Tax Advice for Solicitors

Tax Advice for Solicitors

In the same way that we would not provide any legal advice to our clients, the majority of solicitors shy away from giving tax advice. Unfortunately this can leave a marked gap in the service you provide as tax is often a key element of the work you are engaged on.

A large proportion of our work is done in partnership with solicitors. We are often engaged to provide the specialist tax advice required as part of a wider project being handled by the legal practice.

We work in conjunction with a large number of legal practices to help their clients maximise on the tax opportunities that are prevalent in real estate. If a taxable event is occurring such as an acquisition or disposal, there can also be a defensive element to providing the correct advice i.e. if the relevant tax legislation is not addressed taxpayers can find themselves losing out or even subject to punitive measures by HMRC.

Whilst providing best advice is the primary objective of our work, another important aspect is to protect your legal practice. Solicitors, especially those providing conveyance services, owe a duty of care to provide effective advice on all aspects of a transaction they are instructed on. This extends to many areas of tax, regardless of what your care letter says.

Some of the more common areas on which we are asked for advice include:

(Mouse over the points below for more information)

  • Capital Allowances

  • Section 198 elections

  • SDLT

  • ATED

As well as providing advice direct to your clients we can also supply you with a number of resources, including:

  • Draft emails to bring these tax related matters to you clients attention
  • Articles for news letters
  • Model documents e.g. s198 elections
  • Technical briefs for use within your practice
  • Training for you and your staff so they can identify areas of risk & opportunity

If you would like to find out more about the work we do and how we can assist your practice please don’t hesitate to contact us today.