I recently watched a YouTube video about the aptness of Specialised Tax Barristers and would like to share what I discerned from it with you in this blog post.While you will more often see barristers in court than in the boardroom, the role of a barrister is continuously changing and increasingly more work happens outside the courtroom. Many barristers specialise in one area of the law, although some may have a more general practice covering a variety of areas. Should there be a dispute between HMRC and a taxpayer, a tax barrister will have significant experience in managing and litigating tax appeals and can provide strategic, technical and procedural assistance from the moment an assessment or decision is received through to the final appeal hearing or settlement negotiations. For any person who thinks their tax situation is not complicated enough, they should immediately reject that idea. Complexity has no direct relationship with tax savings. Some barristers have a broad practice encompassing both litigation and investigations. Everyone’s personal situation is different, and so are their taxes. 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. Most barristers are self-employed and many work from sets of chambers which are simply their offices. Employment-related taxes and employee benefit trusts are matters that a tax barrister can give opinions on. The attention to detail in some cases can involve many hundreds of thousands of documents. Therefore the case management skills of the barrister and their cross-examination and advocacy techniques need to be unrivalled and lead to notable successes over the years. Early legal advice helps address problems before they escalate and can prevent cases going to court unnecessarily. As you may be aware, the best Pensions Advice service can give advice in relation to their area of knowledge.Corporate And Commercial TransactionsTax investigations into individuals are an area of HMRC tax investigations that tax barristers can assist with. Many tax professionals have substantial experience of working in the international tax-planning arena and using well-established planning principles to help businesses manage down their effective tax rate. Tax law can be very complex and confusing; hence a strong background in academic excellence is a must. Tax barristers require exceptional skills in analysis, communication and negotiation. The services of a barrister can include providing an objective review of each SDLT reclaim case, providing clients with confidence that they either have a legitimate case or they do not, managing all correspondence with HMRC, and ensuring that they have proper representation if pursuing conveyancers for negligence. In the UK, the role of barristers is to be specialists in court advocacy and independent sources of legal advice to their clients. UK barristers are most likely to be self-employed and working in chambers. Any Domicile Advice service will not reveal what he or she has been told to anyone else.Tax barristers understand the tax issues that may affect clients at the corporate, director, shareholder and individual level. They help clients make the best use of tax efficiencies and savings through strategic advice tailored specifically to their individual requirements. Only barristers may appear as advocates before the High Court. They are known collectively as the bar, and it is from their ranks that the most important judicial appointments are made. Fascinatingly, a barrister who is an expert on tax matters can provide advice to clients in respect of SDLT and VAT on property acquisitions. As a tax barrister, you have the opportunity to learn from the best in the field while simultaneously developing your own skills – and sometimes the cases that you get to do yourself are just as complicated and valuable as others in which you are led. Throughout history war and tax have been intimately related. If war and tax are linked in that way so, by obvious implication, are peace and tax. Peace reduces the amount of tax required to be extracted from an economy. The relationship is almost that simple, and most would think that this outcome would be a good thing. Advisory services such as Tax Barrister are a common sight today.In-depth Analytical ExpertiseLocal and other indirect taxes is a matter that tax barristers can give counsel on. Global wealth and global lifestyles can make managing taxes incredibly complex. If you have assets and investments in different countries, your wealth is affected by a variety of different tax regimes, regulations, and cultural issues. Ex-pats, non-doms, and foreign nationals living in the UK are all affected by international tax law too. The government’s new Finance Act 2021 has provided HMRC with a range of new powers to act against and penalise those who promote or market tax avoidance schemes for more information contact our UK tax advice team. Your pension is quite probably the most valuable investment you have after your home; so you really can’t afford to leave too much to chance when your future income and lifestyle is at stake. If you’ve any concerns or issues regarding your pension fund or pension scheme, speak to a specialist pensions law advisor right away. There are no special qualifications needed to be a tax barrister. Like any other barrister, a tax practitioner has to be bright, hard-working, practical and able to absorb and analyse considerable volumes of information very quickly. Professional help by any Inheritance Tax Advice service will provide value for money.The advisory side of a tax barrister’s practice can include giving opinion on the tax treatment of trusts in a commercial context. Tax professionals can be involved with handling disputes with HMRC and challenging assessments/C18’s in the Tribunal, if agreement cannot be reached. Barristers need to have good powers of persuasion, whether oral or written, and to be able to explain complex issues so that their clients, members of a jury or other non-specialists are able to follow the argument clearly. Get further facts appertaining to Specialised Tax Barristers on this page.Related Articles:What Are UK Tax Barristers And Why Is This Subject Critical To You? London Tax Barristers: Confronted With So Many Decisions UK Based Tax Barristers: Making The Competent Choice
