Firms To Watch: Corporate tax

Shoosmiths LLP are developing their offering with the recruitment of team leader Laura Board from Bird & Bird LLP in May 2021.

Corporate tax in London

Macfarlanes LLP

Macfarlanes LLP‘s ‘superbly knowledgeable, technical, solution oriented’ team has expertise in M&A, fund formation, and all areas of tax structuring. The department is active on both domestic and international matters, advising global clients on high value matters. Team lead Damien Crossley specialises in private equity and investment management, and is a published thought leader in tax law. Ashley Greenbank is well known in the field, with an aptitude for cross-border transactions and group tax planning, while Mark Baldwin focuses on collective investment vehicles, particularly international private equity and real estate funds. Ceinwen Rees’ practice is centred on tax structuring, and James McCredie specialises in advising fund managers across all relevant tax issues. Jeremy Moncrieff has significant experience in complex M&A. Other key names include Gregory Price and Alicia Thomas. Sophie Donnithorne-Tait joined in mid-2022 from Akin Gump LLP, where she was department head.

Practice head(s):

Damien Crossley

Other key lawyers:

Ashley Greenbank; Mark Baldwin; James McCredie; Jeremy Moncrieff; Ceinwen Rees; Gregory Price; Alicia Thomas; Sophie Donnithorne-Tait

Testimonials

‘The tax team is superbly knowledgeable, technical, solution oriented and has the ability to explain highly complex matters in simple laymen terms. They are outstanding in the private credit space.’

‘Jeremy Moncrieff is not afraid of complexity, and boils things down to practical solutions with clear advice.’

‘Ceinwen Rees is super reactive, very pleasant to work with. She handles big projects in a very efficient and smooth manner. Her skills expand well beyond tax.’

‘They have perhaps the largest group of asset management focused tax partners and are adept at bringing together industry peers through their PETs sessions and technical working groups which are frequent, timely, varied, perfectly pitched, professional and informative. They are for that reason extremely well regarded in the industry.’

‘The corporate tax team at Macfarlanes is absolutely top notch with vast experience of the issues which need to be considered when advising on any transaction involving a corporation.’

‘All the individuals with whom I work at Macfarlanes are exceptionally able and easy to work with. Knowledge and experience are the hallmarks of the team, led by Damien Crossley.’

‘Ashley Greenbank is essentially the smartest man on earth and so any thorny problem is child’s play. Jeremy Moncrieff is practical, hard working, responsive and creative.

‘Jeremy Moncrieff – can always rely on his tax advice being both relevant and understandable. He thinks outside of the box and provides helpful alternative options where applicable.

Key clients

Alchemy

Virgin

Cross Ocean

GHO Capital

Hayfin Capital Management

Legal and General

Omnicom

Partners Group

Patron Capital

Charterhouse

Work highlights

  • Advised long-standing private equity client Alchemy on all tax aspects of its acquisition of Brasserie Bar Co, which owns the Brasserie Blanc and White Brasserie Co brands founded by chef Raymond Blanc.
  • Advised Hayfin Capital Management, on the tax structuring of its third Special Opportunities fund (Special Opportunities Fund III).
  • Provided UK tax advice to NortonLifeLock on the transaction structure and merger steps on its recommended cash and stock merger with FTSE100 company Avast plc, in a transaction attributing an enterprise value to Avast of up to $9.2bn.

Slaughter and May

Slaughter and May fields a team with a ‘high level of knowledge and experience‘, active on the full spectrum of tax matters, including transactions, restructurings and IPOs. The department is led by Mike Lane, who advises both domestic and international clients on a wide range of tax issues, including M&A, structured finance, and contentious matters. Gareth Miles has significant experience in private equity, and works on both domestic and cross-border M&A transactions. Dominic Robertson advises businesses on all areas of tax law, with a special focus on tech and life sciences, while recently promoted partner Charles Osborne has experience in group reorganisations and contentious matters. William Watson has a particular interest in the real estate and energy sectors, with additional experience in contentious tax. Associate Sarah Osprey is also noted.

Practice head(s):

Michael Lane

Other key lawyers:

Gareth Miles; Dominic Robertson; William Watson; Emma Game; Charles Osborne; Sarah Osprey

Testimonials

‘Commercial and collaborative, they work in close partnership with us as clients and link in closely with other practice areas in the firm to ensure a ‘one team’ service.’

‘Their advice is presented in a way which is clear to understand for non-lawyers. It also has a good practical focus and the team bring lots of real-life examples to help make the advice more applicable.’

‘Excellent quality of people. Advice is easy to understand and relevant for the business. Very supportive of both our business and people.’

‘Superb grasp of tax law and practice, highly professional, practical advice which is fit for the purpose requested.’

‘Mike Lane is a superb tax professional – a very broad knowledge of tax law and practice, a highly practical approach, and with excellent judgement in relation to tax risks.’

‘A mix of a great team and great collaboration with a high level of knowledge and experience, and always responsive. High quality work.’

‘Deep knowledge of complex tax legislation and full appreciation of the wider commercial factors at play which are handled by the same firm.’

Key clients

Standard Chartered

Ocado

Burberry

Centrica

abrdn

Ineos

Global Risk Partners

Prudential

Bourne Leisure

Barratt Developments

Schroders

Work highlights

  • Advised Shell plc on the simplification of its existing share structure.
  • Advised Daily Mail and General Trust plc on the business combination between Cazoo and AJAX 1.
  • Advised Virgin Group on all UK tax aspects of the successful restructuring of Virgin Active.

Allen & Overy LLP

Allen & Overy LLP‘s tax department has strong international capabilities, offering cross-jurisdictional support for corporate, financial, and real estate tax matters, in addition to their robust contentious tax practice. Global tax head Christopher Harrison takes the lead, with expertise in advising both financial institutions and large corporations in relation to a wide range of tax matters. Senior partner Lydia Challen specialises in all aspects of corporate tax, including M&A, structuring issues and the full range of transactions. Charles Yorke handles contentious work, and this year led on an $893m securitisation for Stonepeak Infrastructure Partners, which involved assets in 29 jurisdictions. Former team lead Vimal Tilakapala remains active as a consultant for the department.

Practice head(s):

Chris Harrison

Other key lawyers:

Lydia Challen; Charles Yorke; James Burton; Tim Harrop; Gareth Banfield

Key clients

BNP Paribas

Quilter Plc.

Royal Bank of Scotland

Société Générale

UBS A.G.

Coventry Building Society

Marks & Spencer

Worldpay

WPP

Investec

Work highlights

  • Acted separately for both PIMCO and Davidson Kempner on the momentous sale by UKAR of the last of its mortgages, closing out the UK government’s book on the 2008 bail-outs and seeing the taxpayer fully repaid.
  • Advised Brookfield Asset Management (Brookfield) on the tax aspects its USD5bn acquisition of the Modulaire Group from investment funds managed by TDR Capital.
  • Advising the Weston family on the tax aspects on the sale of the Selfridges Group to Central Group and Signa Holding.

Baker McKenzie

Baker McKenzie‘s expansive team incorporates tax advisors, accountants, and economists, so as to provide full coverage for multinational corporations facing complex multi-jurisdictional matters. The group has expertise in contentious and non-contentious tax matters, including tax planning, VAT, and transfer pricing, and this breadth has drawn major clients such as Google, Hitachi, and Siemens. Mark Delaney, who leads the practice, has significant experience advising on UK, EU and global VAT law. EMEA+ chief executive Alex Chadwick specialises in tax matters with international elements. Kate Alexander, who joined from Ernst & Young LLP in 2016, frequently acts for companies under enquiry from HMRC, and is knowledgeable on multinational restructurings. Patrick O’Gara advises major multinationals in the TMT, healthcare and consumer goods sectors, while Matthew Legg, who made partner in 2020, has a practice which combines transactional work with tax planning and structuring.

Practice head(s):

Mark Delaney

Other key lawyers:

Alex Chadwick; Richard Fletcher; Kate Alexander; Mark Agnew; Patrick O’Gara; Jukka Karjalainen; Natalie Dunne; Matthew Legg

Testimonials

‘Extensive corporate tax knowledge and experience in the team; excellent project management and ability to pivot quickly to any issues or queries that arise.’

‘Great attention to detail and technical knowledge; the team react quickly to queries and HMRC demands and ensure the appropriate team members are involved.’

‘A great team with broad specialty expertise across all complex areas of tax law.’

‘The individuals I’ve worked with our very pro-active, thinking through our structural considerations and bring new and innovative responses real time.’

‘They have good knowledge about the practice of the tax authorities in similar cases and therefore can defend their views very well.’

‘Broad depth of expertise. Goes the extra mile to find solutions’

‘Matthew Legg is a very client focused partner, always available for clients.’

‘Excellent project planning and the team always meets the deadlines. Ability to jump into an existing set up and come up with fresh ideas.’

Key clients

ALJ International

ATP Media

Blue Horizon

Body Shop

Brunswick Corporation

Commscope

Gemini Office Services UK

GlaxoSmithKline

Google

Hitachi

Inter Pipeline Ltd

LVMH

MainFirst Holding

Manzanita

Novator

Novo Nordisk

Olayan

Pontegadea

QInvest LLC

Servier

Siemens plc

Stalex Investments Ltd.

Tailwind

Unilever

Work highlights

  • Advising ATP Media on the structuring of their new Tennis Data Innovations business.
  • Advising Intermediate Capital Group (ICG), Onex, Olayan, Google, Townsend, Mapletree Investments on various Real Estate Tax Projects.
  • Advising Walgreens Boots Alliance Inc on the tax aspects relating to the carve out and disposal of its Alliance Healthcare business to AmerisourceBergen Corporation for $6.5bn in 2021.

Clifford Chance LLP

Clifford Chance LLP fields a team with significant experience across M&A, finance, funds, real estate and tax structuring. Team lead and UK head of tax Chris Davies has more than 30 years’ experience in the practice area, and specialises in structured finance. David Harkness advises large corporates and financial institutions on high value tax matters, particularly those with international elements. Anthony Stewart covers investment funds, and has experience working with fund managers across Europe. Other key names include David Saleh, who leads on real estate tax, and Richard Kalaher, who handles cross-border M&A. Jemma Dick, Nicola Hemsley, and Laura Underhill, were promoted to partner within the department in May 2022.

Practice head(s):

Chris Davies

Other key lawyers:

Nick Mace; David Harkness; Anthony Stewart; David Saleh; Laura Underhill; Jemma Dick; Nicola Hemsley

Testimonials

‘David Saleh and his team are very proactive in terms of client relationship management and tax planning for them – very explicit, clear and concise (especially for clients who have no understanding of the UK tax landscape – it can sometimes be a back to basics exercise).’

‘The quality of the people, especially the partners, is excellent and consistently so. They have a wide client base in my sector and a breadth of experience which is valuable and differentiates them from more niche competitors.’

‘David Harkness is a trusted adviser. I feel I can rely on him to provide well considered input and I trust him to handle the most sensitive issues we face. He has engaged very well with our business and delivered constructive advice.’

‘Proactiveness and responsiveness from David and team, despite his seniority, there is a proactive nature to client satisfaction and going over and above to assist/explain.’

Key clients

Heimstaden Bostad AB

EQT Exeter

Caisse des Dépôts et Consignations (CDC)

Allianz Real Estate

ICG (Intermediate Capital Group)

Gamesys Group plc

French Connection Group plc

Telefonica Tech

Citibank NA

Work highlights

  • Advising Citi on its announced exit from consumer banking in 13 jurisdictions in Asia and Europe.
  • Advising Heimstaden Bostad, on the tax aspects of their acquisition of Soho Wharf in Birmingham for £160 million from Apsley House Capital and Galliard Homes.
  • Advising Intermediate Capital Group plc, on the tax aspects of the formation and closings of ICG Recovery Fund II – a fund established to focus on investments in the special situations and tactical opportunities space.

Hogan Lovells International LLP

Hogan Lovells International LLP offers multi-jurisdictional support for corporations working globally, including full service transfer pricing capability. The department operates across all industry sectors, including real estate, pharmaceutical, infrastructure, and financial institutions. Elliot Weston leads the practice, and advises clients on tax elements of real estate transactions, and tax dispute resolution matters. Karen Hughes is global co-head of tax, with a practice which includes business restructurings, M&A and international tax planning. Fiona Bantock advises on employee incentives. Senior Associate Christopher Hyde is also noted.

