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Firms To Watch: Corporate tax

Ed Denny heads up the recently formed London tax practice at Winston & Strawn LLP, which has an active presence in the private equity space, particularly transactions that involve US offshore investments into the UK and European healthcare, technology and renewables industries.

Corporate tax in London

Clifford Chance LLP

Clifford Chance LLP displays a high level of expertise in handling M&A, real estate, funds and finance-related tax matters. Clients describe Dan Neidle as 'approachable and fiercely intelligent'; he heads up the tax group in London and has a broad financial institution taxation and tax disputes practice. Global head of tax, pensions and employment Chris Davies focuses on the tax elements of corporate and financing transactions, while Nick Mace and David Harkness advise on all tax-related matters across the full spectrum of corporate deals. Another key figure, Anthony Stewart, specialises in all matters related to investment funds, including international fund structuring work, carried interest and co-investment schemes and asset management M&A.

Practice head(s):

Dan Neidle

Other key lawyers:

Chris Davies; Nick Mace; David Harkness; Anthony Stewart; David Saleh; Laura Underhill; Jemma Dick

Testimonials

The Clifford Chance team work collaboratively in order to provide exceptional service. We have relied on their expertise on a number of potential tax litigation matters and in all areas, they have provided great technical and practical advice. They provide all around technical expertise, litigation strategy and handling advice. I particularly appreciate the fact that I can rely on all members of the team and they are all up to speed with the issues so I am not reliant on one individual.’

Dan Neidle – by far the most approachable and technically able tax law partner I have worked with. Approachable and fiercely intelligent.’

The CC team make themselves available regardless of position in the business, from trainee to partner, and are happy to go the extra mile to explain matters, especially when the clients that are engaging CC are not UK institutions who don’t understand / have much dealings with UK tax legislation.’

Chris Davies is a whizz on securitisations – client friendly and good at explaining tax points to non-tax specialists.’

Key clients

Telefónica

Intact Financial Corporation

HSBC

Partners Group

ICG Strategic Equity

Intermediate Capital Group plc

MasterCard

Macquarie

Cellnex

Chrysaor Holdings Limited

Nova Resources B.V.

Nielsen Holdings

Nuveen

Jupiter

WEX Inc

Brit Ltd

Mitsui Fudosan

Work highlights

  • Advised Telefónica on the signing of its 50:50 joint venture with Liberty Global to combine their UK operations, O2 and Virgin Media.
  • Advised ICG Strategic Equity, as the lead investor, in CapVest’s GP-led secondary transaction in respect of Curium Pharma.
  • Advised a consortium comprising GEPIF (BlackRock’s energy and infrastructure fund), its co-investor Mubadala, and WSIP (the Goldman Sachs infrastructure platform) on its recommended cash offer for Calisen plc.

Slaughter and May

Slaughter and May provides a 'fantastic service' and showcases 'first-class technical capabilities' across the full breadth of international tax and tax issues relating to transactions. Mike Lane is the head of the tax practice and displays an 'impressive' level of expertise in the financial services industry, particularly in the capital markets space. Gareth Miles has a strong focus on M&A work and Dominic Robertson has a broad tax practice that covers transactional, advisory and disputes advice. Steve Edge is a well-recognised name in the corporate tax space, while William Watson is also noted and has a strong background in real estate and oil and gas work, as well as a growing pensions tax practice. At the junior end of the team, associates Charles Osborne and Sarah Osprey are key names to note.

Practice head(s):

Mike Lane

Other key lawyers:

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

Testimonials

The Corporate Tax practice provides outstanding deal support – the team is technically excellent and alive to all potential opportunities, and risks, whilst remaining pragmatic and commercial in its advice. Compared to other firms the team took greater ownership of the deal process, and managing liaison with commercial colleagues, which is a more efficient service model, particularly when working under time pressure.’

It was a pleasure to work with the Slaughters Tax team – William Watson and Charles Osborne stood out for us across several deals. In addition to their technical excellence, I particularly valued the following qualities: (i) they were alive to all deal issues and were constantly looking to add points of value; (ii) they communicated brilliantly and clearly noted areas where client time/review should focus; and (iii) they were great to work alongside and remained calm and collected under pressure.’

Responsive and produce work of a high-standard efficiently and swiftly.’

Sarah Osprey provides excellent corporate tax advice in a clear and concise manner and with a transparency that exceeds the service provision found elsewhere. Sarah’s depth of knowledge and ability to understand the business and market in which we operate is exceptional while their appreciation of the commercial reality of the deal as well as my risk appetite has proven to well exceed expectations.’

The team brings a strong commercial and practical approach to their work, as well as first class technical capabilities.’

They provide a fantastic service on M&A transactions.’

We have worked with Mike Lane and Charles Osborne – I would be happy to work with both again and would highly recommend them. Mike’s insight and knowledge of a very wide range of tax matters is very impressive.’

Key clients

Bupa

Canary Wharf

EF Education First AG

Ocado

PrimaryBid

Prudential

Royal Dutch Shell

Santander

Virgin

Vodafone

Work highlights

  • Advising Valaris on its $6.5bn restructuring.
  • Advised INEOS on the acquisition of BP’s global petrochemicals business for $5bn.
  • Advised Rolls-Royce on the tax aspects of a £5bn recapitalisation package including a rights issuance.

Allen & Overy LLP

Allen & Overy LLP‘s tax department is ‘solutions driven‘ and specialises in corporate, financial, and real estate tax work and advises clients on the tax aspects of M&A, capital markets, structured finance and real estate transactions. Vimal Tilakapala heads up the UK tax practice and advises clients on corporate tax issues with an emphasis on domestic and international finance-related tax. Senior partner and corporate tax specialist Lydia Challen has a broad practice that covers M&A, corporate reorganisations and private equity tax. Christopher Harrison leads the global tax practice has deep financial services expertise and advises clients on bank taxation and tax-related financing transactions. Clients praise the team for its ‘good-humoured, calm and measured‘ approach.

Practice head(s):

Vimal Tilakapala

Other key lawyers:

Lydia Challen; Christopher Harrison; James Burton; Tim Harrop; Gareth Banfield

Testimonials

Solutions driven and able to identify and focus on the key commercial points, they provide practical and efficient advice that is not overcomplicated.’

Highly intelligent and succinct. Good availability and always a pleasure to speak to.’

A solid awareness of all potential issues. Calm and measured. Responsive. Personable and good-humoured.’

Key clients

BNP Paribas

Quilter Plc

Royal Bank of Scotland

Société Générale

UBS A.G..

Coventry Building Society

Marks & Spencer

Worldpay

WPP

Baker McKenzie

Baker McKenzie's tax practice covers the full spectrum of tax work from advising on transactional tax, wealth management and alternative capital issues, to tax planning work, transfer pricing matters and VAT/indirect tax. Mark Delaney heads up the London tax practice and is a recognised VAT specialist; he has a broad range of sector expertise spanning across the technology, international trade, services and energy sectors. Managing partner Alex Chadwick focuses on international tax planning work and Kate Alexander, who has extensive tax expertise, is also a chartered accountant and a chartered tax adviser. Patrick O’Gara and Natalie Dunne both have a strong corporate and transactional tax practice; Dunne was promoted to partner in July 2020.

Practice head(s):

Mark Delaney

Other key lawyers:

Alex Chadwick; Richard Fletcher; Kate Alexander; James Smith; Mark Agnew; Patrick O’Gara; Natalie Dunne

Testimonials

Market-leading tax team with valuable insights on areas of challenge and exploration for multinational clients in the technology sector.’

James Smith is a tremendously knowledgeable, flexible and commercial adviser who is our go to specialist on most deals. He distils complex matters into easy to digest advice on a consistent basis.’

Highly engaged team and work well across disciplines and geographies.’

Very practical, relevant, commercial advice. Quick to give a clear opinions/advice.’

Patrick O’Gara – very experienced, really accessible, helpful, knowledgeable, practical advice, with clear opinions.’

Key clients

ALJ International

ATP Media

Blue Horizon

Body Shop

Brunswick Corporation

Commscope

Gemini Office Services UK

GlaxoSmithKline

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 Hitachi on its $11bn acquisition of ABB and subsequent carve-out of ABB’s power grid division.
  • Advised on the $3bn sale of MagicLab to Blackstone.
  • Advised on the $1.8bn sale of Peak Games by the founder shareholder and other investors to Zynga Inc.

Hogan Lovells International LLP

Hogan Lovells International LLP offers the full range of transfer pricing advice, including transfer pricing reports, tax efficient supply chain management, tax valuations, financial modelling, and transfer pricing compliance and disputes. The team advises clients in a range of sectors including the real estate, financial services, insurance and pharmaceuticals industries. Practice head Elliot Weston specialises in transactional tax issues and Fiona Bantock focuses on employee benefits and executive compensation tax. Karen Hughes is also noted and has a strong M&A, restructuring and international tax planning practice.

Practice head(s):

Elliot Weston

Other key lawyers:

Karen Hughes; Philip Harle; Aaron Burchell; Fiona Bantock

Testimonials

We turn to Hogan Lovells for almost all of our major tax advice. Partner-led, more creative, better service, and significantly better value-for-money.’

Elliot Weston has the ability, unique among tax advisers for big corporates, to present his advice in a digestible, user-friendly way. He does not equivocate and is frequently able to provide his 80% view on the fly, which is immensely valuable in many instances. He is smart, responsive, creative, and clear. I would not hesitate to recommend him and frequently do.’

The HL real estate tax team are exceptionally strong technically on UK tax matters and always come with well-considered conclusions. HL are clearly one of the leaders in RE Tax matters and provide good value, commercial advice.’

Elliot Weston leads the team very well, always listening closely to client needs and delivering appropriately. He is very well supported by Aaron Burchell and other senior members of the team. The team are well represented across the industry lobbying groups.’

Work highlights

  • Advised AmerisourceBergen Corporation on the tax elements of its $6.47bn acquisition of Alliance Healthcare’s wholesale distribution business in Europe.
  • Advising PerkinElmer, Inc. on the tax elements of its $591m cash takeover of NASDAQ listed Oxford Immunotec Global plc.
  • Advised Shaftesbury PLC, a UK REIT, on the tax elements of its £300m equity raising to help it withstand the impact of Covid-19 on its business.

Kirkland & Ellis International LLP

Kirkland & Ellis International LLP has a strong presence in the private equity space and advises debtors and creditors on the tax aspects of restructurings, setting up investment vehicles and fund formations. Jonathan Kandel focuses on providing tax advice regarding private equity, credit, real estate and infrastructure issues to a range of clients including asset managers, sovereign wealth funds and state-owned enterprises. Timothy Lowe co-heads the practice alongside Kandel and specialises in M&A tax, reorganisations, reconstructions and corporate finance work. Mavnick Nerwal, Ian Ferreira and Frixos Hatjantonas are also noted. Key changes in the team include the departure of Dulcie Daly in March 2021 and the arrival of 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

Testimonials

They are very well able to connect input from counsel in various jurisdictions and to translate this into structuring solutions taking into account all these multi-jurisdictional elements. They make you feel you are their only client, which is really extraordinary.’

