I was working in the living room yesterday looking into Specialised Tax Barristers and I set down this blog post.
Previously, HMRC has given taxpayers the opportunity to report tax on any undeclared income. Many of these voluntary initiatives have ended and HMRC will take tougher action on taxpayers who haven’t updated their tax affairs. There are some things that a barrister cannot do on your behalf and which you will have to do if you do not have a solicitor. This may include filing documents with the court and paying court fees. Tax barristers can provide advice on capital allowance relief - including assisting with negotiations and procedural requirements. So far as individual taxpayers are concerned, there is no evidence that the appetite of high-net-worth individuals for tax avoidance has diminished, even though anti-avoidance legislation has closed down many opportunities. This remains a cause for concern by HMRC. Tax exemptions, GST, Deductible gift recipient (DGR) endorsements, fringe benefits tax concessions, state/territory tax exemptions and concessions are all areas which the top tax barristers would be able to assist in. Attention to detail and strong research skills are important tax barristers.
Some tax barristers have specialised in tax disputes throughout their time as a barrister. You can gain advice from a tax barrister if you are about to sell your business or about to purchase one. Some barristers have experience in cases involving significant wealth including pre-marital and inherited wealth, complex businesses, pension arrangements and multiple properties. Having the right tax barrister is not just about making sure they work in the right area of law. A good barrister will speak to you in a way you can understand and will make you feel that you can trust them. All professionals involved with Pensions Advice have a duty to be confidential.
Tax work requires expertise, and expertise requires specialisation. Qualified tax virtuosos are able to advise on any tax dispute. Barristers will normally put the needs of their client first and look for client focused solutions. Many tax barristers offer first-class advice and litigation concerning all tax issues relating to residence and Domicile (individual and corporates). A tax barrister can advise on how best to structure a sale or purchase of a business (e.g. whether a sale benefits from entrepreneurs’ relief). A Inheritance Tax Advice service will represent clients to determine the best fit for their needs.
Barristers require a high level of intellectual ability and must be fluent in written and spoken English. They need to think and communicate well under pressure, have stamina and emotional strength. They must marshal and analyse large amounts of information, apply the law to the facts, present legal arguments persuasively in court, and more. More than a few United Kingdom tax barristers deal with investigations or litigation resulting from prosecution by Her Majesty's Revenue & Customs (HMRC, sometimes referred to as 'the Revenue'). Barristers mainly receive instructions from the solicitor about the client’s case and then prepare to represent the client in court when they give live evidence. Tax barristers provide expert advocacy at all Tax Tribunal and Court hearings. Dealing with an HMRC tax dispute can make you feel like David facing off against Goliath. Yet, having an expert advisor by your side who understands the process and knows HMRC well makes staying compliant easy. Advisory services such as Domicile Advice are a common sight today.
First Class Tax Lawyers
Establishment of charitable institutions, public foundations, trusts and funds are all matters which the top tax barristers would be able to assist in. Chamber members are well known and well respected by the judiciary, instructing solicitors and fellow members of the Bar as being user friendly, well prepared, thorough and skilful in both their advocacy and in respect of paperwork. Tax barristers can provide guidance on indirect taxation issues such as VAT, customs planning and environmental taxes. The best tax barristers recognise the requirements of the client for sensible and robust advice and representation. Barristers are able to advise on all aspects of solvent and insolvent corporate restructuring, including administrations, CVAs, restructuring plans and schemes of arrangement. The opinion of a Tax Barrister service should be sort if clarification of the finer issues are required.
As the use of technology and data analytics tools becomes more prevalent within the Tax function, ridding Tax of tasks that previously were performed by humans, the function will be expected to add value in other ways. Tax barristers specialise in courtroom advocacy, specialist legal advice, representing clients in court and through written advice. Unlike solicitors, who have a lot more direct access to their clients, barristers are rarely hired by clients. Solicitors will mostly instruct barristers on their clients behalf. Some advocates are greatly respected and highly experienced in tax cases, having been involved in many key precedents. Get additional facts appertaining to Specialised Tax Barristers at this link.