Practice head(s):

Elliot Weston

Other key lawyers:

Karen Hughes; Philip Harle; Aaron Burchell; Fiona Bantock; Christopher Hyde

Work highlights

  • Advised Patron Capital Partners on the tax elements of its sale of Punch Pubs for circa £1 billion to private equity firm Fortress.
  • Advised NYSE listed PerkinElmer, Inc. on the tax elements of its US$591 million cash takeover of NASDAQ listed Oxford Immunotec Global plc and on the £110 million takeover of Immunodiagnostic Systems PLC.
  • Advised Ascendas on its €555 million acquisition of a portfolio of 11 data centres from Digital Realty Trust.

Kirkland & Ellis International LLP

Kirkland & Ellis International LLP has a globalised tax service, with particular aptitude in private equity transactional and fund construction. The department is increasingly active in the M&A sphere, where notable matters include the £2.322bn public to private acquisition of Aggreko plc by Albion Acquisitions. The practice is co-led by Jonathan Kandel and Timothy Lowe. Kandel advises on private equity, credit, real estate and infrastructure issues, while Lowe covers M&A transactions and corporate finance on behalf of clients such as Blackstone, Oaktree and Ares Capital Management. Mavnick Nerwal handles public and private M&A transactions, reorganisations and reconstructions. Ian Ferreria and Frixos Hatjantonas are also key individuals within the team. New additions to the team are Alexander Cox, who joined from Ashurst in August 2022, and Peter Abbott, from Macfarlanes LLP in May 2021.

Practice head(s):

Jonathan Kandel; Timothy Lowe

Other key lawyers:

Mavnick Nerwal; Ian Ferreira; Frixos Hatjantonas; Peter Abbott; Alexander Cox

Testimonials

‘The K&E team are experts in private equity fund raising and the relevant negotiations that need to take place to make this happen. They are market leaders in this, being fast, efficient and highly technical. The team will work hard to deliver for the needs of the client, but are not afraid to push back on client instruction, suggesting alternate commercial plans.’

‘Ian Ferreira is very practical while also being detail oriented. In giving advice he is clear in his verbal reasoning, supporting the conclusions reached and giving confidence that the right outcome has been secured.’

Key clients

Waterland Private Equity

Inflexion Partners

Oaktree

Park Square Capital

Tailwind International

TPG Real Estate

Brookfield Asset Management

Orion Capital Managers

Antin Infrastructure Partners

EQT AB

Starwood Capital Group

Albion Acquisitions Limited, a company owned by funds managed by I Squared Capital Advisors (US) LLC and TDR Capital LLP

TDR Capital

Vista Equity Partners and Hg

KKR and a consortium of other investors

Cobham

Polestar

Noble Corporation

Thoma Bravo

EQT backed IVC

Work highlights

  • Advised Waterland the sale of its portfolio company United Petfood from its sixth fund to a continuation fund.
  • Advising UK mid-market Inflexion Partners (a new client of the firm) on the raise of its sixth buyout fund.
  • Advised Oaktree on the structuring and fund formation of Oaktree Opportunities Fund XI.

Linklaters LLP

Linklaters LLP's lawyers have expertise advising on tax aspects of corporate transactions, including domestic and cross-border M&A, joint ventures and demergers, and have been particularly active on SPAC related matters. Lynne Walkington is practice head, and focuses on M&A transactions, reorganisations and real estate. James Morgan covers corporate, finance, and structuring tax, and previously worked as a tax expert in the Strategic Transactions Group of Lloyds Banking Group. Chris Smale is a name to note, and this year advised Alphawave IP on its £3.1bn IPO on the London Stock Exchange.

Practice head(s):

Lynne Walkington

Other key lawyers:

James Morgan; Chris Smale

Testimonials

‘James Morgan: very knowledgeable and approachable.’

James balances a strong technical ability with pragmatic and commercial advice. I find the Linklaters tax team very collaborative and good fun to work with.

Key clients

Unilever

Lloyds Banking Group

Cerberus

Nestlé

Interpath

Credit Suisse

PSP Investments

BP

Ontario Teacher’s Pension Plan

CK Hutchinson

Just Eat

Work highlights

  • Advised FTSE 100 listed client, Unilever on the €4.5bn sale of its global tea business to CVC Capital Partners.
  • Advised Interpath Advisory on the sale of 214 Oxford Street – formerly owned by Arcadia and the home of their flagship Topshop and Topman store.
  • Advising Lloyds Banking Group on a ground-breaking £1bn liability management exercise involving several “first-of-its-kind” techniques.

Skadden, Arps, Slate, Meagher & Flom (UK) LLP

Skadden, Arps, Slate, Meagher & Flom (UK) LLP‘s team provides full service tax advice across all areas, with particular emphasis upon high value M&A work. The department has broad sector expertise, acting for clients across financial services, real estate, advertising and gambling in diverse jurisdictions including the US, EU, India and Australia. Team leader James Anderson specialises in private capital arrangements, while Alex Jupp focuses on advising on high level corporate transactions. Counsel Jisun Choi provides significant support within the team, and advises numerous multinationals on complex tax matters. Associate Joseph Hone is also recommended.

Practice head(s):

James Anderson

Other key lawyers:

Alex Jupp; Jisun Choi; Joseph Hone; Elizabeth Spencer

Testimonials

‘Creative thinkers to develop structures to meet a variety of end goals, with a broad knowledge and experience of transactions. Extremely responsive, available and diligent. Producing work product that is especially clear and easy to digest given complex ideas.’

‘James Anderson has deep experience and developed instinct – able to hone in on a simple, elegant solution expediently and definitively.’

‘James Anderson is the strongest and most creative tax partner I have ever worked with.’

‘What makes this practice unique is its depth of knowledge on UK tax and their commitment to their clients. The practice is very responsive to client needs and its depth and breadth of knowledge has always made them my very first phone call.’

‘The individuals I worked with the most were James Anderson and Joseph Hone. They are intelligent and knowledgeable and always willing to talk through a problem to find a workable solution.’

Key clients

Waldencast Acquisition Corp

Willis Towers Watson plc

Infrastructure Integrator LLC

RMG Acquisition Corporation II

SDCL EDGE Acquisition Corporation

Mercury Retail Holding PLC

JAB

Visa, Inc.

Phoenix Group Holdings

Electronic Arts Inc.

Blue Whale Acquisition Corp I

Raymond James Financial, Inc

ST Energy Transition I Ltd

Netflix, Inc.

Odyssey Acquisition

NCR Corporation

Central Group and Signa

Criteo SA

Work highlights

  • Advising Netflix, Inc. on the tax aspects of its acquisition of The Roald Dahl Story Company Limited, which manages the literary works, copyrights and trademarks of author Roald Dahl.
  • Advising Odyssey, a special purpose acquisition company (SPAC) listed on Euronext Amsterdam, in its €1.5 billion combination with BenevolentAI.
  • Advising Visa, Inc. on the tax aspects of its €1.8 billion acquisition of open banking platform Tink AB (Tink). Skadden is also leading the M&A.

Travers Smith LLP

Travers Smith LLP fields a team experienced in asset management, tax disputes, corporate finance and M&A, with particular strength in private equity. The team acts across a broad range of sectors, including tourism, education, and real estate, both internationally and within the UK. Emily Clark, who has been with the firm since 1998, leads the department, and advises on all aspects of fund formation, while senior partner Kathleen Russ is highly experienced in private equity transactions. Simon Skinner‘s practice includes public and private M&A, as well as restructurings, disputes, and IPOs. Jessica Kemp and Hannah Manning advise clients on a wide range of transactional issues, such as sales, buyouts, and restructurings. Elena Rowlands is also noted.

Practice head(s):

Emily Clark

Other key lawyers:

Kathleen Russ; Hannah Manning; Simon Skinner; Russell Warren; Madeline Gowlett; Jessica Kemp; Elena Rowlands

Testimonials

‘A great team that works really well together. There are no egos here, but a group who freely consult each other on their respective specialities to ensure the client gets the best all round advice.’

‘For a highly technical and cerebral speciality, everyone I met in Travers tax team was approachable and unassuming, and all made it clear that they genuinely cared about getting the best result for their client.’

‘Elena Rowlands – availability, intelligence, star quality.’

‘The team at Travers are all broad technical experts in their area of specialism, but also are very aware of broader related trends. This means that they are able to point out potential areas of concern outside their immediate area of practice, saving the client from spending time and fees on an analysis that becomes academic if the proposed transaction cannot proceed for other commercial reasons.’

‘Compared to other firms, their technical training and materials that they provide as part of their marketing efforts are of a significantly higher quality and make a big difference in shaping industry opinion and response.’

‘Compared with other firms of advisers, the big difference is that Travers attempt to really understand the business of the client and adjust their advice to the specific people / commercial factors / legal structure. This is much appreciate by in-house teams, as it avoids the need for shooting down ideas that are simply not practical.’

‘All Travers staff lead by example, seeking to produce high quality work in a manner that is ethical. All staff that I have interacted with are skilled at dealing with people, including more difficult characters, and are able to diffuse difficult situations during commercial negotiations. The Travers team always appear to be calm and under control.’

‘Emily Clark and Simon Skinner are exceptional advisers. I have used them while working for multiple firms. Their advice is detailed, accurate and timely. They seek to advise as if they are representing your firm personally, rather than seeking to stand off away from the project.’

Key clients

Ancala Partners

Apax Partners

Ares

Auction Technology Group

August Equity

Bain Capital

Bridgepoint

Brown & Brown, Inc.

BUUK Infrastructure

Canaccord

CBPE Capital

CGE Partners

ECI Partners

Elysian Capital

Equistone

Exponent

Foresight Group

Foster and Partners

Horizon Capital

Index Ventures

Impact Healthcare REIT

Inflexion

Inmarsat

InstaVolt Limited

International Schools Partnership

Intermediate Capital Group

Literacy Capital

Livingbridge

LDC

Lothbury

McCarthy Stone

Medicxi

Micro Focus

Miniclip

Noble Corporation

Phoenix Equity Partners

PineBridge Benson Elliot

RAC

Silver Lake

Symphony Technology Group

TA Associates

The Access Group

The Carlyle Group

The Peel Group

Work highlights

  • Advised Inflexion on its significant minority investment in Digital Wholesale Solutions, which is currently part of the Daisy Group.
  • Realisation and new investment work for long-standing client Bridgepoint, including its sale of Miller Homes, one of the U.K.’s leading homebuilders, to funds managed by Apollo affiliates and existing management.
  • Advised Auction Technology Group plc on a £244 million cashbox placing, new debt financing and the proposed $525 million acquisition of LiveAuctioneers from US Private Equity fund Cove Hill Partners.

Ashurst

Ashurst‘s core specialisms are transactions, litigation, funds and finance, with a particular focus on real estate tax. Practice lead Simon Swann advises on all forms of corporate tax, and this year led on the £428m sale of London office properties 2 and 3 Bankside by DWS to Omnicom. Paul Miller focuses on the financial services industry, advising on debt, securitisation, and other debt capital market issues. Nicholas Gardner is experienced in tax aspects of corporate and private equity transactions, while Tim Gummer advises on pan-European corporate real estate deals.

Practice head(s):

Simon Swann

Other key lawyers:

Nicholas Gardner; Paul Miller; Tim Gummer

Testimonials

‘Paul Millar is very responsive.’

‘Level of responsiveness and focus on reaching a swift / clear conclusion.’

‘Tim Gummer – amazingly responsive and on the ball. Always contactable. Excellent grasp of the tax but also providing workable and practical solutions.’

‘The tax team at Ashurst are excellent and have a good all round knowledge of the taxes impacting our business. They also work well with the commercial and finance teams within our business.’

‘Simon Swann is my go to tax lawyer and sounding board. He has an excellent all round knowledge of real estate taxes and is pragmatic and solution driven.’