Ian Ferreira – technically excellent, with an understanding of the particular issues faced within the PE industry.’

Key clients

Blackstone

TDR

Ares Management Limited

Oaktree

Canadian Pension Plan Investments Board

EQT

Goldman Sachs

Starwood

Waterland

GIC Equinix

ISQ

Montagu

GTCR

Brookfield

Norwegian Cruise Line

Technicolor

Allied Universal (porfolio company of Warburg Pincus)

Work highlights

  • Advised Blackstone on the £4.66bn acquisition of iQ Student Accommodation from Goldman Sachs and Welcome Trust.
  • Advised Ares Management Limited on the structuring and formation of its fifth European credit fund.
  • Advised GIC, Singapore’s sovereign wealth fund, on the over $1bn co-investment with Equinix in the form of a limited liability partnership to develop and operate xScale data centres in Japan.

Linklaters LLP

Linklaters LLP has a broad range of tax expertise in the areas of corporate, finance, private equity, funds and technology. Practice head Lynne Walkington is a corporate tax specialist with extensive experience in the financial sector, and advises clients on work ranging from public and private M&A transactions, to capital markets and real estate finance mandates. James Morgan has a broad practice with a particular focus on the taxation of financial institutions, debt funds and alternative credit funds. Sarah Lindley specialises in corporate tax and advises on a range of transactions, as well as displaying a strong interest in the technology sector.

Practice head(s):

Lynne Walkington

Other key lawyers:

James Morgan; Sarah Lindley

Testimonials

This team is very strong technically, have very good market insights and are very responsive. Additionally, we rely on them because their network in Europe and across the globe is very strong.’

Very approachable and nice people to work with.’

Key clients

Unilever

Lloyds Banking Group

Cerberus

Nestlé

Credit Suisse

PSP Investments

BP

Ontario Teacher’s Pension Plan

CK Hutchinson

Just Eat

Work highlights

  • Advised Investec on the demerger and listing of its asset management business (now Ninety One).
  • Acted for BP International Limited, a multinational oil and gas company, on the sale of its global aromatics and acetyls petrochemicals business to INEOS for a total consideration of $5bn.
  • Advised Citibank NA on a matter that involved the securitisation of £1.7bn legacy Northern Rock plc mortgages that had been purchased into a warehouse company in 2019. Advice related to the structuring of the securitisation and providing tax advice on the transaction.

Macfarlanes LLP

Macfarlanes LLP has a strong client offering that covers transaction structuring, fund formation and group tax advice, dispute resolution and operational tax work. Damien Crossley heads up the practice and is praised for his 'unrivalled' knowledge of the private equity and investment management space. Mark Baldwin has a broad corporate tax practice and focuses on the structuring of collective investment vehicles, and Ashley Greenbank showcases expertise in cross-border finance and M&A transactions. The team also has significant experience advising funds; James McCredie and Ceinwen Rees are key names to note. Jeremy Moncrieff focuses on M&A in the asset management and wealth management space. Key changes to the team include the departure of Peter Abbott in 2021.

Practice head(s):

Damien Crossley

Other key lawyers:

Ashley Greenbank; Mark Baldwin; James McCredie; Jeremy Moncrieff; Ceinwen Rees

Testimonials

Damien Crossley is exceptional at providing clear and commercial advice. He is different from competitors due to his willingness to ‘get off the fence’ and his unwillingness to over-complicate matters unduly. His knowledge of the investment management sector (not just private equity) is also close to unrivalled.’

We have found the team to be very thoughtful and commercial. They give clear advice and back it up well.’

Jeremy Moncrieff is very good. He is not afraid to stick his neck out and give an opinion, which is always well reasoned and carefully explained. He is also very responsive and always makes time to help.’

Key clients

Alcentra

Alchemy

Blackstone

Bridgepoint Advisers Limited

Cross Ocean

GHO Capital

Hayfin Capital Management

Legal and General

Omnicom

Partners Group

Patron Capital

Realstar

Smith & Williamson

Virgin

Warwick Capital

Work highlights

  • Advised Blackstone on all aspects of pre-transaction and deal structuring issues and financing and employee share incentives.
  • Advising Hayfin, one of Europe’s leading alternative asset management firms, on house tax matters and fundraisings.
  • Advised Canadian real estate investment company Realstar, on the sale of a £750m portfolio of eight build-to-rent and student accommodation properties to QuadReal Property Group.

Travers Smith LLP

Travers Smith LLP displays expertise in a wide range of areas spanning asset management and investment funds, private equity, corporate finance, M&A, real estate and employee incentives work. Practice head Emily Clark is 'clear and concise' and advises on all aspects of fund formations across a broad range of alternative asset classes. Cathryn Vanderspar heads up the real estate tax team and specialises in direct and indirect real estate and funds taxation. Another noteworthy individual is Jessica Kemp who has a broad M&A-related taxation practice. Kathleen Russ and Simon Skinner are other key names to note.

Practice head(s):

Emily Clark

Other key lawyers:

Kathleen Russ; Simon Skinner; Russell Warren; Cathryn Vanderspar; Madeline Gowlett; Jessica Kemp

Testimonials

The Travers Smith Corporate Practice has strength in depth, excellent technical knowledge and is keen to fulfil their client’s requirements.’

Their technical knowledge, willingness to assist and their understanding of the commercial rational for solutions.’

The key thing that really sets the Travers team apart is that they approach the delivery of their advice as if they are a part of the in-house team. They don’t seek to hide behind caveats and where items are complex or uncertain they bring the item to the attention of the tax team early.’

Emily Clark is extremely thoughtful about both technical matters and client service matters. Emily leads from the front with calm, clear and concise delivery on technical and challenging commercial points and real care from a client service perspective.’

Key clients

Medicxi

Elysian Capital LLP

Benson Elliot Capital Management LLP

TA Associates (UK) LLP

The Carlyle Group

UK Investment Partners Limited

Triangle Capital L.P.

Inmarsat

Looping Group

Livingbridge

A-Plan Group Ltd

Work highlights

  • Advised Medicxi, the leading European life sciences investment company, on a ground-breaking €200m structured secondary transaction, which is unprecedented in the biotechnology industry.
  • Advised the partners of Benson Elliot, a leading UK-based private equity real estate fund manager, on the sale of Benson Elliot to PineBridge, a private global asset manager.
  • Advised TA Associates and management on its strategic reinvestment in The Access Group alongside existing co-investor Hg.

Ashurst

Ashurst has a broad client offering that covers domestic and international tax frameworks and advises on a range of direct and indirect tax implications, ranging from corporation tax to VAT and stamp duty land tax issues. Practice head Alexander Cox has considerable experience of private equity, mezzanine and real estate funds, while Simon Swann has extensive expertise in corporate tax issues, with a strong focus on real estate tax. Other key names include Paul Miller, who is 'very knowledgeable' of the financial services sector; and Nicholas Gardner, who has expertise in the energy, transport, infrastructure and real estate sectors. Corporate tax partner Tim Gummer is also recommended.

Practice head(s):

Alexander Cox

Other key lawyers:

Simon Swann; Nicholas Gardner; Paul Miller; Tim Gummer

Testimonials

They respond very quickly and they are very knowledgeable in the subject matter that we have hired them for. Most of the answers or opinions are fairly comprehensive and with high level of certainty.’

The team is pragmatic and pro-active in their approach and focused on getting the right answer for their client.’

Simon Swann is a go to person for advice on real estate tax issues. He carefully explains his advice, with its rationale and advantages and highlights potential pitfalls. His support team are good at taking forward the advice.’

Alex Cox is an all round adviser, his tax advice is clear and precise.’

Paul Miller is the tax partner that we generally work with. He is very knowledgeable and very responsive to our questions.’

Key clients

Thomas Cook – Alix Partners

AVEVA

BP

McLaren

La Francaise

Vestas Investment Management / Savills Investment Management

Hines

Carluccio’s

Arax Properties and Eurazeo

British Business Bank

FCC

Tritax

Inflexion Private Equity

Korean Investment & Securities, IGIS and Knight Frank Asset Management

Samsung Securities, Kendall Square Asset Management and Roebuck Asset Management

Hana Financial, STIC Alternative and Roebuck Asset Management

Intermediate Capital Group PLC

JPI Media Limited

Lendlease

Berkeley Homes

Agilitas

QinetiQ PLC

Work highlights

  • Acted for the Eurazeo group and Arax Properties on a transaction structuring through onshore and offshore vehicles including different phases of the implementation of the structuring arrangements to address the timetable for the transaction.
  • Advised the McLaren Group on the tax aspects of a mixture of debt and equity financing of McLaren Racing Limited, comprising 12% secured loan notes and the grant of warrant shares.
  • Acted for HM Treasury on the £500m Future Fund which was announced by the Chancellor of the Exchequer on 20 April 2020.

Bryan Cave Leighton Paisner LLP

Bryan Cave Leighton Paisner LLP has a full-service global tax department with a broad client offering in the areas of corporate, commercial, real estate and finance taxation. Elizabeth Bradley is the global head of tax and displays a broad range of expertise, particularly in finance, corporate M&A, funds and real estate tax. Alan Sinyor heads up the VAT practice and Mark Brailsford is a corporate tax specialist. Other key names include Richard Harbot and Matthew Poole, who both have strong real estate tax practices, as well as Paul Shaw, who focuses on investment funds work. Key changes to the team includes John Overs' retirement in March 2020.

Practice head(s):

Elizabeth Bradley

Other key lawyers:

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

Testimonials

I have known a number of the lawyers at BCLP for many years, so I rate them highly in a number of different categories. For our real estate practice, particularly on acquisitions, they are fast and efficient, highly dependable in their due diligence, and commercial in negotiations with other firms.’

Key clients

HGR Liquidating Trust (formerly Hines Global REIT)

Harwell Oxford Partners Limited

Union Investment Real Estate GmbH

Land Securities Group plc

Transport for London

Investec Property Fund Offshore Investments (Pty) Limited

Carlyle Group

CMS

CMS has a wide range of expertise in tax with particular strength in issues relating to REITs; the firm has a specialised REITs and structured transactions team. The team also advises on VAT, transfer pricing, tax structuring and employee incentives issues across a variety of sectors ranging from the life sciences and healthcare sector, to the energy and infrastructure industries. Stephen Hignett and Aaron Fairhurst jointly lead the practice. TMT expert Mark Joscelyne and Lauren Alder are also noted; clients praise Alder for her 'deep technical expertise' and 'proactive' approach. REIT specialist Phil Nicklin joined the team in May 2020 from Deloitte Legal.

