension professionals (and lawyers) through complicated pension law issues. Property tax, sometimes known as an ad valorem tax, is imposed on the value of real estate or other personal property. Many barristers specialise in this area of law. I think tax should be a compulsory part of the school curriculum. Our collective ignorance about tax has to be banished, and along with it the negative attitude that prevails. Only education can do that, and it's fundamental if we're to have really informed decisions on tax. A tax barrister can advise on pension disputes and appeals concerning access to ill-health retirement benefits. Most taxpayers just aren't motivated enough to do something about paying less tax. And it's just not that difficult to identify strategies or ideas that will work for you. Advisory services such as Tax Barrister are a common sight today.
Negotiation and settlementent with HMRC (including ADR scheme) are an area of HMRC tax investigations that tax barristers can assist with. Barristers often take the question of whether a witness is appropriately qualified as a given, although it is always worth checking. Knowledgeable barristers advise clients in the delicate tax audit management stage and in reaching an agreement with the tax authorities, applying the appropriate dispute resolution procedures. In most countries, tax barristers operate as sole practitioners and are prohibited from forming partnerships or from working as a barrister as part of a corporation. Tax barristers can assist in the areas of establishing and structuring family trusts. All professionals involved with Pensions Advice have a duty to be confidential.
Tax Disclosures And Investigations
From advising on the correct tax treatment of a transaction to drafting Notices of Appeal disputing tax and penalty assessments, representing clients in tax appeals and negotiating settlements, a tax barrister is able to assist with all contentious and non-contentious tax problems. Exploitation of intellectual property rights is a matter which an seasoned tax barrister may advise upon. If you are the client of a solicitor but they have appointed a barrister to work on your case, the barrister still has to behave in the right way towards you. The quality of evidence in tax matters is often a key factor, particularly where questions of a taxpayer’s intention are in point. Some United Kingdom tax barristers are able to undertake tax arbitrations either as counsel or arbitrator. As you may be aware, the best Domicile Advice service can give advice in relation to their area of knowledge.
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. A prospective barrister must complete a program of academic study and undergo vocational and professional training (pupillage) and must satisfy certain traditional requirements, such as attending a specified number of formal dinners at the respective inn. Tax specialists and tax barristers are like allies working alongside each other rather than competitors. Tax work is becoming ever more complex and specialised and there is a part to play for both tax specialists and tax counsel. Check out additional info on the topic of UK Tax Barristers in this entry.
Related Articles:
What Are UK Tax Barristers And Why Is This Subject Critical To You?
The Value Of Specialised Tax Barristers
6 Things You Should Think Over Regarding Expert UK Tax Barristers