Key clients

PPL Corporation

JX Nippon Oil and Gas Exploration Corporation

DWS

ARA Dunedin and ARA Asset Management Limited (“ARA”)

McLaren Group Limited

Kier Group plc

CDL Hospitality Trusts (CDLHT)

Babcock International Group PLC

Berkeley Homes

Roebuck Asset Management

General Atlantic

Work highlights

  • Advised PPL Corporation on the sale of the UK electricity distribution group Western Power Distribution to National Grid.
  • Acted for JX Nippon Oil and Gas Exploration Corporation on its sale of its UK subsidiary, JX Nippon Exploration and Production (U.K.) Limited, to NEO Energy Upstream UK Limited at an enterprise value of USD 1.655 billion.
  • Advised DWS on the sale of the office properties 2 and 3 Bankside in Southbank, London to current tenant, American global media & communications company, Omnicom.

Bryan Cave Leighton Paisner LLP

Bryan Cave Leighton Paisner LLP fields a full-service team, with experience in corporate, commercial, and finance taxation. The group has particular expertise in tax elements of real estate, with notable clients in this sector including Magdalen College of Oxford University, Hines Global REIT, and Northwood Investors. Team leader Elizabeth Bradley is the global head of tax, and has experience encompassing all areas of tax. Mark Brailsford advises companies, financial institutions and funds on complex transactions, while Alan Sinyor acts as head of VAT. Matthew Poole and Richard Harbot work on real estate matters for domestic and international clients, and Paul Shaw has particular expertise in investment funds.

Practice head(s):

Elizabeth Bradley

Other key lawyers:

Mark Brailsford; Alan Sinyor; Matthew Poole; Paul Shaw; Richard Harbot

Testimonials

‘BCLP covers the full spectrum of services we need – fund, transactions and tax. The tax team work seamlessly with their colleagues to get us results.’

‘Paul Shaw is our go to person for complex funds advice and structuring, always providing quality, innovative and commercial advice that helps us to make transactions happen.’

Key clients

Magdalen College, Oxford University

Agilitas Private Equity

LaSalle Investment Management (“LIM”) and Axis Capital Partners

Hines Global REIT

King’s Cross Central Limited Partnership / Argent

Ares Management Corporation

Northwood Investors

Kape Technologies plc

Lemonaid Health Ltd

KKR

Suncor Energy UK Limited

Fidelidade

Work highlights

  • Advised Magdalen College, Oxford University on the creation and tax structuring of its 60/40 joint venture in relation to the £400m Oxford Science Park.
  • Acted for 3 UK pension fund clients of LIM and Axis Capital Partners on their joint purchase and financing of St George’s Shopping Centre in Harrow in excess of £40m.
  • Advised Hines on its acquisition and tax structuring of 18 Blackfriars Road, a 1.8-acre development site in a prime Central London location.

CMS

CMS provides a full-service tax offering, covering VAT, transfer pricing, and tax litigation, with a particularly strong REIT practice. The department is co-led by Stephen Hignett and Aaron Fairhurst. Hignett focuses on the TV, music and gambling sectors, while Fairhurst has experience on the energy, infrastructure and private equity markets. ‘Outstanding’ TMT authority Mark Joscelyne and real estate specialist Phil Anderson are key individuals. Phil Nicklin, who joined from Deloitte Legal in 2020, leads on high value REIT matters.

Practice head(s):

Stephen Hignett; Aaron Fairhurst

Other key lawyers:

Mark Joscelyne; Lauren Alder; Phil Anderson; Anna Burchner; Jason Todd; Phil Nicklin; Philip Reid

Testimonials

‘CMS have worked with us for a long time and have a great understanding of our business. This comes through in the quality of their advice which is relevant and focused on the issues at hand.’

‘Mark Joscelyne is an outstanding partner at CMS. He has worked with us for many years and understands our business. He cuts through extremely complicated issues and his advice is always clear and concise and always definitive.’

‘Very knowledgeable and availabe tax team and individuals. Responsive and solid expertise in the real estate market.’

‘Phil Anderson is our main contact. We have worked together on several projects over the past years. He is always available, brillant and highly experienced. He is a tax lawyer of great value.’

‘The teams’ expertise is exceptional. They have solid grasp on all things tax. The tax group works really well with the commercial and or M&A.’

‘I have used Mark Joscelyne on a number of trasnactions and commercial deal. He is a pleasure to work with. He has dealt with some very comples situations and done exceptional work for us.’

‘The team are extremely knowledgeable and always take the time to ensure that are requirements are being met.’

Key clients

Phoenix Group

Land Securities Group Plc

The British Land Company Plc

Capital & Regional Plc

EDF

M&G UK Residential Property Fund

CLS Holdings PLC

Mooonbug Entertainment

NEO Energy

Equinor

SSE Plc

NEO Energy

Work highlights

  • Advised on Landsec’s acquisition of a 75% interest in MediaCity, Europe’s leading digital, media and tech hub, home to BBC North, ITV and others.
  • Advised NEO Energy on the acquisition of over 15 oil and gas fields and infrastructure from Exxon.
  • Advised Phoenix in relation to a complicated transaction designed to simplify their strategic partnership with Standard Life Aberdeen plc.

Gibson, Dunn & Crutcher

Gibson, Dunn & Crutcher provides advice to a broad range of clients, such as multinational corporations, investment funds and joint ventures. Team lead and global tax practice co-chair Sandy Bhogal assists clients with the full range of corporate tax matters, including transactional advice, investment funds, and transfer pricing. ‘Outstanding tax lawyer’ Ben Fryer is experienced with private equity transactions, and advises on tax-related issues such as capital markets, corporate finance, and debt restructuring. Jeff Trinklein‘s practice is focused on US and international taxation, particularly advising US individuals and companies establishing investments abroad.

Practice head(s):

Sandy Bhogal

Other key lawyers:

Ben Fryer; Jeff Trinklein

Testimonials

‘Ben Fryer is an outstanding tax lawyer – he is responsive, pragmatic, and creative. Ben is one of the top tax lawyers I have encountered in my career.’

‘Sandy Bhogal is an innovative problem solver with huge experience and knowledge of corporate taxation.’

Key clients

Platinum Equity

Quidel Corporation

Brookfield Property Partners

KKR & Co Inc.

Investcorp Holdings BSC

IPI Partners, LLC

Apollo Global Management

Newscorp

Welltower Inc.

Realty Income Corporation

Work highlights

    Herbert Smith Freehills LLP

    Herbert Smith Freehills LLP offers broad sector coverage, and advises on commercial transactions, tax disputes, and strategic work. William Arrenberg leads the firm’s global tax practice, and has a particular focus on real estate taxation. Howard Murray covers non-contentious insurance, TMT, energy and infrastructure, while Isaac Zailer has a broad practice which includes M&A transactions, asset management and private equity. Also key are Aurell Taussig and Casey Dalton.

    Practice head(s):

    William Arrenberg

    Other key lawyers:

    Isaac Zailer; Howard Murray; Aurell Taussig; Casey Dalton

    Key clients

    Aberdeen Standard Life

    Brookfield Property Partners LP

    Brookgate Land Limited

    Goldman Sachs International

    Hammerson Plc

    Hermes Fund Managers Limited

    Hipgnosis Songs Fund Limited

    TP ICAP plc

    Transport for London / London Underground Limited

    Tryg A/S

    Tullow Oil

    BHP Group Limited

    AbbVie Inc.

    Aberdeen Standard Life

    Acacia Research Corporation

    Ahren LP

    Allianz Real Estate GmbH

    Amundi (UK) Limited

    Antin

    Ardonagh Group

    Argent (Property Development) Services Limited

    Artisan Partners Limited Partnership

    Associated British Foods plc

    Atlassian Corporation Plc

    Baillie Gifford

    Berkeley Homes

    Bharti

    Big Society Capital Limited

    BioPharma Credit Plc

    Blackrock

    Blue Motor Finance Limited

    BP

    Bridgestone Corporation

    British American Tobacco PLC

    Cabot Square Capital

    CalEnergy

    Canada Life

    Canary Wharf Group Plc

    Capital & Counties Properties Plc

    Certares Management LLC

    Chargeurs

    Chevron

    Citibank

    Copenhagen Infrastructure New Markets Fund

    CPP Investment Board

    Deutsche Lufthansa AG

    Dorrington Plc

    EDF

    ENI

    Ferrexpo plc

    Findlay Park Partners LLP

    Gazeley

    Gazprom

    General Mills

    Iberdrola S.A.

    Inchcape

    Iluka Resources

    Impact Oil & Gas AGC Limited

    Israel Chemical Limited (ICL)

    Johnson Matthey Plc

    Kingdom of Saudi Arabia

    King’s College London

    KPMG LLP

    Lazard Group

    LCR Limited

    Lend Lease Corporation Limited

    LendInvest BTL Limited

    Marsfields Limited

    Mercuria Energy Group

    National Grid Plc

    Nuveen

    OneWeb Communications

    Pearson Plc

    Pension Insurance Corporation Plc

    Pension Protection Fund

    Perenco UK Limited

    Phoenix Group Holdings Plc

    Polar Capital

    Qatar Investment Authority

    ReAssure Limited

    Resolution Re

    Respira International Limited

    Royal London

    Saga Plc

    Sky Plc

    Societe Generale

    SoftBank Corporation

    St. James Edinburgh Unit Trust

    The Ardonagh Group Limited

    The British Land Company Plc

    The McConnell Foundation

    Thomas Lloyd Group Limited

    TSB Bank plc

    Unibail-Rodamco-Westfield

    Vantage Capital Markets LLP

    Weir Group Plc

    Wesfarmers

    Willis Towers Watson

    Woodside Energy Ltd

    Work highlights

    • Advised FTSE 100 company National Grid plc on its acquisition of Western Power Distribution (WPD) from PPL Corporation for an equity value of £7.8 billion.
    • Advised Goldman Sachs, Bank of America and JP Morgan, as well as UBS and BNP Paribas as joint bookrunners on Petershill Partners’ £4.0 billion initial public offering on the Premium segment of the London Stock Exchange.
    • Advised BP on its first major investments in Mauritania and Senegal through a US$916 million deal with Kosmos Energy to acquire interests in offshore exploration blocks.

    Latham & Watkins

    Latham & Watkins handles the full range of corporate tax matters for major multinationals such as J.P. Morgan, KKR, and NVIDIA, with expertise in handling cross-border issues. Sean Finn, Karl Mah, and Helen Lethaby jointly lead the practice. Finn specialises in M&A and private equity transactions, while Mah has expertise in structured finance and real estate matters. Lethaby, who joined from Freshfields Bruckhaus Deringer LLP in August 2021, has significant transactional experience. Counsel James Leslie is also noted.

    Practice head(s):

    Sean Finn; Karl Mah; Helen Lethaby

    Other key lawyers:

    James Leslie

    Key clients

    KKR

    888 Holdings

    Astorg

    Permira

    Platinum Equity

    Carlyle

    Onex

    Oaktree

    Alliance Pharma

    Goldman Sachs

    J.P. Morgan

    Barclays

    Aston Martin

    Work highlights

    • Advised NVIDIA on its $40 billion acquisition of Arm Limited, a UK-based semiconductor and software design company.
    • Advised Darktrace plc in connection with its £1.7 billion initial public offering and listing on the London Stock Exchange.
    • Advised the ad hoc group of holders of senior secured notes issued by PizzaExpress on the successful completion of the Group’s financial and operational restructuring.

    Norton Rose Fulbright

    Norton Rose Fulbright‘s ‘very knowledgeable team’ provides advice the spectrum of corporate and finance transactions. Dominic Stuttaford is head of tax for Europe, Middle East and Asia and Brazil, and has a non-contentious practice focused on transactions and corporate-reorganisations. Matthew Hodkin  covers tax structuring matters both in the UK and internationally, and has a focus on the transport and renewable energy sectors. Michael Alliston advises on M&A transactions as well as financings and asset sales. Julia Lloyd was promoted to partner in January 2021, and focuses on the tax elements of real estate financing and transactions.

    Practice head(s):

    Dominic Stuttaford

    Other key lawyers:

    Matthew Hodkin; Matthew Findley; Chris Bates; Michael Alliston; Julia Lloyd; Kyle Rainsford

    Testimonials

    ‘Very knowledgeable team. They really understand the underlying drivers in the transaction and tailor their advice accordingly.’

    ‘Dominic Stuttaford – immensely knowledgeable and user-friendly. A true adviser on tax matters.’

    ‘Michael Alliston – dogged in getting to the bottom of the point. Friendly and relaxed to work with.’

    ‘Very technically strong and interested in tax matters.’