Practice head(s):

Stephen Hignett; Aaron Fairhurst

Other key lawyers:

Graham Chase; Mark Joscelyne; Lauren Alder; Phil Anderson; Anna Burchner; Jason Todd; Phil Nicklin

Testimonials

The CMS tax team are smart with real strength in depth and great sector knowledge.’

Lauren Alder – proactive and responsive, with deep technical expertise.’

Phil Anderson – he is committed, technically strong and enthusiastic.’

Excellent real estate team – best in class. Lauren Alder is a particular star and always a pleasure to work with.’

Excellent depth of team and awareness on UK tax matters. The client service is very strong and partner led. CMS have strengthened with the hire of Phil Nicklin and have a clear market visibility with their participation across all relevant industry lobbying groups and demonstrate thought leadership.’

I deal with Aaron Fairhurst and Jason Todd. They are very knowledgeable with the energy industry and the M&A deals we have completed with them. They are also extremely approachable which enables pragmatic tax discussions which help in getting deals done.’

Key clients

British Land

RWE

SSE plc

Sporting Group

RWS plc

Cox Automotive

All3Media

Delancey

Warner Music

Anzo Group

Work highlights

  • Advised British Land on structuring a joint venture between British Land and Allianz over a £535m portfolio of British Land’s West End offices.
  • Advised CityFibre, the UK’s leading alternative provider of wholesale fibre network infrastructure, on its £200m acquisition of FibreNation from TalkTalk Group Plc.
  • Advised RWE, one of the world’s leading renewable energy companies, on its disposal of a 49% stake in the Humber Gateway offshore wind farm to Greencoat, a UK-based investment company focusing on renewables projects.

Dentons

Dentons has an experienced tax risk and warranty and indemnity practice with a broad global client base. The team is led by Alex Thomas, who leads the UK tax practice and co-heads the global tax practice. James Meakin advises on the tax aspects of corporate and real estate transactions, including M&A, group reorganisations and joint ventures. Alex Tostevin's 'technical capabilities' are singled out by clients, as is his strong background in private equity work.

Practice head(s):

Alex Thomas

Other key lawyers:

James Meakin; Alex Tostevin; Alastair MacLeod

Testimonials

I admire Alex Tostevin’s technical capabilities greatly and enjoy collaborating with him and his team.’

The level of service provided by Dentons is outstanding. The team’s professional approach, industry exposure and capabilities make them unique.’

Throughout our relationship with Dentons, the entire team is always well prepared and will always carefully listen to our queries. The team’s expertise allows them to deliver the perfect analysis and solutions to our problems.’

The individuals we work with have always provided us with the highest quality of service and their effort is highly valued and appreciated. Whenever we have a strict timeline, the team are prepared to go the extra mile to accomplish all the tasks.’

Key clients

KKR

Atom Bank

Lloyds

Virgin

Visa

KPS Capital Partners

Her Majesty’s Government

John Lewis

Swiss Life

Barclays

Work highlights

  • Advised Royal Mail Group on its new long-term commercial agreement with Post Office Limited.
  • Advised Barings on the jurisdictional switch of eight of its CLOs from The Netherlands to Ireland by replacing the Dutch issuer SPV with an Irish SPV.
  • Advised Allied Cigar Corporation and Gemstone Investment Holdings on the acquisition of Imperial Brands PLC’s premium hand-rolled cigar business.

Gibson, Dunn & Crutcher

Gibson, Dunn & Crutcher's tax department is 'very knowledgeable' and has a broad client base encompassing multinational corporations, publicly traded and private companies, investment funds (including REITs) and more. Sandy Bhogal co-heads the global tax team and has a well-established presence in the tax space, advising on a range of corporate and transactional tax issues, corporate tax planning work and transfer pricing matters. Ben Fryer has a broad practice and advises on tax-related issues regarding banking, capital markets, corporate finance, corporate reorganisation and debt restructuring work. Jeff Trinklein is also noted and has a strong international tax practice.

Practice head(s):

Sandy Bhogal

Other key lawyers:

Ben Fryer; Jeff Trinklein

Testimonials

Collaboration among fellow lawyers and other advisers on deals is top notch. I expect great, timely advice and they deliver.’

Sandy Bhogal works all day long. Not sure when he sleeps. He’s very knowledgeable about his craft and explains things in a way that’s easy to understand.’

Their contribution to our work demonstrates a broad commitment to the sector as a whole. In this work, they also show their knowledge of tax law in the UK and elsewhere, the practices and structures of financial services businesses (and the demands of the relationship with their customers) and the mechanisms of government and regulatory bodies.’

Extremely knowledgeable with broad experience which informs their recommendations.’

Key clients

Realty Income Corporation

Cale Street Investments LP

Tishman Speyer Properties

Centerbridge Partners, L.P.

Brookfield Property Partners

Groupe Sofidy

Apollo Global Management

Liberty Hall Capital Partners LP

Welltower Inc.

Goldman Sachs

Norton Rose Fulbright

Norton Rose Fulbright has a sizeable tax practice with ‘deep technical expertise‘, advising clients on international M&A transactions, refinancings and restructurings. Practice head Dominic Stuttaford specialises in M&A transactions and corporate reorganisations, with a particular emphasis on the insurance, banking and technology sectors. Matthew Hodkin displays sector expertise in the transport and renewable energy sectors, and clients praise Michael Alliston for being ‘technically brilliant‘ with a broad transactional tax and cross-border M&A practice. Another key name to note is Julia Lloyd, who is singled out as ‘a star‘ for all matters concerning property, fund and real estate tax.

Practice head(s):

Dominic Stuttaford

Other key lawyers:

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

Testimonials

Julia Lloyd is a star. She is very commercial and practical. Her advice is clear and relevant. She gives solutions not problems.’

They are very knowledgeable with the energy industry and M&A deals, together with being very approachable. We are able to have pragmatic discussions which help in getting deals done.’

The team is able to draw on a wide range of deep technical expertise to deal with a varied range of questions and issues.’

Michael Alliston is technically brilliant and can perform thorough research and analysis at speed.’

Key clients

EasyJet

Lloyds Banking Group

Barclays Bank Plc

Orange SA

Royal Bank of Scotland PLC

Goldman Sachs

HSBC

Roofoods Ltd (Deliveroo).

AXA XL

Schroder Real Estate Investment Management Limited

Louis Dreyfus

Total

Civitas Social Housing PLC

Morgan Stanley

Residential Secure Income REIT Group

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.

Glennmont Partners

Greencoat UK Wind

Work highlights

  • Advised Total Renewables on tax aspects of the acquisition from SSE Renewables of a majority stake in the Seagreen 1 offshore wind farm project.
  • Advised Carlsberg on its deal with Marston’s plc to form a new joint venture beer company in the UK, Carlsberg Marston’s Brewing Company (CMBC).
  • Advising a joint venture of institutional investors on the £1bn redevelopment of Olympia London, a 130-year-old exhibition and events business.

Pinsent Masons LLP

Pinsent Masons LLP's corporate tax team is praised for being 'down to earth' and for delivering 'pragmatic advice'.  Key areas of work for the team involve private equity issues, cross-border reorganisations, asset-backed securitisations and VAT structuring matters. Practice head Eloise Walker has extensive experience handling transactional and international tax issues, while legal director Penny Simmons focuses on assisting clients with corporate tax risk management work and 'knows the subject matter better than almost anyone'. Legal director Hatice Ismail, who joined in September 2020 from Simmons & Simmons, and senior associate Jamie Robson are also noted.

Practice head(s):

Eloise Walker

Other key lawyers:

Penny Simmons; Hatice Ismail; Jamie Robson

Testimonials

Down to earth and practical can-do attitude, a great deal of relevant knowledge and experience.’

Penny Simmons is a very knowledgeable, approachable and easy to instruct lawyer. Not only does she know the subject matter better than almost anyone, she explains technical advice in very accessible ways – making the onward explanation of complex legal information to commercial colleagues a lot simpler and faster.’

A ‘go-to’ team, with pragmatic advice. Great collaboration across all areas of taxation.’

Key clients

Dalmore Capital

Investec Bank plc

AMC Entertainment

Lloyds

Kier

HSBC

Huntsworth Group

Latimer Developments Limited (development arm of Clarion Housing Group)

Teva

RPMI Railpen

Work highlights

  • Advised AMC on its disposal of nine cinema businesses in the Baltic region (Latvia, Lithuania, and Estonia) to Up Invest.
  • Acted for Zurich, the global insurance provider, on the completion of the sale of its UK Retail Wealth business to Embark Group.
  • Acted for 4D Pharma Plc on the tax structuring of its acquisition of Longevity Acquisition Corporation, a Special Purpose Acquisition Company listed on NASDAQ, and on the structuring of its listing of American Depositary Shares on NASDAQ and de-listing of shares on AIM.

Simmons & Simmons

Simmons & Simmons has a broad transactional tax and advisory practice covering corporation tax, employment tax, VAT and transfer pricing issues. The team has particular expertise in the financial services, asset management and TMT sectors. Darren Oswick leads the London and international tax groups, and Nick Cronkshaw specialises in advising on the tax aspects of M&A and equity capital markets transactions. Martin Shah is also praised as 'extremely commercial' with a strong background in the financial services sector. Changes in the team include the departure of Hatice Ismail.

Practice head(s):

Darren Oswick

Other key lawyers:

Nick Cronkshaw; Martin Shah; Mark Sheiham; Jo Crookshank

Testimonials

Excellent response rate and deep knowledge of all corporate tax related matters.’

Martin Shah is the best overall tax adviser I have worked with in my career, including law firms and Big 4. He is incredibly well rounded, extremely commercial and has an in depth knowledge of our business, which has the impact of feeling as if we have an in-house tax counsel.’

Key clients

Liontrust Asset Management PLC

Deka Immobilien Investment GmbH

Future Plc

APG

Pinebridge

Work highlights

  • Advised a number of clients in the asset management sector on tax issues relating to significant M&A transactions undertaken during 2020.

Simpson Thacher & Bartlett LLP

Simpson Thacher & Bartlett LLP has an 'innovative, diligent and user friendly' tax team that consists of English and US-qualified lawyers. The team assists clients with transactions, fund formations, tax planning matters, tax litigation and HMRC enquiries. Practice head Yash Rupal is a 'stand-out adviser' with 'excellent technical ability' across a broad range of tax work, including cross-border M&A, tax planning issues and tax disputes. Rupal joined the firm in February 2020 from Linklaters LLP.

