Tax issues
Disputes
Russell Jones & Walker offers specialist legal advice and assistance on resolving disputes relating to tax issues, whether that be through settlement negotiations or litigation.
For many of our clients, a dispute with the Inland Revenue is a daunting prospect. However, the financial circumstances may be such that the Revenue is open to challenge in interpretation of applicable tax legislation. Given the complex and technical nature of tax claims, we recommend seeking legal advice at the earliest opportunity.
Our specialist legal experts will consider the prospects of successfully challenging the Revenue in its assessment, through careful consideration of the reasoning applied. Our lawyers are able to advise on whether the tax assessment is open to alternative interpretations and the merits in pursuing such a claim. Should it become necessary to commence or defend proceedings in court, we will, wherever possible, aim to recover payment of legal costs from the Revenue.
We are also able to advise our clients on the availability of tax-free status, through careful analysis of their particular circumstances, both in terms of their employment relationship and residency status
Tax Implications
Tax implications arise for our clients on the settlement of claims and the receipt of golden handshakes or other termination payments. Our aim in devising the appropriate strategy to negotiate receipt of such payments is twofold, to minimise the tax that is payable and to maximise any tax-free opportunities available, for example, payments within pension schemes.
The first £30,000 of any termination payment may be payable free of tax. The remainder should become taxable at the individual's normal rate of tax.
Our specialist lawyers also advise on the tax implications of share option and share save schemes, when entering into new contracts of employments, and in negotiating severance packages for our clients.