     

    Key clients

    EasyJet

    Lloyds Banking Group

    Barclays Bank Plc

    Orange SA

    Royal Bank of Scotland PLC

    Goldman Sachs

    HSBC

    Roofoods Ltd (Deliveroo).

    AXA XL

    BentallGreenOak

    Louis Dreyfus

    Total

    Morgan Stanley

    EasyJet

    Deutsche Finance International

    London Gateway Port Limited

    Commerz Real Investmentgesellschaft mb

    Stena AB

    Credit Agricole

    Societe Generale

    Yoo Capital

    Bibby Financial Services

    Bombardier

    Brookfield Renewable Energy Partners

    Centrica

    Gatehouse Bank

    Santander

    Vodafone/Vodacom Group

    the West End of London Property Unit Trust

    Oxford Industries Inc.

    Kaefer Group

    Carnival Corporation & plc

    CitiGroup

    Toronto-Dominion Bank

    Trian Fund Management, L.P.

    Terra Firma

    AIG

    Liberty Insurance

    Euclid Transactional

    Chubb

    PGGM Vermogensbeheer B.V.

    Greencoat UK Wind

    BMO Financial Group (Operating name for Bank of Montreal)

    Modern Times Group

    Sonangol

    JP Morgan

    Charles Stanley

    Ritchie Bros

    Africa Greenco

    Aquiline

    Atrato

    Taylor Maritime

    Jisheng Gao

    Patrizia AG

    Infopro Digital Holding (UK)

    Work highlights

    • Acted for Modern Times Group on three major acquisitions in the gaming industry and its sale of ESL Gaming, a global e-sports business.
    • Advised Greencoat UK Wind PLC on a number of corporate acquisitions over the course of 2021 as part of its renewables acquisition programme.
    • Advised Taylor Maritime Investments Limited on the tax aspects of its initial public offering on the Premium Segment of the Main Market of the London Stock Exchange – the first shipping IPO for several years.

    Simpson Thacher & Bartlett LLP

    Simpson Thacher & Bartlett LLP fields a tax team composed of English and US-qualified lawyers equipped to support multinational clients on matters across Europe and beyond. ‘Outstanding practitioner’  Yash Rupal leads the team, and has more than 30 years experience representing UK and international clients on a broad range of corporate tax matters. Senior Counsel Mark Kingstone, who joined from Linklaters in 2020, advises on M&A, corporate reorganisations, and complex financings. Senior associate Caleb McConnell, who joined from Sidley Austin LLP in March 2021, and associate Ellie Verran, are also noted, while the team is continuing to grow with the recent addition of Sarah Lindley from Linklaters LLP.

    Practice head(s):

    Yash Rupal

    Other key lawyers:

    Mark Kingstone; Ellie Verran; Caleb McConnell; Sefia Jivraj; Sarah Lindley

    Testimonials

    ‘Yash Rupal is an outstanding practitioner.’

    ‘Intelligence and application to the task at hand together with a deep understanding of both the UK tax landscape and, perhaps just as important, the legal impact of the underlying transactions and structures being deal with.’

    ‘The team led by Yash Rupal combines unparalleled technical excellence and experience with exceptional customer service which is second to none across the various top tier legal firms I deal with regularly. I use STB tax because they are the best.’

    ‘The partners and associates I deal with go above and beyond to meet my needs, constantly working to very challenging time scales and consistently deliver excellence. Yash Rupal and Mark Kingstone bring a deep understanding of my business and of the industry.’

    ‘I have worked with Yash Rupal for over two decades as my go to lawyer and the tax practice he has built at STB in a relatively short time is impressive to say the least.’

    ‘The tax team is truly global providing a seamless service across multiple jurisdictions. The UK tax team exceeds expectations every time and is first amongst equals with its competitors in the domestic magic circle.’

    ‘The multiple interfaces with other disciplines in the firm is managed in a focused way to ensure minimum friction.’

    ‘Yash Rupal is the stand out here. He combines top of the range technical knowledge with creativity and sound commercial good sense.

    Key clients

    Bridgepoint

    Viridor (Portfolio company of KKR)

    Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC

    Silver Lake

    Gates Industrial Corporation, (Portfolio company of Blackstone)

    CBRE

    Hews Gray (Portfolio company of Blackstone)

    Baltic Classifieds Group (Portfolio company of Apax Partners)

    Primavera Capital Group

    KKR and its affiliates

    Blackstone

    Consortium

    Blackstone

    H.I.G. Capital, LLC

    Aston Martin

    Initial Purchasers led by J.P. Morgan

    Blackstone Capital Partners and Blackstone Real Estate

    BTG Pactual

    Patricia Industries and Advanced Instruments

    Bruin Sports Capital, a portfolio company of CVC Capital

    Weil, Gotshal & Manges (London) LLP

    Weil, Gotshal & Manges (London) LLP brings ‘technical excellence’  to a broad range of practice areas including private equity, corporate M&A, insolvency, and restructurings. ‘Great to work with‘ practice co-head Oliver Walker has particular experience advising clients on the tax issues of corporate transactions, and advises a broad range of clients from across the UK, US and EU. Co-head Jenny Doak has a strong reputation in the energy and natural resources sector, and advises on both contentious and non-contentious work. Aron Joy covers private and investment funds, and frequently works on matters with complex cross-border issues. Counsels Daniella Abel and Stuart Pibworth are also noted.

    Practice head(s):

    Oliver Walker; Jenny Doak

    Other key lawyers:

    Aron Joy; Damiella Abel; Stuart Pibworth

    Testimonials

    ‘London team are great to work with, Oliver Walker and Stuart Pibworth in particular.’

    ‘Responsive with excellent experience.’

    ‘Jenny Doak, Daniella Abel – both are able to explain complex matters in a concise and digestible format.’

    ‘Very good industry knowledge and good network of overseas local counsel.’

    ‘Very responsive, good industry knowledge ability to explain things to non tax experts.’

    ‘Approachable and solutions focused team, quick to get into the detail and to propose practical ways forward. Experience with other firms is that they may provide insight but they aren’t as good at presenting solutions or sticking up for the client’s position.’

    ‘The Weil tax team consistently display excellent client service, exemplified by an ability to explain complex contractual matters to non-lawyers in a clear, concise, and commercial manner. They are always accessible and very responsive, and work well in conjunction with their commercial colleagues.’

    ‘Technical excellence combined with thoroughness of approach!’

    Key clients

    Depop Limited

    Wejo Limited

    Ad Hoc Lenders for Nordic Aviation Capital

    River and Mercantile Group plc

    Gores Guggenheim

    AMC Entertainment Inc. (Odeon Cinemas Group)

    Advent International Corporation

    Kantar Group Holdings Ltd

    Jonathan de Pass

    Bain Capital

    Omers Private Equity

    Howden

    Brookfield Asset Management

    ICG Enterprise Trust plc

    InfraRed Partners LLP

    Ares Management

    Goldman Sachs Asset Management

    Work highlights

    • Advised Depop and its selling shareholders on the sale of the company to Etsy, the US-based online marketplace.
    • Advised ICG Enterprise Trust plc in connection with a change to available financing following the COVID-19 pandemic, which involved a hive down of over 70% of the Investment Trust’s current portfolio to a new subsidiary limited partnership.
    • Advised funds managed by the Credit Group of Ares Management Corporation and the Private Credit business within Goldman Sachs Asset Management on financing for the takeover of Wm Morrison Supermarkets plc by Clayton, Dubilier & Rice.

    Addleshaw Goddard

    Addleshaw Goddard is active across multiple sectors, including private equity, financial services, and real estate. Justine Delroy leads the team from the Manchester office, and is a specialist in private equity transactions. Delroy is supported by London-based Peter Sayer, who covers real estate tax mandates, particularly in the residential sector. Paul Concannon acts on the full range of corporate transactions, and this year advised on the tax elements of Rothermere Continuation’s acquisition of Daily Mail and General Trust plc.

    Practice head(s):

    Justine Delroy

    Other key lawyers:

    Peter Sayer; Paul Concannon; Charlotte Fallon

    Testimonials

    ‘The tax team are well integrated with other practice areas and aware of transactions, proactively raising issues with us (the client). The tax team have a good understanding of our business and suggest well thought-through solutions.’

    Key clients

    HUB

    Rothermere Continuation

    Sanne

    Metro Bank

    Terra Firma

    AIB

    Barclays

    Danske

    HSBC

    Lloyds

    NatWest

    Santander

    Virgin Money

    Rathbones

    Lancashire Pension Fund

    David Alexander and John Alexander (shareholders of DJ Alexander Holdings Limited)

    StoneX

    Phoenix Equity Partners

    Work highlights

    • Advising Rothermere Continuation on its acquisition of Daily Mail and General Trust plc.
    • Providing a full takeover service to Sanne on all aspects of its £1.5bn takeover by the Apex Group.
    • Acting for HUB on a range of large scale forward funded residential developments.

    Debevoise & Plimpton LLP

    Debevoise & Plimpton LLP fields a ‘high calibre‘ team with significant private equity experience. Co-managing partner Richard Ward works on high value private equity transactions, to which he brings ‘broad perspectives and insight‘. Ward jointly leads the department with Matthew Saronson, whose focus is on advising sponsors and investors on US and international tax. Cecile Beurrier has expertise in the structuring and formation of private equity and debt funds. ‘Excellent’ international counsel Jennifer Wheater is also a key name.

    Practice head(s):

    Richard Ward; Matthew Saronson

    Other key lawyers:

    Cécile Beurrier; Jennifer Wheater; Matthew Pincus

    Testimonials

    ‘Very senior, experienced, high calibre group with clout.’

    ‘Richard Ward: Very wise and sensible, as well as obviously technically skilled. Broad perspectives and insight.’

    ‘In depth knowledge of challenging tax technical concepts, responsiveness, connectivity with advisors all over the world.’

    ‘Jennifer Wheater is one of the best tax advisers I have come across. Her responses to tax matters that arise are always comprehensive and a result of thorough investigation. Also, her personal skills are outstanding. Cécile Beurrier is very helpful in negotiations with the counterparties and able to provide solutions to any problems we may face. Her in-depth knowledge and expertise in tax law enables her to offer strategic and practical advice of great value.’

    ‘Succint. Straight to the point. Creative. Precise. Think out of the box.’

    ‘This is a very high quality team that focuses on top end clients. They are selective about what work they choose to do and do not try and be all things to all.’

    ‘Debevoise’s tax team belongs to the “creme de la creme” when it comes to funds/secondaries.’

    ‘They know the industry they work for extremely well. They have a very balanced approach, are well organised, always available and solutions driven.’

    Key clients

    Clayton, Dubilier & Rice

    Leapfrog Investments

    Glendower Capital

    Allianz Capital Partners

    Fitzwalter Capital

    Ultranav Limitada

    Joh A Beckinser

    HarbourVest Partners

    Smartly.io

    Work highlights

    • Advised CD&R on tax aspects of the bid, structure and financing arrangements regarding its investment into Wm Morrison Supermarkets plc.
    • Advised Leapfrog on the tax aspects of a strategic partnership arrangement with Singapore state investment company Temasek.
    • Advised Glendower on the tax aspects of their acquisition by CVC Capital Partners.

    Dentons

    Dentons is active in the tax risk and W&I insurance space. Global tax co-chair Alex Thomas leads the group, and covers a broad range of matters, with a particular aptitude for those with international elements. Alex Tostevin has expertise in private equity.

    Practice head(s):

    Alex Thomas

    Other key lawyers:

    Alex Tostevin; Alastair MacLeod

    Testimonials

    ‘The service provided by Dentons is exceptional, as their professional approach towards delivering appropriate and timely advice, sound knowledge of the industry, competent team members, and dedication towards meeting our requirements make them unique. The team members have always made sure that we experience value added in all our corporate tax practices.’

    ‘The hard work and commitment of the individuals make the services of Dentons unique.’

    ‘Alex Tostevin is an acknowledged expert in the VAT field, particularly in the area of investment funds.’

    Work highlights

    • Advised Swiss Life on its acquisition of Baring’s European logistic portfolio.
    • Advised long standing client, AM FRESH Group, in relation to its continued investment in the Special New Fruit Licensing Group (SNFL Group) with Paine Schwartz Partners.
    • Advised CompareTheMarket owner BGL Group on the sale of BGL Insurance, a digital distributor of insurance and household financial services, to Markerstudy.