Practice head(s):

Yash Rupal

Other key lawyers:

Mark Kingstone

Testimonials

Yash Rupal and Mark Kingstone bring a depth of knowledge and experience which few City legal firms could boast. Both know my business intimately and show incredible commitment to supporting me as the client. The quality of the advice and the speed of response are part of why I have instructed STB on very high profile tax work.’

We have found the team to be innovative, diligent and user friendly. Other firms may be user friendly or technically sound. Very few manage both but this practice manages both and turns it round in a timely fashion.’

Yash Rupal is the stand out adviser. He is highly technically competent and creatively structures solutions for the commercial requirements. His advice is accessible and given in a friendly manner. Few of his competitors combine technical excellence with creative, constructive advice.’

Yash Rupal possesses excellent technical ability and brings clarity to highly complex matters. He has an impressive ability to communicate and explain his views very simply and persuasively.’

Key clients

KKR

Apax Partners

Cinven

Aptiv Plc

Hoover Group, Inc.

Lloyds Banking Group Plc

Aston Martin

Blackstone

Petrofac plc

Rio Tinto plc

Work highlights

  • Advised KKR on its acquisition of 60% of Coty Inc.’s professional beauty and retail haircare businesses and other investments in Coty for an aggregate $5.3bn.
  • Advised H.I.G. on the acquisition of KPMG’s UK restructuring business.
  • Advised Blackstone on its agreement to acquire Bourne Leisure, a premier U.K. holiday company, which operates the Haven, Butlin’s and Warner leisure hotel brands.

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

Skadden, Arps, Slate, Meagher & Flom (UK) LLP has an 'exceptional' tax team with a strong domestic and cross-border tax offering that covers M&A and private capital transactions, as well as tax issues in relation to real estate and private client work. The team has a strong SPAC practice, and showcases 'outstanding technical abilities' and 'commercial understanding'. Practice head James Anderson advises on the tax aspects of private capital transactions and Alex Jupp has extensive experience in handling cross-border tax issues. Counsel Jisun Choi advises a range of multinationals, private equity funds and financial institutions. Associates Joseph Hone and Elizabeth Spencer are also noted.

Practice head(s):

James Anderson

Other key lawyers:

Alex Jupp; Jisun Choi; Joseph Hone; Elizabeth Spencer

Testimonials

Strongest corporate tax practice in the SPAC sector, able to assess an issue from all potential angles and with a strong pool of experience.’

Partners has a very strong knowledge of current tax issues and is very strong in anticipating problems, thus thinking them through before they arise. Always available, always ready to think out of the box, strong bench (proactive and competent associates). I highly recommend James Anderson and Joseph Hone!!

The most responsive and proactive of advisers. Good quality advice is a given among top firms but the speed of response and ability to think of and answer questions that should have been asked, sets Skadden apart. My company operates in both the US and the UK and the service from one jurisdiction to another is pretty seamless.’

Exceptional team well organised and able to deliver to a very high standard in a complex and time constrained environment. Outstanding technical abilities as well as relevant commercial understanding.’

Key clients

TDR Capital

Neuberger Berman Group

Noble Corporation

Perella Weinberg Partners

Electronic Arts Inc.

Kismet Acquisition One

SDCL EDGE Acquisition Corporation

Willis Towers Watson plc

DuPont

Zayo Group Holdings, Inc.

Apollo Global Management, Inc.

Levere Holdings Corp

NCR

Arrow Global Group plc

RMG Acquisition Corporation II

CME Group

The Coca-Cola Company

Work highlights

  • Advised TDR Capital on the tax aspects of the £6.8bn acquisition of a majority stake in Asda from Walmart.
  • Advising Neuberger Berman Group LLC on the business combination, reported at $12.5bn, of Owl Rock Capital Group and the Dyal Capital Partners division of Neuberger Berman to form Blue Owl Capital.
  • Advising Noble Corporation plc, a UK-based leading offshore drilling contractor, on the tax aspects of its comprehensive financial restructuring.

Addleshaw Goddard

Addleshaw Goddard advises clients across a range of sectors including the financial services, real estate and private equity industries. The practice is led by tax structuring expert Justine Delroy, who is based in the Manchester office. Peter Sayer focuses his practice on real estate tax mandates, including corporate real estate, development and fund work. Paul Concannon specialises in advising on corporate acquisitions, disposals and restructurings, as well as private equity investments and exits.

Practice head(s):

Justine Delroy

Other key lawyers:

Peter Sayer; Paul Concannon

Testimonials

‘Always helpful and pragmatic in dealings with us. Clear succinct email advice with helpful recommendations. A good understanding of our business and advice clearly tailored to our specific circumstances and need. Good awareness of changes in legislation and HMRC guidance/treatments.’

Paul Concannon is always helpful, explains clearly, highlighting potential issues and suggesting what we should do.’

Key clients

Metro Bank

Dandara

Inflexion Private Equity Partners

Singapore Press Holdings

Ted Baker

KAMCO

HUB

Pension Insurance Corporation

Shawbrook Bank

Mobeus VCT Funds

Work highlights

  • Advised Metro Bank on the sale of a portfolio of residential mortgages to NatWest as part of Metro’s ongoing balance sheet optimisation strategy.
  • Advised Dandara, one of the UK’s leading privately-owned housebuilders, on its disposal of more than 2000 residential units in Birmingham, Leeds and Manchester to the German investor ECE by means of a corporate exit.
  • Assisted Inflexion Private Equity Partners with a minority investment in and acquisition of Phenna Group Holdings Limited.

Debevoise & Plimpton LLP

Debevoise & Plimpton LLP has an 'excellent' tax practice and advises clients on the tax aspects of fund formation, M&A, finance and capital markets transactions. Co-managing partner Richard Ward is an 'outstanding tax lawyer' with 'deep knowledge' and expertise in the taxation of funds and private equity transactions. Matthew Saronson and Cécile Beurrier advise clients on a range of tax-related issues concerning private equity funds. International counsel Jennifer Wheater joined in March 2020 and offers 'amazing insight' into the area of fund taxation.

Practice head(s):

Richard Ward; Matthew Saronson

Other key lawyers:

Cécile Beurrier; Jennifer Wheater

Testimonials

The team has excellent market knowledge and current market practice to ensure their clients are kept at the leading edge. Partners are always responsive to new requests and deliver in a timely manner.’

Matthew Saronson is the main partner we deal with and has a far-ranging knowledge of US tax together with Richard Ward.’

Very strong overall tax advice. Commercially relevant and to the point. They understand our needs well, and have made an effort to understand key issues affecting our business. They are flexible and have a deep bench, and are very responsive.’

Debevoise has an excellent UK tax practice, particularly in the areas of fund formation and private equity deals. They concentrate on what they do best.’

Richard Ward is an outstanding tax lawyer. He his highly experienced and has a deep knowledge of the tax aspects of funds and PE deals. Jenny Wheater is truly remarkable. She has an amazing insight into the latest developments in HMRC thinking and the latest structures available. Jenny and Richard are a real pleasure to deal with.’

Key clients

Clayton Dubilier & Rice

Intermediate Capital Group plc

HarbourVest Partners

Metric Capital Partners LLP

Fifth Wall Capital Partners LLP

Park Square Capital LLP

Allianz Capital Partners

Work highlights

  • Advised HarbourVest, Goldman Sachs and AlpInvest on a GP-led restructuring involving the transfer of PAI Partners Fund V’s two remaining assets, a global ice cream company and an Italian eyewear manufacturer, to a newly-established fund managed by PAI Partners.
  • Advising ICG on the tax aspects of structuring the new secondaries fund.
  • Advised Metric Capital Partners on the structuring and implementation of its third and fourth funds.

Eversheds Sutherland (International) LLP

Eversheds Sutherland (International) LLP fields a 'very responsive, high-quality' tax team with particular expertise in investment fund taxation. Other areas of focus include cross-border M&A, real estate investment structurings, tax risk insurance work and financial tax matters. Practice head Ben Jones and principal associate Helen Mackey are singled out as 'outstanding practitioners'; Jones focuses on cross-border M&A, investments and reorganisations. Camilla Spielman is a fund tax specialist and Paul Beausang is an expert in real estate tax and structured finance mandates.

Practice head(s):

Ben Jones

Other key lawyers:

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

Testimonials

A very responsive, high-quality, team who understand their clients’ needs and customise their product accordingly.’

Ben Jones and Helen Mackey are truly outstanding tax practitioners. They seamlessly blend technical excellence with commercial and practical advice, providing critical support to our business. They are also responsive and go above and beyond to ensure they deliver timely advice in user-friendly format.’

Ben Jones makes time for his clients and has a great grasp of detail and always responds promptly. Helen Mackay is technically strong and gets things done.’

Key clients

Euclid

Siemens AG

The Royal London Mutual Insurance Society Limited

ING Bank NV

McCain Foods

ECE

Sonnedix UK Services Limited

Perpetual (Asia) Limited

Legal and General Assurance (Pensions Management) Limited

Owens & Minor Inc.

SEGRO plc

Audley Group Limited

Fried, Frank, Harris, Shriver & Jacobson LLP

Fried, Frank, Harris, Shriver & Jacobson LLP has 'strong experience' in advising on the tax aspects of private investment funds and corporate transactions, handling a variety of matters from mergers, acquisitions and dispositions, through to spin-offs and joint ventures. Nick Thornton heads up the practice and has a notable cross-border tax practice with significant experience advising clients on the tax aspects of fund formations, financings, M&A transactions.

Practice head(s):

Nick Thornton

Other key lawyers:

Thomas Bramall

Testimonials

Strong experience and excellent client empathy in fund formation work.’

FF very much works with an integrated fund/reg and tax team and provides tailored advice, tax solutions that work from a regulatory perspective and vice versa.’

Nick Thornton – extremely sharp and pragmatic and a fun person.’

Nick Thornton is a very skilled lawyer and knows what is going on in the market.’

Key clients

Permira

Bank of America Securities

BlueBay Asset Management

HSBC Global Asset Management (UK)

Bain Capital LLC

BlackRock

Goldman Sachs

Domino’s Pizza Group plc

Jacobs Engineering Group

Madison International Realty

HPS Investment Partners

Work highlights

  • Advised Jacobs Engineering Group on the deal structure and transaction documentation of its acquisition of PA Consulting Group.
  • Advised Alteri Partners on the sale of certain assets acquired by Alteri under the Bensons for Beds prepack in June 2020.
  • Advised AEA Investors LP in connection with its acquisition of Process Sensing Technologies.

Herbert Smith Freehills LLP

Herbert Smith Freehills LLP's tax department has a broad client offering that covers listed fund, real estate, strategic and legislative tax advice; energy tax work is another particular area of expertise. Isaac Zailer heads up the practice and has an international and domestic practice that covers both transactional and contentious tax issues. Howard Murray has extensive experience in general tax work and William Arrenberg specialises in real estate taxation. Other key individuals include Aurell Taussig, who focuses on investment fund taxes, and Casey Dalton, who was promoted to the partnership in May 2020 and is praised for her 'amazing breadth of tax knowledge'.

