Tax law is an important ingredient of literally every commercial, corporate or personal transaction. Every facet of life today involves tax in some respect. It’s a big source of revenue for authorities and its subject-matter is voluminous and complex. .
There are lots of stereotypes surrounding tax. It sounds very boring, but then again so are lots of things that are difficult to understand. To be clear, this area of law is often reserved for the most analytical of aspiring lawyers.
Tax law involves contentious and non-contentious work and is a crossover service, which is associated with almost all other areas of law practice. Much of a tax solicitor’s work today covers what used to be the domain of accounting firms. More and more clients are looking for professionals who combine legal and accounting expertise to ensure the uniformity and quality of advice that they receive.
Tax lawyers are required in both private and public domains. A private sector tax practitioner’s workload will cover various core areas; normally this involves focusing on the best way to structure assets, assisting with documentation, negotiating transactions and jockeying the deal to completion. They will advise clients on the implications of tax during transactions, especially when structuring financial and administrative frameworks in different markets.
A number of people in property law choose to specialise, whereas others prefer to be general practitioners and work in all areas of property.
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