    DLA Piper

    DLA Piper advises on the spectrum of tax issues, including transactions, corporate reorganisations and transfer pricing. Department head Ben Brown has expertise in corporate transactions, finance work, and M&A matters with international elements. Richard Woolich handles funds, joint ventures, and real estate transactions. Matthew Davies, who made partner in 2021, advises on insurance and corporate reorganisations.

    Practice head(s):

    Ben Brown

    Other key lawyers:

    Richard Woolich; Matthew Davies

    Testimonials

    ‘DLA Piper is not just a global legal firm; it is THE global legal firm.’

    ‘Richard Woolich, Head of UK Tax is unparalleled in my experience. He is wonderful; an attentive and extremely knowledgeable professional with a brilliant client focus. Richard won’t let you down; he always makes himself available and no question is too challenging or too mundane.’

    ‘Richard Woolich – vastly commercially experienced and a really brilliant technician.’

    Key clients

    Miller Homes

    Standard Life

    Euclid Transactional

    Waypoint Investment Management

    Work highlights

    • Advised the management team of the Miller Homes group in connection with the sale of the group to funds managed by Apollo.
    • Advised Standard Life on the tax implications of the £1.7 billion full scheme buy-in for 7,600 members of the Gallaher Defined Benefit pension scheme.

    Eversheds Sutherland (International) LLP

    Eversheds Sutherland (International) LLP offers clients full corporate tax coverage, with experience in tax risk insurance work, investment fund taxation, and real estate investments. Ben Jones leads the team, and focuses on high value M&A, investments and reorganisations, frequently with cross-border elements. Jones works closely with principle associate Helen Mackey, who is identified as ‘excellent’. Paul Beausang leads on real estate tax, while Deepesh Upadhyay handles the tax aspects of domestic and international finance transactions.

    Practice head(s):

    Ben Jones

    Other key lawyers:

    Camilla Spielman; Paul Beausang; Deepesh Upadhyay; Henry Bolton; Helen Mackey

    Testimonials

    ‘The team is comprised of hard-working, erudite, commercial tax lawyers.’

    ‘Ben Jones is always available and quickly flags the salient points that may affect our commercial position. Helen Mackey is excellent.’

    ‘Strong multi disciplinary practice.’

    ‘Deepesh Upadhyay – a high calibre individual in financial transaction space.’

    ‘Excellent client service. Partner availability is excellent, and also quality of associates.’

    ‘Pragmatic approach.’

    Key clients

    AIG Europe

    Aviva

    Zurich

    Liberty Mutual

    HCC Tokio Marine

    Euclid

    Brockwell Capital

    Berkshire Hathaway

    VALE

    Phoenix Life Limited

    Eutelsat Communications

    Legal & General

    Vanta Education (formally Apollo Global)

    Kinetic Capital/PBSA Debt Strategies I SCSp

    Octopus Investment Limited

    Tesco Pension Scheme

    SEGRO plc

    Zirconia Trading Limited (Zetland Capital)

    Deka Bank

    London Inflation Plus Fund

    Work highlights

      Fried, Frank, Harris, Shriver & Jacobson LLP

      Fried, Frank, Harris, Shriver & Jacobson LLP advises clients, such as Goldman Sachs and BlackRock, on the gamut of management and transactional tax matters. The department work effectively on multinational matters, this year assisting Yellow Wood Partners with its acquisition of the rights to the Scholl footcare brand, which involved in excess of 37 jurisdictions. Team leader Nick Thornton covers M&A, restructurings, and fund formations. Associates Thomas Bramall and Richard Pilgrim are also noted.

      Practice head(s):

      Nick Thornton

      Other key lawyers:

      Thomas Bramall; Richard Pilgrim

      Testimonials

      ‘Hands-on and proactive approach.’

      ‘Nick Thornton is a fine tax lawyer and with a strong capacity to understand all the details in the UK but also foreign tax issues associated with fund formation work.’

      ‘The Fried Frank tax team provides top class tax advice. Their strength are excellent technical capabilities combined with a good sense for their clients commercial objectives, which makes their advice practical and useful. They also work very well together between their different offices.’

      ‘Nick Thornton is an outstanding lawyer, who always manages to break complex issues down to the key points. He also has an excellent knowledge of the general market practice.’

      ‘Very smart and pro active.’

      ‘Pragmatic and always responsive with to the point advice.’

      ‘Willingness and ability to work with the client’s other service providers on a project, working independently but keeping the client informed and seeking input when and where required… they have a great sense for the right touchpoints and frequency.’

      ‘Nick Thornton, Tax Partner – technical knowledge second to none. He has all the answers. Very good at informing on important issues, presenting the alternatives, getting input from the client and follow-through.’

      Key clients

      AEA Investors

      Arcmont Asset Management

      Bain Capital

      BlackRock

      BlueBay Asset Management

      Brookfield Asset Management

      CVC Credit Partners

      Domino’s Pizza Group plc

      Dyal Capital Partners

      Francisco Partners

      Goldman Sachs

      HSBC Asset Management

      iCON Infrastructure

      Jacobs Engineering

      Kennet

      Liberty Global

      LumiraDx

      Permira

      VGO Capital Partners

      Yellow Wood Partners

      Work highlights

      • Advised BlackRock in connection with the raising of its Climate Finance Partnership (CFP) Fund.
      • Fried Frank acted as counsel to Yellow Wood Partners in its definitive agreement to acquire the non-US rights to the Scholl footcare brand from Reckitt Benckiser Group plc.
      • Acted as counsel to Domino’s Pizza Group plc on the sale of Domino’s Pizza GmbH, the holder of the Domino’s master franchise rights in Switzerland.

      Goodwin

      Goodwin‘s team is particularly active on funds and transactional tax matters. Laura Charkin leads the team, and is experienced in the full range of funds. Rob Young, who joined the department in 2019 from Taylor Wessing, advises on tax structurings and financings. David Irvine and Dulcie Daly both joined from Kirkland Ellis in 2021, and cumulatively bring over 35 years’ experience to the team. Katie Leah and Charlotte Haywood are also noted.

      Practice head(s):

      Laura Charkin

      Other key lawyers:

      David Irvine; Dulcie Daly; Robert Young; Katie Leah; Charlotte Haywood; Matthew Birchall

      Testimonials

      ‘I find the quality, precision and accessibility of the advice provided to be superlative.’

      ‘Rob Young is brilliant! He has that great ability to provide advice on complex issues in a clear and accessible manner.’

      ‘The Goodwin tax practice partner was able to clearly articulate the matter at hand as well as make a recommendation that was aligned to UK requirements as well as our business needs. He was able to draw on practical and practiced experience to manage our expectations and demands.’

      ‘A knowledgeable team with depth in their practice.’

      ‘Excellent technical strength and breadth of team, availability of tax partner, and in-depth knowledge of complex matters. Bridge tax advice to implementation to corporate legal team very well.’

      ‘Dulcie is an excellent resource for deal advice and implementation. She is very user friendly and exceptionally hard working to deal with pressures of deal work.’

      Key clients

      Macquarie

      Bregal Investments

      Investcorp

      Advent International

      Glennmont Partners

      Graphite Capital

      M7 Real Estate

      Mayfair Equity Partners

      LGT Capital Partners

      TowerBrook Capital Partners

      Work highlights

      • Advised Ares Management Corporation on the structuring and fundraising of Ares European Property Enhancement Partners III SCSp.
      • Advised long-standing client GTT Communications, Inc., a global leader in the provisions of cloud networking services, on the sale of its global infrastructure business to I Squared Capital for US$2.15 billion.
      • Advised TA Associates on the merger of its portfolio company Soft Topco AS with 2020 Technologies Inc., a portfolio company of Genstar Capital.

      Mishcon de Reya LLP

      Mishcon de Reya LLP are particularly active in the real estate sector, providing tax structuring and consultancy advice on the full spectrum of matters in this area. The team also has specialist tax knowledge of niche sectors including betting and cryptocurrency. Jonathan Legg is head of real estate tax, and acts for major clients such as Derwent, Dominvs and Berkeley. John Skoulding leads the corporate tax offering, covering private equity, corporate, and individual tax. Experienced tax partner Gary Richards is a key name.

      Practice head(s):

      John Skoulding; Jonathan Legg

      Other key lawyers:

      Gary Richards; Stephen Elhabbal

      Key clients

      Feelunique Holding Limited

      Gaming Innovation Group PLC

      Advanced Business Software and Solutions Limited

      Dominvs Group

      Berkeley Group

      Derwent London

      Watkin Jones Group PLC

      Brookfield

      PGIM Real Estate

      Architecture Invest LP

      Charlie Mullin and Scott Mullins

      Systal Holdings Limited

      Xceptor

      Work highlights

      • Advised the management team of Feelunique on all tax issues relevant to its sale to Sephora.
      • Advised Advanced, the UK’s third largest provider of business software and services, on its acquisition of bksb Limited.
      • Advised Brookfield on its acquisition of £330 million worth of UK retail park assets from Hammerson Plc and the simultaneous financing of the same.

      Pinsent Masons LLP

      Pinsent Masons LLP‘s ‘responsive and helpful‘ team is particularly active in relation to technology, infrastructure, energy, and real estate, and works internationally across jurisdictions including the US, India, Israel, and Japan. Department head Eloise Walker is experienced working on transactions, including securitisations and IPOs, for high profile clients such as Jaguar Land Rover, Tesco, and RBS. Legal director Hatice Ismail joined from Simmons & Simmons, where she was as a tax partner, in 2020, and brings broad experience of M&A, finance, and investment fund taxation. Legal director Penny Simmons advises on corporate tax risk management, including corporate criminal tax offences. Senior consultant Richard Croker and associate Jamie Robson are also noted.

      Practice head(s):

      Eloise Walker

      Other key lawyers:

      Penny Simmons; Hatice Ismail; Jamie Robson

      Testimonials

      ‘Professionalism allied to common sense and pragmatism borne of relevant experience.’

      ‘Penny Simmons encapsulates the ethos of PM, always available, always approachable and always providing good, practical and yet still robust advice.’

      ‘Very detailed and personalised service. Dealt with complex tax matters very thoroughly and thoughtfully and negotiated a good and fair result.’

      ‘Attention to detail, quick response, clarity of communication and clear and quick thinking.’

      ‘Penny is an immensely knowledgeable advisor with a very clear and practical advice style. Advice is commercially contextualised and given in an accessible format that can be quickly and easily communicated to colleagues in the business.’

      ‘Clear, crisp and practical advice on M&A transactions. The explanations are plain and simple, and where a decision has to be made the Pinsent Masons team offer clear rationale for the alternatives.’

      ‘Jamie Robson – his ability to cut through the mud and get to the core of an issue. He does this in a calm and assured manner, never panicking. In the M&A environment this is enormously reassuring.’

      ‘Very responsive and helpful.’

      Key clients

      TotalEnergies

      Red Ventures

      M Group

      Lloyds

      Kier

      HSBC

      Huntsworth Group

      Condeco

      Teva

      RPMI Railpen

      Work highlights

      • Advised 4D Pharma plc in connection with a private placement to certain institutional investors and accredited investors based in the US and UK, which was achieved via a merger with a NASDAQ listed SPAC.
      • Sdvised the shareholders and management on the disposal of Condeco Group Limited to US-based private equity fund Thoma Bravo.
      • Advised Prax Petroleum Limited on a $750m securitisation of receivables derived from its oil trading business.

      Proskauer Rose LLP

      Experienced and efficient’ Proskauer Rose LLP is noted for its private equity expertise, and has additional aptitude in areas such as M&A and real estate. Practice head Robert Gaut handles a broad variety of areas encompassing fund formation, structuring and real estate. Stephen Pevsner is experienced in the full life cycle of private fund-related transactions, while managing partner Mary Kuusisto advises high value clients on both US and UK tax law. Catherine Sear handles cross-border taxation matters for individuals, corporations and partnerships.

      Practice head(s):

      Robert Gaut

      Other key lawyers:

      Stephen Pevsner; Mary Kuusisto; Catherine Sear

      Testimonials

      ‘Large tax team experienced and efficient in fund formation and transactional work.’

      ‘Robert Gaut and Catherine Sear are very good.’

