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 offer all relevant tax advice for such transactions, including the most appropriate “demerger” method and obtaining relevant clearances.

We work alongside solicitors to ensure they can manage all relevant legal issues and documentation required 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, allowing different family members to drive different parts of the business.

Background and Issue

Recently the Government introduced the residence nil rate band. This has led to many clients reviewing their IHT position. One particular area of concern is the interaction of Business Property Relief and this new relief, as it is restricted when the estate exceeds £2 million.

We have worked closely with a number of solicitor contacts to raise awareness of this issue and ensure clients are protected.

Background and Issue

As businesses grow, they need to keep their structure under review to ensure it remains tax-efficient. We work closely with solicitors to ensure transfers are carried out properly using business transfer agreements.

We also assist partnerships with advice on retirements and the appointment of new partners. This leads to joint work on Deeds and agreements to ensure the partnership is correctly documented.