Practice head(s):

Isaac Zailer

Other key lawyers:

Howard Murray; William Arrenberg; Aurell Taussig; Nick Clayton; Casey Dalton

Testimonials

Aurell Taussig was knowledgeable, approachable, available and engaged in our assignment.’

They have always operated at a highly technical level but with sufficient levels of communication and pragmatism (and patience!) to allow the client to be fully across the detail. They have great engagement such that I have never had to chase a response and, where the deal allows, been very proactive in setting and meeting expectations.’

The team has detailed knowledge around technical issues but also provides a strong commercial overlay in giving advice.’

Casey Dalton is incredibly clear in her verbal and written analysis to help us progress M&A deals. She has an amazing breadth of tax knowledge which is needed on the deals we do. The thing I value the most is that she is always on time and accurate and willing to give a balanced view on issues allowing us to make an informed decision on what we want to do. I feel like she is part of the team rather than someone who is simply working for us when we work together. A true collaboration.’

Key clients

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

BHP Group Limited

Big Society Capital Limited

BioPharma Credit Plc

Blackrock

Blue Motor Finance Limited

BP

Bridgestone Corporation

British American Tobacco PLC

Brookfield Property Partners LP

Brookgate Land Limited

Cabot Square Capital

CalEnergy

Canada Life

Canary Wharf Group Plc

Capital & Counties Properties Plc

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

Goldman Sachs International

Hammerson Plc

Hermes Fund Managers Limited

Hipgnosis Songs Fund Limited

Iluka Res

Work highlights

  • Advised Copenhagen-based Scandinavian insurance company Tryg A/S, as part of a consortium with Intact Financial Corporation on the £7.2bn bid for Royal Sun Alliance.
  • Advising Bharti and its consortium with the UK Government (through the Secretary of State for Business, Energy and Industrial Strategy), on the $1bn acquisition of OneWeb in connection with its US court-supervised Chapter 11 sale process.
  • Advised Hammerson Plc in relation to its £550m rights issuance and €300m disposal of its interests in VIA Outlets.

Latham & Watkins

Latham & Watkins's tax team advises on the full range of corporate matters including M&A, private equity and capital markets transactions; the team also demonstrates particular expertise in handling cross-border tax issues. Sean Finn heads up the London tax team, which includes Karl Mah, who is a key contact and has significant experience in advising on high-profile M&A and private equity transactions. Sarah Gadd is also noted and focuses on employment tax and share incentives matters.

Practice head(s):

Sean Finn; Karl Mah

Other key lawyers:

Sarah Gadd

Testimonials

Responsive and great breadth of services covered.’

Sean Finn – responsive, clear understanding of rules in a variety of tax matters. Able to work on private equity, infrastructure transactions as well as various non-corporate tax matters.’

Key clients

Global Infrastructure Partners

Issa Brothers

TPG Capital Limited

One Equity Partners

HIG Capital

Caesars Entertainment

Allied Universal Security Services

Funding Circle

Eleusis Holdings Limited

Cerner Corporation

Barings

Carlyle

Platinum Equity

Blackrock

Microsoft

GlaxoSmithKline

Work highlights

  • Advised Global Infrastructure Partners with regard to the $20.7bn bridge financing in connection with a minority investment in ADNOC Gas Pipeline Assets LLC, an owner of gas pipelines.
  • Advised a consortium comprising TPG, SingLife, Sumitomo Life Insurance Company, and others on a S$2.7bn transaction to combine SingLife with Aviva Singapore.
  • Advised NVIDIA on its $40bn acquisition of Arm Limited, a UK-based semiconductor and software design company.

Mishcon de Reya LLP

Mishcon de Reya LLP is 'very strong on real estate tax' and advises major funds and businesses investing in the UK property sector. The real estate tax offering is led by Jonathan Legg, who is praised as an 'excellent technical lawyer'. A key focus for the practice is advising fast growing, start-up companies as well as assisting clients with fundraisings and exits, and handling investment planning issues for entrepreneurs. Other areas of expertise include mandates in the betting and gaming sector and the recruitment space. John Skoulding leads the corporate tax team, which includes Gary Richards.

Practice head(s):

John Skoulding; Jonathan Legg

Other key lawyers:

Gary Richards; Isabella Adams; Sarah Hein

Testimonials

Very strong on real estate tax.’

Jonathan Legg – excellent technical lawyer.’

Speed of response and an ability to make common sense of tricky and ever changing tax rules.’

Jonathan Legg is reliably good and nice to work with and has a good and growing team.’

Key clients

Calastone Limited

Advanced Business Software and Solutions Limited

Seraphine

LaunchPad

Synechron

Arcus Global

Corndel

Sohonet

Boats Group

Capital & Counties CG Limited

Derwent London Plc

Brookfield

Equites Property Fund/Hermes Hoyland

Watkin Jones Group Plc

Endurance Land/Nan Fung (referred to as Capital Treasure)

PGIM

Work highlights

  • Advised the management team of Sohonet on the tax elements to the equity arrangements on the secondary buy-out of Sohonet, led by LDC.
  • Advised Advanced, the UK’s third largest provider of business software, on the tax elements of its acquisition of Clear Review, a global performance management and employee engagement software company.
  • Advised Boats Group on the tax elements to its acquisition of the leading boating marketplaces in England, BoatsandOutboards.co.uk and Boatshop24.co.uk, as well as the popular sister site in Germany, Boatshop24.com, from Friday Media Group.

Proskauer Rose LLP

Proskauer Rose LLP has a 'commercially minded' tax team with a 'deep understanding' of fund formation-related tax issues. Robert Gaut heads up the practice and is an 'outstanding tax adviser'. Stephen Pevsner has deep expertise in private fund formation and private equity sector tax work. Managing partner Mary Kuusisto is a 'clear standout' in the field of private equity taxation, and Catherine Sear is a key point of contact for fund tax work.

Practice head(s):

Robert Gaut

Other key lawyers:

Stephen Pevsner; Mary Kuusisto; Catherine Sear; Matt Pincus; Katerina Heal

Testimonials

The Proskauer Rose private equity tax team offers very strong technical capabilities coupled with very insightful and practical business solutions. This is not very common for tax professionals. Often you hear the technical description of a tax law or regulation with very little practical guidance or insight. The tax team can help solve business problems.’

Mary Kuusisto is the best tax attorney in private equity. The combination of her experience, tax expertise, and business acumen make her a clear standout in this field.’

Robert Gaut is an outstanding tax adviser. He gives advice which is very practical.’

Deep understanding of fund formation-related tax issues.’

Stephen Pevsner is my primary point of contact. He is responsive, user friendly in his advice, diligent and commercially minded. My go-to person when it comes to standalone UK corporate tax advice.’

Key clients

ICG

ScaleVP

Ardian

Atomico

Deliveroo

Falcon Investment Advisors

Värde Partners Europe

Ares Management Corporation

Antin Infrastructure Partners

Hg

Work highlights

  • Advised Tenzing Private Equity on its second fund securing £400m in the first ever completely virtual fund raise due to the coronavirus pandemic.
  • Advised leading global software investor Hg on its latest fundraisings totalling $11bn across three vehicles.
  • Advised funds managed by the Credit Group of Ares Management Corporation on the largest ever unitranche financing representing in aggregate £1.9bn commitment to The Ardonagh Group, the UK’s largest independent insurance broker.

Ropes & Gray LLP

Ropes & Gray LLP's tax team is led by Brenda Coleman who has a well-established presence in the international tax planning space. Andrew Howard focuses on financing transactions, including private equity issues, fund work, IPOs and real estate matters. Counsel Chris Agnoli is also noted and has a broad cross-border tax practice.

Practice head(s):

Brenda Coleman

Other key lawyers:

Andrew Howard; Chris Agnoli

Testimonials

Ropes & Gray tax team are very good with all-round tax knowledge benefiting private equity houses with a range of expertise on relevant tax topics.’

Key clients

Averna Capital

Partners Group

Arsenal Capital Partners

TPG’s Integrated Media

Sound United (Charlesbank Capital Partners)

3i Group

Advent International

Medtronic

Charlesbank Capital Partners

Liberty Global

TSG Consumer Partners

Xerox

Envision Pharma Group/ GHO Capital

Goldman Sachs – Intrum

King Street and Arax Properties

CBRE

SC Health Corp

Work highlights

  • Represented SC Health Corp. in its proposed merger with Rockley Photonics, Ltd.
  • Advised Envision Pharma Group on the tax aspects of its acquisition of Two Labs.
  • Advised Integrated Media Company on the tax aspects of the acquisition of a majority stake in Goal from the DAZN Group.

Sidley Austin LLP

Sidley Austin LLP's tax team provides 'excellent client service, clear advice and technical know-how' on private equity deals, M&A transactions, fund formations, and debt and equity restructurings. Oliver Currall co-heads the firm's European tax practice and is a chartered tax adviser, with a strong practice that focuses on UK and international tax planning work. Jason Menzies was promoted to partner in 2020 and is also experienced in advising on a number of pharmaceuticals M&A transactions. Key changes to the team in 2020 includes the departure of Will Smith and Drew Scott's retirement.

Practice head(s):

Oliver Currall

Other key lawyers:

Jason Menzies

Testimonials

Excellent client service, clear advice, technical know-how, problem solving, integrated within the legal process, fund and deals tax advice.’

Excellent tax technical knowledge, deep PE industry experience, client service awareness – they know what matters to clients and are always at the end of a phone being super responsive. Oliver Currall and Jason Menzies are key names to note.’

Key clients

TowerBrook

Kohlberg, Kravis & Roberts (KKR)

Hoffmann-La Roche Inc.

GHO Partners

Permira Debt Managers

Queen’s Park Equity

Travelex

Massachusetts Mutual

Arvelle Therapeutics

GIC

Work highlights

  • Advised TowerBrook Capital Partners on all material tax aspects of the acquisition of Azzurri Group by way of a pre-pack administration.
  • Advised Travelex, the world’s largest foreign exchange bureau, on its high-profile restructuring.
  • Advised Arvelle Therapeutics, an innovative biopharmaceutical company, on its $960m sale to Angelini Pharma.

Stephenson Harwood

Stephenson Harwood advises on the full range of transactional, structuring and advisory work across all direct and indirect taxes, with particular expertise in handling complex cross-border matters. Practice head Maryanna Sharrock has a broad tax practice that covers cross-border M&A tax issues; she is praised for her 'commercial and pragmatic' approach. John Meehan is another key point of contact, and senior associate Kate Worthington is also noted for her experience in handling a wide variety of real estate transactions.