      ‘The team provides a great combination of superior technical expertise along with the ability to positively interact with prospective and existing investors. The team’s ability to explain technical items to non-tax professionals and gain their trust and comfort is second to none.’

      ‘Mary Kuusisto is the best tax attorney in private equity – full stop. There is nobody that compares to her technical knowledge and ability to manage client and investor relationships.’

      Key clients

      17Capital

      7RIDGE

      Accor

      Antin Infrastructure Partners

      Ardian

      Arkema Inc.

      BentallGreenOak

      Blossom Capital

      Deliveroo

      GIC and Blackstone Credit

      Golub Capital

      Greenspring Associates

      Hollyport Capital

      Onex Falcon

      Park Holidays UK Ltd.

      Responsible Life and Responsible Lending (the Responsible Group)

      Ropes & Gray LLP

      Ropes & Gray LLP advises global clients in the areas of private equity, fund formation, real estate, and banking & finance. European tax practice head Brenda Coleman  leads the department, and has a strong reputation in international tax planning. Andrew Howard focuses on financing aspects of high value transactions, such as Baring Private Equity Asia’s $2.8bn acquisition of Tricor Group. Newly promoted partner Chris Agnoli works on both domestic and international tax matters.

      Practice head(s):

      Brenda Coleman

      Other key lawyers:

      Andrew Howard; Chris Agnoli

      Testimonials

      ‘Brenda Coleman is the beacon of the tax team.’

      ‘Brenda Coleman is very experienced, hands-on and pragmatic.’

      ‘Excellent in working on international private equity transactions, were timing can be extremely tight, experience counts for a lot and working together in various jurisdictions is of great importance.’

      ‘Brenda Coleman – very experienced, quick and knowledgeable on international and UK tax matters. A joy to work with! Andrew Howard – sharp tax mind, commercial, eye for relevant tax details but without losing sight of the bigger transactional picture.’

      ‘Brenda Coleman and Andrew Howard advise us on the tax aspects of particular private equity investment products. They combine strong sector knowledge with a pragmatic and “can do” approach.’

      ‘The team are incredibly well organised, with clear working groups supporting each project while being able to leverage expertise across the wider team as needed.’

      ‘Great tax team, lots of international experience, especially good at working on UK/US/EU cross border tax matters.’

      Key clients

      Baring Private Equity Asia

      TPG Capital

      ERM

      3i Group

      Bridgepoint Development Capital

      Inflexion

      Advent International

      NeoGenomics, Inc.

      SC Health Corp.

      Intermediate Capital Group

      GIC

      Quadreal Property Group

      Partners Group

      Liberty Global

      Work highlights

      • Advised BPEA on the tax aspects of its acquisition of Tricor Group (Tricor), Asia’s leading business expansion specialist whose corporate mission is to facilitate globalisation in Asia, and related financing.
      • Advised TPG’s portfolio company WellSky Corporation on the tax and incentive aspects of the sale of WellSky International to System C Healthcare.
      • Advised ERM, the world’s largest pure-play sustainability consultancy, and the ERM Partner shareholders, on the tax aspects of the sale of ERM to KKR, a leading global investment firm.

      Sidley Austin LLP

      Sidley Austin LLP is particularly active in the private equity sphere, where the team has experience advising on major transactions with complex elements. ‘First class’ team lead Oliver Currall covers investment fund matters, acting for key clients such as Apollo Global Management. Jason Menzies is experienced in international tax planning matters and high-value M&A. Counsel Steve Quinn joined the department in July 2021 from Milbank, and brings knowledge of structured finance transactions.

      Practice head(s):

      Oliver Currall

      Other key lawyers:

      Jason Menzies; Steve Quinn

      Testimonials

      ‘Oli Currall – always available, brings a very practical, commercial approach to tax issues.’

      ‘Oliver Currall is my preferred UK tax advisor. Technically strong, attentive, in touch with market, commercial.’

      ‘An exceptionally friendly and approachable team that always demonstrates a ‘no problem too small’ attitude and a desire to really foster a working relationship that benefits both parties. True partners.’

      ‘Oliver Currall is first class partner who combines deep technical knowledge with strong commercials to provide excellent, all round service. Jason Menzies is also an incredibly fierce negotiator that cuts to the crux to expedite and resolve complicated matters.’

      ‘Excellent technical knowledge and good understanding of US-UK cross border fund matters. Extremely user friendly and practical.’

      ‘Oliver Currall is an excellent adviser and has an in-depth technical knowledge understanding for fund investors and portfolio investments.’

      Key clients

      Athene Holding

      Partners Group

      Great Hill Partners

      Kohlberg, Kravis & Roberts

      Arthur J. Gallagher & Co.

      Apollo Global Management

      EQT Partners

      China National Oil and Gas Exploration and Development Company Ltd.

      Membership Collective Group (Soho House)

      Work highlights

      • Advised funds managed by Apollo on their agreement to acquire Miller Homes Group Limited (Miller Homes) from private equity seller Bridgepoint Group plc.
      • Advised Partners Group, a leading global private markets firm, on expanding the shareholder base of International Schools Partnership (ISP), a leading international group of schools.
      • Represented Athene Holding (a major team client) in its merger with Apollo (another major team client), in an all-stock transaction.

      Stephenson Harwood

      Stephenson Harwood has a team with expertise in domestic and cross-border M&A. John Meehan and Kate Worthington share a focus on real estate matters.

      Other key lawyers:

      John Meehan; Hilary Barclay; Kate Worthington

      Work highlights

        Bird & Bird LLP

        Bird & Bird LLP is particularly active on tax issues in the FinTech space. The department also works alongside the firm’s Media, Entertainment and Sport sector team to advise high profile clients such as Six Nations Rugby. Team leader Zoe Feller is ‘superb’, and is experienced working with teams across multiple jurisdictions on complex tax matters. Associate Andrew Rink assists on a broad range of matters, from M&A and structuring investments to private equity transactions.

        Practice head(s):

        Zoe Feller

        Other key lawyers:

        Andrew Rink

        Testimonials

        ‘Zoe Feller is superb. Very commercial and measured.’

        Key clients

        Databarracks

        Gamma Communications plc

        Six Nations Rugby

        JobandTalent

        Tech Mahindra

        Acendre Technologies

        Shackleton Holdings

        Cork Gully

        MSA Safety

        Work highlights

        • Advised Databarracks on its acquisition of 4sl. Negotiated a tax covenant for all subsidiaries acquired and advised on the tax aspects of the financing.
        • Advised communications services provider Gamma on the acquisition of Mission Labs in the UK.
        • Advised Six Nations Rugby, organiser of the Six Nations Championships, on a private equity investment by CVC Capital Partners (CVC).

        Cadwalader, Wickersham & Taft LLP

        Cadwalader, Wickersham & Taft LLP‘s ‘top-in-class’ tax team are particularly experienced on cross-border matters, acting on a range of multijurisdictional tax work including structured financing, M&A, and real estate transactions. Practice head Adam Blakemore advises on a full spectrum of financing transactions, and has expertise in the structuring and restructuring of funds. Catherine Richardson, who made partner in January 2022, advises on transactions. Associate Hugo Chan is also noted.

        Practice head(s):

        Adam Blakemore

        Other key lawyers:

        Catherine Richardson; Hugo Chan

        Testimonials

        ‘The corporate tax team at Cadwalader is top-in-class. The extensive knowledge of current tax rules and proposed new tax developments, combined with their practical insights in applying them make their services invaluable.’

        ‘Adam Blakemore and Catherine Richardson are exceptional professionals – highly competent, accessible and always helpful in their advice. I trust them completely.’

        ‘CWT has the ability to articulate complicated tax issues to lay-people and they always take the time to discuss issues and keep us abreast on market developments. Real strength and depth of team. Ability to advise on complex, structured finance deals.’

        ‘We always feel confident when Adam represents us and he takes a great weight off of our shoulders. We feel fortunate to have come across Adam on our deals.’

        Key clients

        Investec Bank Plc

        RGA Americas Reinsurance Company

        Credit Suisse

        Gresham House

        Greencoat UK Wind

        Collateralised Loan Obligations (CLOs)

        Invesco Real Estate

        Hudson Executive

        Fund Finance Transactions

        Belmont Green Finance

        Work highlights

        • Advising Greencoat UK Wind on Oversubscribed £450 Million Share Issuance.
        • Acting as Deal Counsel to Credit Suisse on Landmark European CRE CLO.

        Cleary Gottlieb Steen & Hamilton

        Cleary Gottlieb Steen & Hamilton advises multinational clients on a range of high value M&A transactions, frequently with complex cross-border elements. Richard Sultman covers tax aspects of corporate finance, debt restructurings, and funds.

        Other key lawyers:

        Richard Sultman; Laura Mullarkey

        Testimonials

        ‘Richard Sultman is creative and helped to navigate the complexity of the tax environment post Brexit.’

        ‘It’s an international team, they collaborate well on US/ UK matters. They have a broad range of expertise from investment, regulatory, corporate and personal tax matters. They are willing to join whatever calls are necessary and impart their knowledge. They give practical advice which is proportionate to our business needs/ age/ direction.’

        ‘They are incredibly professional, sympathetic to needs and honest. Their advice is sound, practical and easy to digest when you’re not a subject matter expert.’

        Key clients

        Euronext

        Cascade Investment L.L.C.

        Tempur Sealy International Inc.

        TPG

        Goldman Sachs

        Google

        BNP Paribas

        LivaNova

        Republic

        Walgreens BootsAlliance, Inc.

        Work highlights

        • Advised Euronext in its €4.4 billion cash acquisition of the Borsa Italiana Group (the primary stock exchange in Italy) from London Stock Exchange Group.
        • Advised Cascade on the recommended cash acquisition of Signature Aviation, as part of a consortium with Blackstone and Global Infrastructure Partners.
        • Advised Tempur Sealy International on its acquisition of Dreams from Sun Capital Partners.

        Clyde & Co

        Clyde & Co has a team with significant experience in the taxation elements of insurance, real estate, and M&A. The department also act on tax professional negligence issues, and have a growing contentious tax practice. Team lead Ray Smith has more than 30 years’ experience, and advises on tax planning, litigation, and the full range of transactions. David Blumenthal handles mergers, acquisitions, and disposals, and joint venture structures. Associates Malcolm Frost and Farhad Shahidi are also recommended.

        Practice head(s):

        Ray Smith

        Other key lawyers:

        David Blumenthal; Malcolm Frost; Farhad Shahidi; Alice Parsons

        Testimonials

        ‘Able to describe complex tax schemes in a simple and understandable way.’

        ‘The level of understanding of the tax schemes is not just at Partner or Senior associate level but at associate level.’

        Key clients

        One Braham S.A.R.L.

        Meteor S.A.R.L – a subsidiary of the Ares investment group

        A consortium of five international energy companies

        Grainger Residential Limited (part of the Grainger PLC group)

        Osborne Development Holdings Limited

        Egis

        U+I Plc ( now part of Land Securities Plc)

        Native Land Limited

        Mylecke NV

        Signal Capital Partners

        B&Q Limited

        Regal

        Chatsworth Schools

        JetBlue

        Work highlights

        • Advised on the sale of the Luxembourg holding company (SOF-10 Beagle Investments) that owns One Braham, to a German fund, for a price in excess of €500 million.
        • Acting for Grainger on a forwarding funding of over 400 new residential units plus commercial space in Southall.
        • Acting for Mylecke NV on the joint venture & financing of residential development at Leas Pavilion, Folkestone.

        Cooley (UK) LLP

        Cooley (UK) LLP is particularly active in the capital markets and private equity space, in addition to working on both domestic and cross-border transactions. Practice head Natasha Kaye specialises in the life sciences and technology sectors, and has expertise in cross-border reorganisations and M&A. David Wilson‘s practice covers both advisory and transactional matters, which include tax structuring, debt financing and investments. Associate Jack Jones is a key name.

        Practice head(s):

        Natasha Kaye

        Other key lawyers:

        David Wilson; Jack Jones

        Testimonials

        ‘Practical, commercial advice’

        ‘Natasha Kaye – gets to the heart of the issue.’

        ‘Natasha Kaye is excellent – super responsive, easy to deal with, great technical and commercial knowledge.’

