Tax Consultancy working with lawyers

Background and Issue

We work alongside solicitors in respect of company sales and purchases including the review of all relevant legal documents in relation to taxation, and tax advice on the structure of the transaction.

In respect of asset purchases and sales we provide advice on the most appropriate split of the consideration and advise on issues such as capital allowances and VAT.

What we did for the client

Recent transactions include advising on the purchase of filling station sites for a client and working alongside solicitors to advise a client of theirs in respect of the most tax beneficial way to raise finance.

Background and Issue

Often a company or group of companies wish to split or “demerge” for commercial, tax or family reasons.

We can offer all the relevant tax advice with regard to such transactions including advising on the most appropriate “demerger” method and obtaining the relevant clearances.

We work alongside solicitors in relation to such transactions such that the solicitor can deal with all the relevant legal issues and documentation to facilitate the split.

What we did for the client

In recent times we have worked collaboratively on demergers to separate investment and trade activities and to allow family owned businesses to be split to allow different family members to drive different parts of the business.

Background and Issue

Recently the Government announced the introduction of the residence nil rate band from April 2017.  This has led to many clients reviewing their IHT position.  One particular area of concern is the interaction of Business Property relief and this relief as it is restricted when the estate exceeds two million.

We have worked closely with a number of solicitor contacts to raise awareness of this issue.

Background and Issue

As businesses grow they need to keep their structure under review to ensure that it matches their needs and is tax efficient.  We have worked closely with solicitors to ensure that transfers are carried out properly using business transfer agreement etc.

We also have a large number of partnerships who need advice on retirements and appointment of partners.  This has led to joint work on Deeds and agreements to ensure that the partnership is correctly documented.