Practice head(s):

Maryanna Sharrock

Other key lawyers:

John Meehan; Hilary Barclay; Kate Worthington

Testimonials

‘Maryanna is incredibly “user friendly” – both commercial and pragmatic.’

‘Always receive excellent detailed advice.’

Key clients

Oxford Biomedica

ENGIE

Inmarsat

LXI REIT

Schroder Real Estate Investment Trust/Schroder Real Estate Fund

London Metric

Civica

Bowmark Capital

Covanta Holdings Limited

Arthur J Gallagher

Tristan Capital

Work highlights

  • Advised AJG on its very significant acquisition of The Bollington Wilson Group.
  • Advised on the IPO of Home REIT, a real estate investment trust focused on accommodation for the homeless.
  • Advised Schroders on the sale of Kings Mall Shopping Centre in Hammersmith to IKEA for £130m.

Weil, Gotshal & Manges (London) LLP

Weil, Gotshal & Manges (London) LLP displays a broad range of tax expertise, from advising on private equity and corporate M&A, to corporate insolvencies and group restructurings. Oliver Walker has extensive experience in handling a broad range of transactions in the corporate M&A and private equity space, while Jenny Doak has a strong focus on SPACs and M&A work. Aron Joy is also noted and has particular expertise in fund tax matters.

Practice head(s):

Jenny Doak; Oliver Walker

Other key lawyers:

Aron Joy

Testimonials

I have worked with WG&M for more than 15 years across multiple specialisms / product areas and it is not an understatement to say that everyone I have worked with has been incredibly capable, trustworthy and most importantly a pleasure to interact with. Their team culture and respectful, common-sense approach is something I have always valued highly and why I wouldn’t hesitate to recommend them as a team.’

Aron Joy and his team provide excellent support on tax issues arising during the fund establishment and fund raising process. They are always on top of the issues and willing to make themselves available at short notice.’

Key clients

Brookfield Asset Management

Advent International

Sculptor Capital LP

Montagu Private Equity

Bain Capital

KKR

Fidelity National

bd-capital Partners

HM Treasury

General Atlantic

Fortis Inc.

PSP Investments

Infrared

Astarte

Antin Infrastructure

Castleforge

Work highlights

  • Advised Brookfield Asset Management on the structuring, establishment and initial closing of its first pan-European core-plus real estate fund with a with total equity commitment to date of €1.14bn.
  • Advised Foley Trasimene Acquisition Corp. II on its pending $9bn merger with Paysafe Group.
  • Advised Odeon Cinemas Group Limited and its subsidiaries on its refinancing, involving an entry into a new £400m term loan facility agreement, which enabled it to refinance its existing revolving credit facility and provide further working capital.

Milbank

Headed by Russell Jacobs , Milbank 's London tax team advises on a broad spectrum of matters, ranging from the tax support aspects of M&A and leveraged finance, to mandates where tax is playing a pivotal role critical to the deal’s success. Since the departure of special counsel Matthew Mortimer, the firm has expanded at the associate level, adding Steven Quinn  and Cosmos Fung  to work alongside James Seddon  and Jacobs.  The team’s workload has increased markedly in line with lateral hiring across the London office more broadly and the practice has notably advised on a number of major restructurings over the last year, often working alongside colleagues in the US.

Practice head(s):

Russell Jacobs

Other key lawyers:

Steven QuinnCosmos Fung;  James Seddon

Key clients

OneWeb Global Limited

KKR Otto (GmbH & Co. KG)

Del Monte Fast Logistics

Angelo Gordon, Bain Capital, Bardin Hill, Brigade Capital, BlueMountain Fuji, Cairn Capital,  Capital Four, Commerzbank, EQT, Invesco, Investcorp, KKR, King Street Capital Management, Mackay Shields, Nassau Re, PGIM (Prudential Financial, Inc.)

Avianca Holdings SA

Ad hoc committee of lenders

Seadrill

Goldman Sachs, Credit Suisse, UniCredit, BNP Paribas / Carlyle, Bain Capital, BC Partners, Advent, KKR

Apollo Management

Work highlights

  • Advising Avianca Holdings S.A. in connection with the tax aspects of the restructuring of theAvianca Group, including under chapter 11 of the US Bankruptcy Code.
  • Advised the Otto Group on the tax structuring of the partnership with Advent Internationalfor Hermes UK and Hermes Germany. As a result of the transaction, Advent acquired a 75%stake in Hermes UK and a 25% stake in Hermes Germany.
  • Advised OneWeb Global Limited (“OneWeb” or “the Debtors”), a company developing the first world-wide high-speed internet connectivity network through a low-earth orbiting satellite constellation, to confirmation of its plan of reorganization in its chapter 11 cases.

Akin Gump LLP

Akin Gump LLP has a 'superb' tax team that offers 'encyclopaedic knowledge' and 'practical solutions'. The practice primarily focuses on the financial services sector and showcases expertise in handling tax issues relating to financial restructurings, securitisations and investment funds. Former practice head Stuart Sinclair moved to EY LLP in July 2021, and was supplanted by Sophie Donnithorne-Tait in September 2021, who is highly recommended for tax-related restructuring work and is 'smart as a whip' according to clients. Counsel Serena Lee is also noted as 'hardworking' and 'insightful'.

Practice head(s):

Sophie Donnithorne-Tait

Other key lawyers:

Serena Lee; Matthew Durward-Thomas

Testimonials

The team is superb and the strongest I have ever encountered in the industry.’

Akin Gump’s corporate tax practice is really broad compared to many firms – they have a combination of a depth of knowledge across a broad range of corporate tax issues which makes them stand out from other firms. This is especially so in relation to international tax matters and restructurings and transactions involving a number of tax jurisdictions.’

Sophie Donnithorne-Tait has been very impressive. The team are clearly at the top of their game and know tax law back to front. Serena Lee has been the lead lawyer on our matters and has been, frankly, perfect. She is bright, insightful, hardworking and easy to work with.’

Encyclopaedic knowledge of UK and EU tax rules and tax treaties, insightful analysis and practical solutions to difficult problems.’

Key clients

Royalty Pharma

Travelex Investor Group

Prudential Insurance Company of America (PRICOA)

The Ad Hoc Committee of Noteholders of Valaris plc

Fernando Parent Limited

PIK Lenders Swissport

Ad Hoc Committee of Noteholders of intu Metrocentre Finance plc

Ad Hoc Group of Creditors of Premier Oil Group

VPI Holdings Limited

Endava PLC

Work highlights

  • Advised Royalty Pharma on its successful IPO and listing on the Nasdaq Global Select Market.
  • Advised an ad hoc group of senior secured noteholders in relation to the financial restructuring of the Travelex group, through which the group’s international business was transferred, by way of a series of pre-pack administration sales, to a new holding structure: New Travelex.
  • Advised PRICOA in connection with the proposed restructuring of its investment in the UK franchise of Pizza Hut, which resulted in a successful Company Voluntary Arrangement.

Bird & Bird LLP

Bird & Bird LLP has expertise in handling tax issues for clients in the technology and digital services space. Cross-border work and IP-related tax issues are another key area of focus for the practice. Zoe Feller heads up the practice and has expertise in handling tax issues that involve cross-border elements.

Practice head(s):

Zoe Feller

Key clients

Six Nations Rugby Club Limited

DP Poland Plc (Domino’s Pizza)

ICM Partners

Crowdcube Limited

Better Collective A/S

Padero Solar

Island Green Power

Riskpoint A/S

Gamma Communication

Work highlights

  • Advised Six Nations Rugby Limited on a private equity investment by CVC.
  • Advised DP Poland plc, the operator of Domino’s Pizza brand and stores in Poland, on its acquisition of Dominium S.A., a Polish based pizza restaurant chain, together with an associated fundraising and re-admission of the enlarged group to trading on AIM.
  • Assisted ICM Partners on the purchase of SHL, parent company of Primary Talent International Limited and The Stellar Group Limited.

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP has an 'extremely knowledgeable' tax team and displays particular expertise in handling tax structuring work relating to multi-jurisdictional corporate and financings transactions. The 'highly experienced' Adam Blakemore leads the practice and advises on a range of financing transactions including securitisations, repackagings and hybrid capital issuances. Special counsel Catherine Richardson is also noted and has a broad UK and international tax practice.

Practice head(s):

Adam Blakemore

Other key lawyers:

Catherine Richardson; Hugo Chan

Testimonials

The Cadwalader tax team are ahead of the pack! They are at the forefront of delivering cutting-edge tax advice on precedent-setting deals and act for all large financial institutions and market operators on a wide variety of credit deals.’

Adam Blakemore is extremely knowledgeable and has a strong grasp of both direct and indirect taxation! Catherine Richardson is a rising star!

The team are extremely knowledgeable on all areas related to my specific area of concern, taxation of institutional real estate investment funds and the advantages and disadvantages of the range of available fund structures from a tax perspective.’

Adam Blakemore is a highly experienced and extremely knowledgeable tax expert in the field of institutional investment funds, recognised and respected by peers as an industry leader.’

Adam Blakemore and Catherine Richardson deserve specific mention. They are a pleasure to work with, always interested in finding the best solution for clients, complimented by excellent technical knowledge and depth of experience.’

Key clients

Greencoat UK Wind Plc

MUFG Securities EMEA plc

CLOs

Fund Finance

Standard Chartered PLC

East London Business Alliance

Hudson Executive Capital – Cardtronics plc

Work highlights

  • Advised Greencoat UK Wind PLC on the tax aspects of its share issuance programme of up to 750 million new ordinary shares and admission to the official list and trading on the London Stock Exchange’s Main Market.
  • Acted as English and US legal counsel to MUFG Securities EMEA plc on the tax aspects of its ground-breaking North Westerly VI B.V. (North Westerly VI) European cash flow ESG CLO transaction.
  • Advised Standard Chartered PLC on the tax aspects of its partnership with one of the largest private-market investment managers to complete one of the world’s first sustainable use of proceeds subscription finance facility.

Cleary Gottlieb Steen & Hamilton

Cleary Gottlieb Steen & Hamilton has an active presence in the M&A market with a broad client base consisting of major banks and financial institutions, large domestic and global multinational companies, sovereign wealth funds, and private investment funds. Lead tax partner Richard Sultman is a corporate taxation specialist. Counsel Jennifer Maskell and associate Laura Mullarkey are also noted.

Other key lawyers:

Richard Sultman; Jennifer Maskell; Laura Mullarkey

Key clients

Walgreens Boots Alliance

Euronext

Tronox

Allied Universal

LivaNova

TPG

Wockhardt

Casa Tarradellas

GSK

3M

Alstom

Work highlights

  • Advised Walgreens Boots Alliance in connection with the $6.5bn sale of its pharmaceuticals wholesale businesses to AmerisourceBergen Corp.
  • Assisted Euronext with its €4.325bn acquisition of the Borsa Italiana Group from the London Stock Exchange Group plc.
  • Advised Tronox Holdings plc on its $300m acquisition of TiZir Titanium & Iron and its Norwegian production facility from Eramet.