        Key clients

        Chegg

        Snyk

        Immunocore Holdings plc

        Thrasio

        Primary Capital Partners

        Battery Ventures

        Exscientia AI plc

        Susquehanna Private Capital

        Karo Pharma AB

        Omaze

        Morgan Stanley

        Goldman Sachs

        Bicycle Therapeutics plc

        Brandwatch

        Prothena

        HitGen Inc

        Eliem Therapeutics

        Endava plc

        Contentsquare

        Autolus Therapeutics plc

        Work highlights

        • Advised Exscientia on its Series D funding round, which closed in May 2021.
        • Advised the management team of Calypso Technology, Inc., on its $3.7 billion sale to Thoma Bravo.
        • Advised Snyk, a cybersecurity software company, on numerous matters including its $530 million Series F financing, which brings the company’s valuation to $8.5 billion.

        Greenberg Traurig, LLP

        Greenberg Traurig, LLP specialises in tax elements of corporate transactions, investment funds and real estate. The department is led by Graham Iversen, who has more than 30 years’ experience in the practice area, and advises on M&A transactions. Charles Case focuses on investment funds and complex joint ventures. Ben Eaton advises on tax aspects of real estate transactions and investments, while ‘tax guru’ Clive Jones covers structuring and tax elements of domestic and international transactions.

        Practice head(s):

        Graham Iversen

        Other key lawyers:

        Ben Eaton; Charles Case; Clive Jones; Jessica Ganagasegaran

        Testimonials

        ‘The partners at GT are exceptional – the best I have worked with due to their commercial mindedness and technical expertise.’

        ‘Clive Jones – An absolute tax guru who we can pull into any tax-related matter to resolve an issue. Ben Eaton – A pragmatic problem solver who is adept at managing large scale cross-border projects with multiple stakeholders.’

        ‘The team is quite simply top class. What sets them apart from other law practices is this field is their in-depth knowledge of the business and strong technical competence.’

        ‘Their attitude to their clients is remarkably positive, they care passionately about developing relationships, and they are always on hand to solve problematic issues with practical solutions.’

        Key clients

        Allianz

        Api Group Corporation

        Dream Industrial REIT

        Blackrock Real Assets

        Revcap Advisors Limited

        Linus Digital Finance AG

        Rentokil Group plc

        Ark Data Centres

        Oval Real Estate Limited

        Atlas Copco North America LLC

        Work highlights

        • Advised Allianz on the completion of the acquisition of Aviva’s operations in Poland and Lithuania for over EUR 2.5 billion.
        • Represented APi Group in respect of its USD3.1bn acquisition of the fire and safety solutions business of Chubb.
        • Advised Canadian Dream Industrial REIT on the acquisition from Clarion Europe of a corporate group holding a portfolio of 31 logistics properties for €882m.

        McDermott Will & Emery UK LLP

        McDermott Will & Emery UK LLP handles advisory, transactional and structuring work, and are experienced on complex matters involving cross-border elements. Practice head Kevin Cummings joined the firm in October 2021 from Deloitte, and brings expertise in banking, private equity, and M&A matters. Senior associate Sarah Gabbai has significant experience in the practice area, which she utilises to advise on tax elements of transactions and restructurings.

        Practice head(s):

        Kevin Cummings

        Other key lawyers:

        Sarah Gabbai

        Testimonials

        ‘Highly diligent, responsive and possessing a strong pro bono ethos.’

        ‘Sarah Gabbai stands out in terms of her exceptional diligence, responsiveness and breadth of tax law expertise – equally apparent in her highly committed pro bono work.’

        ‘Very knowledgeable team, responsive, client focused with a broad understanding of the asset management business.’

        ‘Kevin Cummings is not only a extremely knowledgeable tax advisor but also able to find pragmatic, client-focused solutions.’

        ‘Sarah Gabbai is an excellent lawyer – combines intelligence with empathy.’

        Key clients

        TA Associates

        Puttshack Ltd

        Great Point Partners

        Maitland International Partners

        WEP Clinical

        High profile pro-bono project

        Ampersand

        British Asian Trust

        SilverTree Equity

        BT Pension Scheme

        CFA Institute

        Cygnet Healthcare

        Centene Corporation

        Management of Unilabs

        Eight Roads Holdings

        Signa Sports United

        Management of Winncare

        Work highlights

        • Represented TA Associates, a leading Boston-based private equity firm focused on the technology and healthcare sectors, in its acquisition of Smiths Medical.
        • Provided WEP Clinical with strategic advice relating to its sale to The Jordan Company.
        • Acted for Puttshack Ltd in connection with a $60 million growth capital investment round.

        Milbank

        Milbank is instructed on complex corporate transactions, including M&A, joint ventures, and securitisations. The group has niche expertise in aviation taxation, which draws key clients from the sector such as Carlyle Aviation Partners. Lead partner Russell Jacobs is experienced in the gamut of corporate tax matters. Andrew Callaghan and Alan Rafferty joined the firm as special counsel in 2021, with Callaghan coming from Vinson & Elkins RLLP and Rafferty from Freshfields Bruckhaus Deringer. They join associate Cosmos Fung, who came from Gibson, Dunn & Crutcher in 2020.

        Practice head(s):

        Russell Jacobs

        Other key lawyers:

        Andrew Callaghan; Cosmos Fung; Allen Rafferty

        Work highlights

          Osborne Clarke LLP

          Osborne Clarke LLP provides advisory and transactional support across key sectors which include TMT, real estate, and private equity. The team is co-led by Tracey Wright and Erika Jupe. Wright leads the UK tax offering, and specialises in real estate and infrastructure. Jupe heads the international tax practice, and covers transactions and structuring with multinational elements. Mathew Oliver covers M&A work, while David Nisbet has expertise in private equity matters.

          Practice head(s):

          Tracey Wright; Erika Jupe

          Other key lawyers:

          Mathew Oliver; David Nisbet; James Hamon; Rob Thomas

          Key clients

          Foresight Solar Fund Limited

          Davies Group

          Tenzing Private Equity

          Lloyds Development Capital

          Synova Capital

          Risk point

          PGIM

          Infrared Capital Partners

          Management team of Lovehoney

          Notonthehighstreet

          Work highlights

          • Advising Lovehoney on its merger with WowTech.  
          • Advising on the sale of notonthehigh street.  
          • Advising on the sale of Maple Syrup Group.  

          Paul Hastings LLP

          Paul Hastings LLP has a ‘highly experienced team’, which is highly active on the tax aspects of private equity, investment funds, and banking. Team lead Arun Birla advises UK and international clients on a broad range of matters including M&A and structured finance. Jiten Tank covers structuring and transactions, with experience in real estate matters. Associate Abigail Hung is another key lawyer.

          Practice head(s):

          Arun Birla

          Other key lawyers:

          Jiten Tank; Abigail Hung

          Testimonials

          ‘Clear, concise, commercial advice.’

          ‘Arun Birla is a pleasure to work with. Calm and collected he cuts through to the real issues.’

          ‘Very commercial, great client service.’

          ‘Arun Birla – accessible, responsibe, very commercial and client friendly.’

          ‘Pragmatic, commercial, while very knowledgable not just on tax law but its application within our niche industry.’

          ‘Highly experienced team, which knows about the tweaks and potential loop holes in international tax structuring. Super diligent in their work, great communicators and always solution oriented.’

          Key clients

          Abry Partners II, LLC

          Activum SG

          Oakley Capital

          Pantheon

          Centerbridge

          Vector

          Francisco Partners

          NJJ Capital

          Work highlights

          • Assisted Activum SG with the closings of Fund VI and Fund VII and have also worked closely with them in dealing with the ongoing tax structuring aspects of their funds.
          • Advised Francisco Partners on the tax aspects of the US$1.45 billion acquisition of CDK’s international business which was carved out of CDK Global.
          • Advising multiple banks and funds in relation to tax aspects of the debt facilities provided Cobham’s public-to-private bid to acquire Ultra Electronics for £2.57 billion.

          Reed Smith LLP

          Reed Smith LLP‘s tax team is particularly strong on matters related to TMT, with additional specialties for shipping, financial services, and real estate. Team lead and head of European tax Caspar Fox focuses on M&A deals with cross-border elements. Gareth Amdor has expertise in the private equity sector, while counsel Laura Gould handles transactional tax issues.

          Practice head(s):

          Caspar Fox

          Other key lawyers:

          Gareth Amdor; Laura Gould; Harrison Stimson

          Testimonials

          ‘Responsiveness and efficiency.’

          ‘The tax team within Reed Smith LLP are highly knowledgeable with a pragmatic approach that facilitates the easy execution of M&A type activity.’

          ‘Caspar Fox is an outstandingly good tax lawyer. Everything about him is excellent. His tax knowledge is both wide ranging and highly detailed, meaning that he can often provide instant answers to complex questions.’

          ‘Harrison Stimson is an absolute Rockstar! He supports us on all of our tax projects in the UK and provides the ultimate client service. In addition, he has strong technical tax knowledge and knows the UK market well.’

          ‘The team is excellent, committed and accessible anytime.’

          ‘Analytical mindset.’

          ‘A prompt, pragmatic and solution-focused approach to tax issues.’

          ‘Very good partner engagement.’

          Work highlights

            Taylor Wessing LLP

            Taylor Wessing LLP has an advisory and transactional practice which covers M&A, real estate and IPOs, with a notably strong private wealth offering. Team leader Graham Samuel-Gibbon has niche expertise in tax issues related to IP rights. Peter Jackson, who formerly led the department until May 2021, is experienced advising on cross border structures and transactions, while Liz Wilson covers private equity. James Ross joined the department in July 2022 from McDermott Will & Emery UK LLP, where he was practice head.

            Practice head(s):

            Graham Samuel-Gibbon

            Other key lawyers:

            Peter Jackson; Liz Wilson; James Ross

            Testimonials

            ‘The quick turnaround time and value added advice the practice gave on our matter was very good.’

            ‘We worked with the partner, Liz Wilson. She went out of her way to make herself available as the matter was urgent. Her advice was practical and value adding.’

            ‘Peter Jackson; technical excellence and client committment.’

            ‘Good hands on advice – very practical.’

            ‘Liz Wilson – Sleeves rolled up approach, very commercial but thoughtful.’

            ‘Considerable experience and expertise in the international and UK tax elements of complex IP structuring Ability to distil complicated tax rules in a user-friendly manner Responsiveness and availability.’

            ‘Graham Samuel-Gibbon: Considerable experience and expertise in the international and UK tax elements of complex IP structuring. Ability to distil complicated tax rules in a user-friendly manner. Responsiveness and availability.’

            Key clients

            The Roald Dahl Story Company and its shareholders

            Rezolve

            interactive investor

            Nutmeg

            Current Health

            Wuxi AppTec

            Digital 9 Infrastructure plc

            Dataminr

            Fancy Delivery, Inc

            Medallia, Inc

            Intriva Capital European Principal Investment

            Rutland Partners LLP

            Inflexion

            BentallGreenOak Advisors (UK) LLP

            Work highlights

            • Advising The Roald Dahl Story Company and its shareholders on its sale to Netflix, Inc
            • Advising Rezolve Limited on its $2 bn SPAC deal to go public.
            • Advising WuXi AppTec on its acquisition of OXYGENE to strengthen cell and gene therapy service.

            Watson Farley & Williams LLP

            Watson Farley & Williams LLP‘s tax practice focuses on the energy, real estate, and transport sectors, with a particularly strong reputation for tonnage tax and shipping. Richard Stephens has more than 20 years’ experience with the firm, and has significant expertise in maritime tax, while Tom Jarvis has significant experience in the energy and infrastructure sectors. Chris Kilburn leads the wider corporate services team.

            Practice head(s):

            Chris Kilburn

            Other key lawyers:

            Richard Stephens; Tom Jarvis

            Testimonials

            ‘Richard Stephens is responsive and practical.’

            ‘Richard Stephens offers a consistently high level of advice and counsel.’

            ‘Responsive and professional.’

            ‘Watson Farley has a strong reputation and is exceptional when offering the perfect balance between tax technical advice and commerciality.’

            ‘Tom Jarvis is a tax partner with Watson Farley. We were seeking a combination of a strong technical tax partner with an innate commercial sensibility, and Tom is the perfect combination.’

            ‘Great expertise in the shipping industry – unrivalled against any of its peers.’

            ‘They are able to quickly pick up complexities and provide constructive advice.’

