Obtaining tax legal advice


One of the many services solicitors offer is tax legal advice. Tax legal advice is not only for large multinational corporations; individuals and small businesses can also benefit from tailored tax legal advice. Whilst usually private contractors, individuals of high net worth and other persons who have unusual tax situations will benefit most, anyone who is proposing to buy or sell real property or assets of any substantial value should receive tax legal advice; appropriately planning or structuring a transaction can substantially impact on the amount of tax payable.

An example of a situation where a company could have benefited from specialist tax legal advice from reputable tax solicitors can be seen in the case of Hurlingham Estates Ltd v Wilde & Partners. The claimant in this case was a company that acquired specific assets through a complex financing deal. As a result of the transaction certain tax liabilities arose. The company only relied on the advice of one law firm (the defendant) in order to complete the deal and it was therefore the responsibility of that firm to ensure that the company was aware of its tax liabilities. However, the proper legal tax advice was never given to the company and as a result it suffered a loss and brought an action for professional negligence, in which it was successful.

If you require legal tax advice you should speak to a reputable tax solicitor. The advice provided by a legal professional can help you to minimise your tax liability and structure your finances and transactions in the most tax-effective way. As an added layer of security, if it later becomes apparent that the legal tax advice was negligent, you may be able to reclaim any losses you suffer from the solicitor through a negligence claim. It is important, however, that you seek advice from a solicitor that is familiar with the type of tax that applies to you (e.g. personal, company etc.) and on the scale you require.

If you would like to obtain legal tax advice, Caven can put you in touch with a local tax solicitor free of charge. So, if you have any questions or would like our help in finding local tax solicitors please call us on 08001 221 2299 or complete the web-form above.

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