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I was working in the office last week consulting the archives on London Based Tax Barristers and I penned this post. Tax affects all people and tax barristers act for many different kinds of client: individuals of modest means as well as the wealthy, companies, governments and charities to name a few. As well as being able to explain complex regulations, meet deadlines, and find creative solutions to problems, tomorrow’s tax professional will need to analyse data in real time. The development in real-time tax dashboard and visualisation techniques now means tax professionals can offer game changing opportunities like never before. Professional tax virtuosos could advise on the chances of success before a contentious matter goes to trial. UK tax barristers are trusted advocates before the Tax Tribunals. Their clients, both taxpayer and HMRC, have confidence in thei ability to deliver persuasive arguments and to cross-examine fearlessly on their behalf. A barrister who is an expert on tax matters can provide advice on corporate restructuring and reorganisations (including s.110 Insolvency Act reconstructions, direct and indirect demergers). 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. A barrister spends much of their time in court or advising on particular points of law. They are experts at this and each will have a particular area of law in which they work. A barrister can also be called upon to give their opinion on a particular matter, especially where the cost of taking it to court could be very high. Proficient tax barristers work effectively with clients facing tax challenges, whether these are in their business life, personal affairs or across the two. A technically exceptional barrister is liked by clients because they is always very confident. Expert tax planning advice can lead to significant tax savings, and advice from a tax barrister will help you manage your assets’ tax efficiently. The opinion of a Pensions Advice service should be sort if clarification of the finer issues are required.UK TaxesCuriously, a barrister who is an expert on the subject of tax can provide advice on the merits of an appeal to First-tier Tribunal and internal review by HMRC in respect of an assessment to 15% SDLT by a corporate investor. A barrister generally provides specialist legal advice and represents individual people and organisations in courts and tribunals and through written legal advice. Tax barristers advise in relation to all aspects of disguised remuneration challenge and settlement. They have an in-depth knowledge of so called disguised remuneration schemes and can assist clients with achieving substantially better settlement outcomes. The responsibilities of a barrister will vary depending on the area that they specialise in and where they practice. For example a barrister specialising in criminal law is likely to spend a lot more time in court than a barrister specialising in chancery law. If you are planning significant capital expenditure, a tax barrister or tax advisor may be able to advise you on the best timing to maximise the tax relief available to you. Specialist assistance for Domicile Advice should be sought whenever required.Intriguingly, a barrister who is a specialist on the subject of tax can provide advice on the consideration of the merits of a judicial review of the Upper Tribunal decision to refuse to hear an appeal from the First-tier Tribunal. Tax barristers draft letters to HMRC to put the client’s case as persuasively as possible. A misconception about tax law is that it is very narrow. All cases are associated with tax in some way, but the reality is that tax law requires a barrister to be familiar with every other area of civil law too. Some clients may be of the view that tax counsel should only be instructed when there are very large sums of money at stake. A barrister with pension experience can advise on the UK taxation of Qualifying Non-UK Pension Schemes, draft pension contract and scheme rules for a QNUPS and advise clients in respect of QROPS and QNUPS. A Inheritance Tax Advice service will represent clients to determine the best fit for their needs.Tools AvailableBarristers (who are also referred to as “counsel”) are independent specialists in court work and legal advice. There are specialist barristers in tax, super and associated areas of law. A barrister specialising in tax can offer expert advice on tax issues in non-contentious cases including tax aspects of commercial transactions. Tax barristers deal with investigations or litigation resulting from prosecution by Her Majesty's Revenue & Customs (HMRC, sometimes referred to as 'the Revenue'). This litigation is always conducted against or brought by the government. There are a lot of historic tax avoidance and mitigation schemes being litigated at present. Stamp Duty Land Tax and other transaction taxes are matters a tax compliance expert can assist with. Advisory services such as Tax Barrister are a common sight today.The work of a tax barrister is far from dry, since it involves large amounts of money that are hotly fought over, and subtle distinctions on which much can turn. Losing for the taxpayer can mean bankruptcy or insolvency. HMRC is not always right and it would be quite inaccurate to assume the taxpayer has always done something wrong. Some barristers maintain specialist practices as sole practitioners and others are employed by solicitors’ firms, either as part of an in-house advocacy department or generally as part of a legal team working in a particular area of the law. 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. One can uncover further insights on the topic of London Based Tax Barristers at this article.Related Articles:What Are UK Tax Barristers And Why Is This Subject Critical To You? What Are 4 Favourable Reasons To Use Expert Tax Barristers? 8 Factors To Think About When Choosing Tax Barristers
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