Clyde & Co LLP

Clyde & Co LLP has expertise across all aspects of insurance taxation, covering public and private insurance M&A transactions, underwriting issues and insurance premium tax. Other key areas of strength include real estate, M&A and employment tax work. Practice head Ray Smith's specialist areas include advising on the tax aspects of insurance and real estate transactions. David Blumenthal frequently advises on share schemes and employee incentives.

Practice head(s):

Ray Smith

Other key lawyers:

Susan Ball; David Blumenthal; Malcolm Frost

Testimonials

The individuals at the firm are extremely knowledgeable regarding their area of practice and are able to explain complex matters in a simple and understandable way.’

I have worked with Ray Smith and David Blumenthal. I find them to be highly competent in simplifying technical nuances in a way that is easier to understand. They are also very commercial in their approach and help me to ensure that I have the bases covered. They are responsive, always deliver, and are very pleasant to work with and engage with.’

Key clients

Capsicum Re Managing Partners

Spelthorne Borough Council

Chatsworth Schools

Grainger Residential Limited (part of Grainger Plc Group)

B&Q Properties Limited

Brentwood Development Partnership LLP (a Brentwood Borough Council/Morgan Sindall JV)

Connected Living London Living (a Grainger/TFL JV)

Milton Keynes Hospitals NHS Foundation Trust

B&Q Limited

Regal London

Grainger (Aldershot) Limited (part of Grainger Plc Group)

Urban & Civic plc

U & I Group PLC

Borough Council of King’s Lynn and West Norfolk

Wyngrove Limited

Work highlights

  • Acted for the managing partners of Capsicum Re on the sale of Capsicum Re to the international insurance group Arthur J Gallagher.
  • Acting for CLL on the conditional agreements to purchase four sites (at Southall, Montford Place, Arnos Grove and Cockfosters) from TFL.
  • Acted for the appellant, Milton Keynes Hospitals NHS Foundation Trust, before the Court of Appeal on whether HMRC has the power, for VAT purposes, to assess government departments to tax under s 73(2) of the VAT Act 1994.

Davis Polk & Wardwell LLP

Davis Polk & Wardwell LLP's tax team advises on a broad range of corporate tax and corporate tax planning work, covering both UK and US tax law. Jonathan Cooklin heads up the practice and focuses on corporate tax planning issues, including reconstructions, capital markets transactions and cross-border M&A. Counsel Dominic Foulkes and associate Veronica Davis are also noted.

Practice head(s):

Jonathan Cooklin

Other key lawyers:

Dominic Foulkes; Veronica Davis

Key clients

Natura Cosmeticos

Citigroup

Comcast

NatWest

J.P. Morgan

AstraZeneca

The Brink’s Company

Clarivate Analytics

Mereo BioPharma

Goldman Sachs

IHS Markit

Pfizer

Morgan Stanley

Lazard

Temenos

Telia Company

UBS

Ferrero

Reliance Industries

Royalty Pharma

Ocado

BDT Capital Partners

Work highlights

  • Advised IHS Markit on tax issues in connection with its all-stock merger with S&P Global that valued IHS Markit at an enterprise value of $44bn.
  • Advised CrowdStrike Holdings, Inc. on tax issues in connection with its $400m acquisition of Humio.
  • Advised UBS as sponsor on tax issues in connection with the unification of Unilever’s dual- headed group legal structure under a single parent company, Unilever PLC.

DLA Piper

DLA Piper advises on a broad range of domestic and international corporate, real estate and finance tax issues. Real estate is a key focus for the team and Richard Woolich leads the work in this area. Ben Brown co-heads the practice alongside Woolich and advises on corporate and finance transactions.

Practice head(s):

Ben Brown; Richard Woolich

Other key lawyers:

Maud Murcia

Testimonials

Richard was very good at brainstorming ideas with me, which was very helpful in preparing for Court. He is also excellent in understanding the clients’ commercial needs and in explaining in client friendly terms what the various choices and issues during litigation are. Maud Murcia is an efficient and hardworking associate.’

Really strong set of partners, with Richard Woolich the standout individual.’

The team is very professional and the advice given is very good.’

Goodwin

Goodwin's tax team displays a strong level of expertise in the private equity, real estate, technology and life sciences sectors. Practice head Laura Charkin is a recognised fund tax practitioner, while Robert Young has a strong background in the technology and life sciences space, and Katie Leah focuses on the tax elements of real estate transactions and private equity work. Key changes to the team includes the arrival of Dulcie Daly from Kirkland & Ellis International LLP in March 2021.

Practice head(s):

Laura Charkin

Other key lawyers:

Robert Young; Katie Leah; Dulcie Daly

Key clients

Macquarie

Ares Management

Investcorp

Amcor plc

Bregal Investments

Graphite Capital

Advent International

Glennmont Partners

Work highlights

  • Advised Macquarie Green Investment Group on the structuring and fundraising of its latest fund, Macquarie GIG Renewable Energy Fund 2.
  • Advised Medical Properties Trust, Inc. in respect of its agreement to acquire a portfolio of select behavioural health facilities, and the concurrent leaseback, from the leading UK behavioural health provider The Priory Group.
  • Advised LionRock Capital on its acquisition of a majority stake in UK shoe manufacturer and retailer C&J Clark Limited.

Greenberg Traurig, LLP

Greenberg Traurig, LLP displays 'in-depth knowledge' of the tax aspects of M&A transactions, real estate transactions and real estate fund structuring work. Graham Iversen leads the practice and advises on the tax aspects and structuring of high-end M&A transactions, co-investment arrangements and other corporate transactions. Charles Case is 'deeply insightful' on all aspects of fund taxation, and Ben Eaton is 'highly experienced' in the real estate tax space. Clients praise the team for their 'extremely commercial' approach.

Practice head(s):

Graham Iversen

Other key lawyers:

Ben Eaton; Charles Case

Testimonials

Ben and his team are high calibre. What set’s them apart from other law practices in this field is their in-depth knowledge of the business and strong technical competence. Their attitude to their clients is positive and they are on hand to solve problematic issues with practical solutions. They are extremely commercial in their approach and in my view they are some of the best in the market currently.’

Ben Eaton, Partner, is highly experienced in all areas of real estate tax. He is always on hand with very commercial solutions and you can have complete confidence in his advice. He is a pleasure to work with.’

Charles is deeply insightful on the international market’s approach to fund formation.’

Key clients

Oval Real Estate Limited

Revcap Advisors Limited

Black Dragon Capital LLC

Macquarie Infrastructure and Real Assets (MIRA), a division of the Macquarie Group

Landscape Acquisition Holdings Limited (now named Radius Global Infrastructure, Inc.)

British Airways Pension Fund

Crosstree Real Estate Partners

Edmond de Rothschild Real Estate Investment Management

Hines Europe

Kernel Court Limited

Westway JV Limited

The Collective

Trinova Real Estate and Stars REI

Mitheridge Capital Management LLP

Valor Real Estate Partners

Paloma Capital

Rentokil Group plc

Stemcor Global Holdings Limited

GlobalLogic

Ark Data Centres

Precis Capital

Ardent

Work highlights

  • Advised Oval Real Estate Limited on all tax aspects of the investment and acquisition structures in establishing a series of parallel partnerships to invest in UK real estate, including the landmark Birmingham office building 1 Colmore Square.
  • Acted for MIRA on the disposal of its rolling stock leasing business, Macquarie European Rail.
  • Advised Paloma Capital on the sale of a portfolio of 27 industrial properties across the UK.

McDermott Will & Emery UK LLP

McDermott Will & Emery UK LLP‘s key areas of focus include M&A transactions, fund formations, banking issues and real estate tax. Practice head James Ross handles a broad range of work that covers restructurings, transfer pricing issues, thin capitalisation work and double tax treaty issues. Associate Sarah Gabbai is also noted for her ‘all-round tax law expertise and exceptional level of client care’; she handles tax advisory work for technology and healthcare clients.

Practice head(s):

James Ross

Other key lawyers:

Sarah Gabbai

Testimonials

James Ross and his team are experts for international tax and are particularly responsive and on point. Even complex questions in the context of transfer pricing or VAT are in the best hands with them. For us a swift response to our inquiries is often key.’

I have found them to be rigorous, responsive and highly expert in all my dealings with the firm.’

Sarah Gabbai stands out for her all round tax law expertise and exceptional level of client care. This equally applies to her pro bono work which epitomises what pro bono work should be about. She has provided invaluable support to our charity over several years, and is unfailingly diligent and responsive in providing highly expert advice on a wide range of tax law and related issues. I cannot recommend her highly enough.’

Key clients

Ampersand Capital

Great Point Partners

Barilla

Work highlights

  • Represented Ampersand Capital Partners in its purchase of Tjoapack Netherlands B.V., a pharmaceuticals packaging and supply chain management service provider.
  • Advising SilverTree on the financing of its inaugural UK deal, the acquisition of Orbus Software from certain investors and the founders.

Osborne Clarke LLP

Osborne Clarke LLP's tax team has a broad client offering with particular strength in the technology, media and communications, real estate and infrastructure sectors. Tracey Wright heads up the UK tax practice and advises a range of investors, funds and developers in the real estate and infrastructure sectors. David Nisbet focuses on private equity mandates and Mathew Oliver is a key contact for tax-related M&A work. Erika Jupe leads the international tax practice.

Practice head(s):

Tracey Wright; Erika Jupe

Other key lawyers:

Mathew Oliver; David Nisbet; James Hamon; Luolan Dong

Testimonials

‘The team are knowledgeable and commercial.’

Key clients

Foresight Solar Fund Limited

Davies Group

Tenzing Private Equity

Lloyds Development Capital

Synova Capital

Focus Group

Risk point

Longharbour

PGIM

M&G RPF Ltd

Senior management of Babble

Senior management of MThree

TalkTalk plc

Miniclip games

Shareholders of AVMI

Work highlights

  • Advised the management of BMI Healthcare on the $2bn sale of BMI Healthcare’s operating business and property portfolio to two different buyers.
  • Advised TalkTalk plc on certain tax aspects of its £1.1bn takeover by Tosca IOM Limited.
  • Advised the shareholders of Student Castle Group on certain tax structuring aspects and on the transactional side of the £448m disposal of its Student Accommodation portfolio to Singapore Press Holdings Limited.

Paul Hastings LLP

Investment fund, private equity and structured finance matters are key areas of focus for the tax team at Paul Hastings LLP. Practice head Arun Birla is singled out by clients as 'exceptional', and Jiten Tank, who was recently promoted to partner in 2020, has a strong real estate background. Associate Hannah Gray is 'great' and advises on the structuring of financial products.

