VAT barristers specialize in litigating and advising on all aspects of commercial and personal tax issues. Corporate tax matters involve company reconstructions, use of losses, capital allowances, and transfer pricing. Personal tax issues may encompass income tax, inheritance and capital gains. A barrister may specialize in value added tax (VAT) and other indirect taxes that include customs duties, stamp duties, landfill tax, and excise duties. This article provides a comprehensive overview of the job functions of VAT barristers.
Tax is a very technical area in the legal sphere. The essential feature when it comes to the tax Bar is that the balance between advising and litigating is more heavily weighted towards the former. A VAT barrister often offers his or her advice with a view to litigation in the long run. Tax law is quite complicated, and it is easier to fall into traps. A lot of advance planning is required for VAT cases. This is not to say that a VAT barrister never gets the chance of putting his or her case to a judge. Even though VAT lawyers do more advice than most other attorneys, they still have a fair amount of litigation to do. A tax lawyer may spend months on drafting and getting the documents ready. VAT litigation usually has a long lead time compared to other cases. In fact, a matter might be on the desk of the barrister for eight to nine months before they get to court. Even the smaller tax disputes are no less difficult for that matter. Things can be still messy and confusing even when there is little money at stake. This is where the services of a reputed and experienced VAT barrister comes in handy.
VAT frauds or carousel frauds are most often lengthy and complex investigations. It can be due to the complicated nature of the circumstances surrounding the fraud. In fact, investigators want to take as much time as required to evaluate every opportunity to uncover anything that can be used as evidence in the case. Carousel frauds occur when high-value goods are imported VAT-free from European Union countries. These goods are then sold at VAT-inclusive prices in the United Kingdom. The original dealer then disappears without paying the VAT due to the authorities in the UK. Such goods can even be re-exported, with the exporter reclaiming the VAT from the authorities. VAT frauds involve millions of pounds lost to the authorities in the country. Such is the complexity of VAT frauds in the country. This is where the services of a highly qualified and experienced VAT barrister comes in handy.
In summary, tax barristers are attorneys specialized in dealing with corporate or personal tax disputes. Value added tax (VAT) attorneys specialize in handling VAT cases either through litigation or advice processes. Picking the right VAT barrister is essential in obtaining a fair litigation process in a court of law. The aforementioned article provides a comprehensive overview of the job functions of a VAT barrister.
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