            Key clients

            Lightsource bp

            Virgin Cruises

            EnTrust Global

            Maas Capital Shipping BV

            Navigator Holdings

            Ropemaker Properties – property arm of BP Pension Fund

            InfraRed Capital Partners

            Blue Float Energy

            North Star Renewables

            Oak Hill Advisers

            Work highlights

            • Advised the Blue Ocean strategy division managed by EnTrust Global (“EnTrust”) on its acquisition of Maas Capital Shipping B.V..
            • Advising Virgin Cruises with regards to its first ship, the Scarlet Lady.
            • Advising Lightsource bp in relation to its role as the development services provider in relation to bp’s US$220m acquisition of a 9 GW pipeline of US solar PV projects from independent US solar developer 7X Energy.

            Akin Gump LLP

            Akin Gump LLP‘s tax practice focuses on the financial services sector, and primarily advises on restructurings and cross-border transactions. Stephen Brown was appointed department head in 2022, after joining from Latham & Watkins in 2021. Serena Lee, who made partner in 2022, advises on all aspects of corporate tax. Counsel Matthew Durward-Thomas is also noted for his work on both domestic and international tax matters.

            Practice head(s):

            Stephen Brown

            Other key lawyers:

            Serena Lee; Matthew Durward-Thomas

            Testimonials

            ‘Matthew Durward-Thomas – encyclopaedic knowledge and ability to distill significant tax concepts into non-tax language make him a ‘go to’ for all English tax queries.’

            ‘Akin Gump’s tax advice is practical and based on a thorough understanding of the facts and what the client is seeking to achieve commercially’

            ‘The individuals in the tax department work closely with their corporate law colleagues, and so the advice is properly joined up.’

            ‘Superb cross functional support and collaboration between tax and other work streams within Akin Gump. Being able to use their immense experience from past projects to propose best solution fitting our needs.’

            ‘Matthew was highly responsive and easy to work with. He was able to make complex English law tax specificities more easy to understand.’

            ‘The team balances both an in-depth knowledge of corporate tax law and practice, with a really practical approach that is focussed on solving problems. They really get what clients are looking for, to an extent which lawyers seldom do.’

            ‘Serena Lee’s experience, including time working for HMRC and in China, gives her a really rounded insight and an ability to attack problems from all sides. Serena’s recent promotion to partner was very well-deserved and reflects her value to clients.’

            Key clients

            Royalty Pharma

            The private placement noteholders of NAC Aviation 29 DAC

            Tyrus Capital Management

            The Ad Hoc Committee of Noteholders of Valaris plc

            Ad Hoc Committee of Noteholders intu Metrocentre Finance plc

            Fortenova Grupa d. d.

            Ad Hoc Committee of Seadrill Noteholders

            Ad Hoc Group of Creditors of Premier Oil Group

            VPI Holding Ltd (Subsidiary of Vitol)

            Coller Capital

            Work highlights

              Bristows LLP

              Bristows LLP is particularly strong in the technology and life sciences sector, with aptitude for the full range of domestic and international transactions. Practice head Miranda Cass has more than 30 years’ experience covering tax aspects of M&A, structuring, and employment. Senior associate Julia Cockroft has expertise in estate matters.

              Practice head(s):

              Miranda Cass

              Other key lawyers:

              Julia Cockroft

              Testimonials

              ‘Hugely user-friendly and hands-on.’

              ‘Miranda Cass offers practical and honest advice. Technically excellent and a wonderful person to boot!’

              Key clients

              Waterland Private Equity

              The Francis Crick Institute

              WPP plc

              AstraZeneca plc

              Diageo

              Blue Diamond

              NuCana PLC

              UCL Business

              Blue Diamond

              Baringa

              Stada

              Capgemini

              IXICO PLC

              OMass Therapeutics Ltd

              Motion Equity Partners

              AviadoBio Limited

              Sony Interactive Entertainment Europe

              Johnson & Johnson Innovation

              Adthena

              Deep Matter PLC

              Plan International

              PRI Association

              Abingdon Health

              Wild Bioscience Limited

              Frontier Economics

              Orca Computing Limited

              Work highlights

              • Advised on the acquisition of The Priory Group for over £1 billion and subsequent refinancing and education division reorganisation.
              • Advised Baringa on the sale of its climate change scenario model (CCSM) to leading asset management firm BlackRock.
              • Advised UCL Business, Cambridge Enterprise, Imperial Innovations and IP Group on the revision of the Apollo Therapeutics Partnership, a unique joint venture originally set up with three major pharmaceutical companies.

              Burges Salmon LLP

              Burges Salmon LLP advises on fund set up and investment, real estate transactions, and corporate restructurings. Practice head Ian Carnochan  is experienced on domestic and cross-border transactions. Hilary Barclay, who was promoted to partner in May 2022, has particular expertise in corporate and financing transactions.

              Practice head(s):

              Ian Carnochan

              Other key lawyers:

              Hilary Barclay; John Barnett

              Testimonials

              ‘Genuinely national, but with London/international capability.’

              ‘They have detailed understanding of the facts (especially on complex transactions) and an in-depth knowledge of the relevant law, which is enormously helpful. And they are always available and easily accessible for questions.’

              ‘I have been impressed with Hilary Barclay.’

              ‘Hilary Barclay is extremely impressive – keen attention to detail and never puts a foot wrong.’

              ‘Ian Carnochan is approachable, diligent and a great collaborator.’

              ‘Hilary Barclay is smart and switched on and a great addition to a strong team.’

              Work highlights

              • Acted for John Lewis on the purchase of a 1 million sq ft distribution centre at Fenny Lock in Milton Keynes.
              • Advised the Embark Group on its conditional sale to Lloyds Banking Group for £390m.
              • Advised Element Solutions Inc. on all aspects of its $60m acquisition of H.K. Wentworth Group.

              Dechert LLP

              Dechert LLP is active for funds, investments, and private equity, and benefits from a global network of offices to provide comprehensive multinational support. Practice head Mark Stapleton advises on UK and international tax matters, with particular experience in structuring and securitisation. Daniel Hawthorne covers M&A, financial services, and investment funds. Associate and chartered tax advisor Nicolas Kokkinos is also noted.

              Practice head(s):

              Mark Stapleton

              Other key lawyers:

              Daniel Hawthorne; Nicolas Kokkinos

              Testimonials

              ‘Dechert’s firmwide expertise with the asset management industry and fund structures was a plus when selecting tax experts for our particular needs.’

              ‘Mark Stapleton is a consummate professional with a wide network of tax experts in jurisdictions across the EU.’

              ‘Team has appropriate industry and sector experience. Also able to deal with practical commercial elements/challenges.’

              ‘Mark Stapleton is main contact for us in the corporate tax practice. Mark is always readily available and accessible. Additionally, he is able to direct us to specific tax subject matters experts as necessary.’

              ‘This team is exceptionally good at describing complex tax issues in an engaging and client friendly way. They deal with issues commercially.’

              ‘Mark Stapleton leads a broad team of tax specialists to give hands-on and applied advice. Stellar responsiveness and quality of thinking. Highly recommend.’

              ‘Mark Stapleton is a stand-out tax partner in the private funds space.’

              ‘Mark Stapleton and Dan Hawthorne are both technically gifted and very personable. They also believe in very quick response times, which is crucial in dealing with clients.’

              Key clients

              Hellenic Telecommunications Organization, S.A.

              Swiss Capital

              Work highlights

              • Advised Hellenic Tellecomunications Organization S.A. on the sale of its 54 percent stake in Romania’s fixed telecommunications operator, Telekom Romania, to Orange Romania.
              • Advising Swiss Capital on the set up of a Luxembourg fund platform for European institutional investors, and various new credit fund sub-funds.

              Mayer Brown International LLP

              Mayer Brown International LLP‘s team are experienced in M&A, securitisations, and the full range of private equity, real estate, and joint venture transactions. Team leader James Hill advises on a wide range of tax matters, including employment tax. Simon Rose and Matthew Mortimer are also key. Kitty Swanson made partner in January 2022.

              Practice head(s):

              James Hill

              Other key lawyers:

              Simon Rose; Matthew Mortimer; Kitty Swanson

              Testimonials

              ‘Experienced and engaged with excellent availability and always putting us as the client first. Overall they feel like a very safe pair of hands who I trust.’

              ‘I have worked on cross-border deals with James Hill and Kitty Swanson and they are knowledgeable, responsive, commercially minded and James in particular is an extremely calm presence during high-stress times. They also fill me with confidence in their ability to tackle any issue and they have good international reach.’

              ‘Deep understanding of what we are trying to achieve with our mandates. They are reactive, their advice is extremely technical but also delivered in a way that a lay person can interpret and act upon efficient.’

              ‘Kitty Swanson – exceptional technical knowledge.’

              Key clients

              British Land

              Round Hill Capital

              Entertainment One

              Beazley plc

              L Catterton

              Sotheby’s

              Shearwater Group

              Unilever

              CDK Global, Inc.

              Generali Real Estate

              Work highlights

              • Represented Hasbro Inc. and its subsidiary Entertainment One Ltd. as UK counsel in the sale of Entertainment One Music to private equity firm The Blackstone Group Inc.
              • Represented Pernod Ricard in its acquisition of The Whisky Exchange, a leading online and physical retailer of whisky and spirits.
              • Represented private equity firm AURELIUS in the acquisition of McKesson UK in a corporate carve-out from US healthcare company McKesson Corporation.

              Morgan, Lewis & Bockius UK LLP

              Morgan, Lewis & Bockius UK LLP‘s team works as part of the firm’s global practice to advise on multijurisdictional tax matters, particularly in the transactional sphere. The ‘technical and pragmatic’ Kate Habershon leads the practice, with experience on M&A, international structuring, and tax planning. Neil McKnight, who was promoted to partner in 2020, covers real estate. Associate Grace Tan is noted.

              Practice head(s):

              Kate Habershon

              Other key lawyers:

              Neil McKnight; Grace Tan

              Testimonials

              ‘The team is excellent and tackles all problems put their way.’

              ‘Kate Habershon is the rare mix of a technical and pragmatic tax lawyer.’

              ‘Knowledgeable in the PE industry.’

              ‘Responsive and experienced.’

              ‘Great team – good technical ability and client communication.’

              Key clients

              Selina

              Black Diamond Capital Management

              Regent

              AmerisourceBergen Corp

              23andme

              Work highlights

              • Representing Selina in its merger with BOA Acquisition Corp., a publicly traded special purpose acquisition company.
              • Represented Black Diamond Capital Management in its acquisition of a controlling stake in Polynt-Reichhold from Investindustrial.
              • Advising Dimanche LLC, an affiliate of Regent LP, in the acquisition of HanesBrands Inc.’s European innerwear business.

              Shearman & Sterling LLP

              Shearman & Sterling LLP advises on the tax aspects high value multinational transactions, with key experience in M&A, private equity, and real estate. Practice head Simon Letherman has expertise in structured finance and corporate restructurings, and works across a range of industries including energy, financial services, and technology. Counsel Michael Ward is also noted.

              Practice head(s):

              Simon Letherman

              Other key lawyers:

              Michael Ward

              Testimonials

              ‘A very dedicated team with broad experience in all matters of international tax law and also VAT.’

              ‘Simon Letherman and Michael Ward are both excellent technicians with a view of the clients particularities.’

              ‘Good attentive service, responsiveness, good commercial thinking.’

              Key clients

              General Electric

              Intercontinental Exchange

              Qatar Investment Authority

              Liberty Global

              Olayan

              Fenway Sports Group

              Fairfax Financial Holdings

              Anglo American

              Mubadala

              Abu Dhabi National Oil Company (ADNOC)

              Ardagh

              The DOW Chemical Company

              Marlin Equity Partners

              S&SC Technologies, Inc.

              Coca-Cola Europacific Partners

              Work highlights

              • Advised Chipita S.A. on its sale to Mondelez Nederland Services B.V., a wholly owned subsidiary of Mondelēz International, Inc. (Mondelez), for €1,705,000,000.
              • Advised the lenders on the project financing for a $12.5 billion world-scale integrated gasification and combined cycle energy project in the Kingdom of Saudi Arabia.
              • Advised the lenders in connection with the $652.3 million financing of the Central Termica de Temane power project in Mozambique.