Richard is a consultant in our Tax Department.
Investment funds
Richard has advised on the establishment of a variety of onshore and offshore funds for investment in the UK and elsewhere. These funds have taken a variety of forms, including limited partnerships, unit trusts (mutual funds) and closed or open-ended companies.
From 2014 – 2016, Richard acted for managers advising on tax treatments of carried interest, including the structuring of carried interest, assignments and returns from carried interest. He has responded throughout his career to HMRC consultations for example in relation to disguised investment management fees, carried interest and income based carried interest. He was heavily involved in the responses of the LSEW to HMRC and the Treasury.
Richard has acted on the establishment of a number of funds, including advising on fund structures for clients, or implementing structures devised by accountants or other professionals. Richard also advises limited partners on investing in limited partnership funds and UK tax consequences of these investments.
Corporate tax
Richard has acted on a number of corporate transactions. These have mainly taken the form of re organisations, reconstructions and joint ventures, where Richard has advised on the steps leading to and implementing the transaction and their tax consequences many of these transactions have been for the Peel Group of companies, for which Richard has acted for over 16 years.
VAT
Richard has advised on a number of VAT questions, most recently in relation to fees received from certain direct contribution pension fund arrangements and, the effect of VAT grouping for the trustees of deferred benefit schemes and the treatment of management and other fees charged to investment funds.
Stamp taxes
Richard has advised throughout his career on stamp duties. He advised on the application of SDRT in relation to the original CREST system and continues to advice on stamp duty, SDRT and SDLT, including in relation to partnerships and other fund structures.
Richard has been highly recommended for corporate tax by Legal Experts, and individually recommended in Global Counsel 3000 and The Legal 500.