Practice head(s):

Arun Birla

Other key lawyers:

Jiten Tank; Hannah Gray

Testimonials

Arun Birla and Hannah Gray are great lawyers, who have the rare ability to explain complex tax issues, which are not easy to digest for clients. I like their pragmatism, which combines with deep industry knowledge. Both of them are easily approachable, also on a really tight deadlines.’

Across the team, there is outstanding diversity and depth of knowledge. Although spot on with their technical advice, this is always counterbalanced with a real understanding and appreciation of the commercial elements of the deal.’

Arun Birla is exceptional. His wider appreciation of the transaction and key commercial drivers see him provide very focused and practical tax advice. Jiten Tank is also a partner of note, consistently providing support and input beyond simply a tax remit and in a very commercial manner.’

Jiten Tank is an excellent lawyer who can handle any tax issue in a clear and concise way.’

Key clients

Abry Partners II, LLC

CVC Credit Partners

Activum SG

Oakley Capital

Monaco Telecom SAM

eir

Credit Suisse

Goldman Sachs

Citibank

Jacobs Engineering Group

Brookfield Business Partners

Keysight Technologies

Work highlights

  • Advised Abry Partners II, LLC and Link Mobility Group on Link Mobility’s listing on the Oslo Stock Exchange (OSE).
  • Advised on the tax aspects of multiple CLOs, real estate financings and securitisation matters.
  • Advised Oakley Capital on its agreement to dispose of the atHome and Casa.it businesses and Oakley’s reinvestment into the combined business of Casa.it and Idealista.

Reed Smith LLP

Reed Smith LLP has a broad client base that includes multinational companies, banks, private equity houses and management teams. Key sectors of expertise include the financial services, entertainment and media, real estate and shipping industries. Caspar Fox heads up the European tax practice and is 'highly intelligent and knowledgeable', while  Laura Gould focuses on transactional tax and Gareth Amdor specialises in employee benefits, private equity fund establishments and investment matters.

Practice head(s):

Caspar Fox

Other key lawyers:

Gareth Amdor; Laura Gould

Testimonials

Caspar Fox is our Partner. He has a deep understanding of our industry and business. Our relationship has developed such that he understands our business’s approach and appetite for risk – this allows for a pragmatic approach where appropriate, but ensures we are well protected where needed.’

Caspar Fox is highly intelligent and his knowledge is very detailed across a broad spectrum which includes corporate, real estate and financial services issues. He is very quick to understand a fact pattern and identify the relevant tax issues. We have absolute confidence that his advice will be accurate and complete. He is extremely pleasant and easy to work with and his explanations are always clear, concise and easy to understand.’

Taylor Wessing LLP

Taylor Wessing LLP has a broad client offering in the tax space and advises on corporate and financial markets transactions, reorganisations and equity and debt listings. Key sectors of strength include the technology and media, private wealth and real estate industries. The team was previously led by Peter Jackson and is now led by Graham Samuel-Gibbon who took over in May 2021. Liz Wilson is another key name to note.

Practice head(s):

Graham Samuel-Gibbon

Other key lawyers:

Peter Jackson; Liz Wilson; James Stewart

Testimonials

‘Technically excellent; also were very committed to the work.’

‘Peter Jackson; technically very strong and he works with enthusiasm.’

Key clients

Goodman UK

Long Tall Sally

Canada Life

Deluxe Entertainment Services

BlackLine Inc.

EQT Real Estate

Medicxi portfolio companies

Zoopla/Hometrack

Nucleus Global

Laybuy

Godrej plc

Tritax Big Box REIT

EPIC

Work highlights

  • Advised EQT on a £1bn residential real estate joint venture, set to bring 3000 new rental homes to Greater London.
  • Advised on the sale of specialist medical communications group, Nucleus Global, to international healthcare and communications group Huntsworth.
  • Advised Laybuy on the UK aspects of its IPO on the Australian Securities Exchange, including associated pre-IPO corporate reorganisation and £80m debt facility.

Watson Farley & Williams LLP

Watson Farley & Williams LLP advises on transactions, tax consultancy matters and disputes, with specialist expertise in the energy and transport sectors; advising ship lessees on complex high-value disputes with HMRC is a key area of focus. Richard Stephens has specialist maritime tax expertise and Tom Jarvis has a strong background in the energy and infrastructure sectors. Chris Kilburn heads up the corporate group services practice.

Practice head(s):

Chris Kilburn

Other key lawyers:

Richard Stephens; Tom Jarvis

Testimonials

Tom Jarvis and his team were incredibly responsive and gave excellent advice.’

Tom Jarvis has a deep understanding of his subject matter and is able to advise on complex tax problems in a way which is practical and easy to understand from a non-tax-lawyer perspective. He conveys a sense of genuine interest in the issues he is advising on and a sense that he cares greatly about the outcome from the client perspective.’

Richard Stephens has a considerable amount of knowledge and experience in the area of tax with which we were concerned. His expertise extends from not just technical but to commercial also. This was particularly relevant on the asset disposal that he was advising on. He was able to resolve queries and issues promptly and to the satisfaction of all shareholders.’

Key clients

Lightsource BP

National Westminster Bank

The Renewables Infrastructure Group / Infrared Capital Partners

Vattenfall

DNB Bank, Bank of Montreal, BNP Paribas and Lloyds

IPR Energy Group

Work highlights

  • Advised a number of key strategic creditors of VAA on the airline’s landmark £1.2bn restructuring and recapitalisation plan.
  • Advised leading alternative asset manager HRL Morrison & Co. on structuring and implementing an investment platform for pan-European developments.
  • Acted for a number of major international cruise lines through their management of the Covid pandemic, the laying up of their vessels and their planned cruise restarts.

White & Case LLP

White & Case LLP advises on corporate and employment tax, corporate structuring issues, and national and international transactions for a range of clients in the financial services, energy and mining, pharmaceuticals and real estate sectors. Laura Hoyland is a key name to note and is 'valued for her technical excellence'; she has a growing practice in renewable energy tax mandates. Former Sidley Austin LLP partner Will Smith joined the team in early 2020, although practice head Peita Menon left to join Vinson & Elkins RLLP in mid-2021.

Other key lawyers:

Laura Hoyland; Will Smith

Testimonials

Laura Hoyland is extraordinarily able and is proving to be an essential member of the team – valued for her technical excellence as well as her approachable style.’

Always available, approachable and very responsive. They meet all my deadlines and I feel confident in their advice.’

Key clients

Accelerant Holdings

Angelini Pharma

The Carlyle Group

EIG Global Energy Partners

Energean Plc

Farallon Capital Management

GFH Financial Group

Kobalt Music Group

Nestlé

Global Palladium Fund, associated with the Norilsk Nickel group

Qatar Investment Authority

Swissport International AG

Work highlights

  • Advised the Carlyle Group on the tax aspects of cross-border deals across the private equity and technology industries.
  • Advised Global Palladium Fund on the tax, regulatory, and mining/metals considerations applicable to a metals-backed ETC programme establishment.
  • Advised Swissport Group, the market leader in ground handling for the aviation industry, on the tax implications of its financial restructuring and balance sheet recapitalisation.

Bristows LLP

Bristows LLP has expertise in advising on the tax aspects of structuring corporate, commercial and real estate transactions. Practice head Miranda Cass has particular experience in advising clients in the life sciences, TMT and charity sectors, while senior associate Julia Cockroft has a broad corporate and real estate tax practice.

Practice head(s):

Miranda Cass

Other key lawyers:

Julia Cockroft

Testimonials

This team is very responsive and engaged. Each member is current as to changes in applicable legislation and can advise on appropriate disclosure related to the same. The team is also very commercial and practical, which makes working with them effortless, including how that approach can diffuse potentially lengthy and sterile theoretical debates in negotiation.’

Each team member is engaged and invested. It is clear they understand the overall transaction and the context in which they are giving advice. Each team member is responsive and reliable, both in reverting with comments and the quality of those comments and input. Very pleased to be continuing my collaboration with Miranda Cass and Julia Cockroft. We rely on them heavily and they never disappoint.’

Key clients

Waterland Private Equity

Oxford Sciences Innovation PLC

Motion Equity Partners

Neurogeneus Limited

University of Oxford

Base Genomics

WPP plc

AstraZeneca plc

Diageo

Blue Diamond

NuCana PLC

UCL Business

Stada

IXICO PLC

OMass Therapeutics Ltd

Sony Interactive Entertainment Europe

Johnson & Johnson Innovation

Adthena

Deep Matter PLC

Capgemini

Abingdon Health

Atnahs Pharma

Schibsted Media AB

Work highlights

  • Advised Waterland Private Equity on the tax aspects of the acquisition of The Priory Group for over £1bn.
  • Advised Base Genomics and its key shareholders in connection with its sale to Exact Sciences.
  • Advised AstraZeneca on the tax implications and documentation governing the strategic divestment by AstraZeneca of its rights to Crestor to Grunenthal GmbH in over 30 countries in Europe.

Burges Salmon LLP

Burges Salmon LLP advises on a broad range of inbound investments, fund set up and investment issues, real estate transactions and corporate restructurings. Sarah Lane has a strong contentious and non-contentious practice, with particular expertise in alternative funds. Ian Carnochan offers tax advice to a wide variety of corporates, private equity houses, real estate companies, regulated funds, and financial institutions.

Practice head(s):

Sarah Lane; Ian Carnochan

Other key lawyers:

John Barnett

Testimonials

Burges Salmon are quick to respond to my questions with practical and accurate advice. They don’t waste time telling me what I already know, so they always add value.’

The team is quick to understand what I need from them, and they tailor their advice accordingly. They are practical and commercially aware.’

Key clients

Bluefield Capital Partners

First Trenitalia

Louis Capital Markets

Yeo Valley

The Crown Estate

Forsa Energy

Bank Leumi

UK Atomic Energy Authority

Gresham House

Virgin Group

BSW plc

Work highlights

  • Advising a South African headquartered fund group on the tax issues in relation to the set up of a further £100m fund to invest in UK knowledge intensive companies.
  • Advised Bluefield Solar on the tax aspects of the acquisition and financing of a portfolio of 15 operational solar photovoltaic plants with a total installed capacity of 64.2 megawatt peak.
  • Advised the Joint administrators of Côte Restaurants Group on the tax aspects of the administration sale of the business and operating assets of the Côte Restaurants Group Holdings Limited (and other Group companies).

Cooley (UK) LLP

Cooley (UK) LLP has a broad client offering in the private equity and capital markets space, as well as displaying particular strength in the life sciences and technology sectors. Natasha Kaye heads up the practice and advises on a range of transactions, including cross-border and domestic M&A, equity capital markets transactions and reorganisations. David Wilson is 'extremely bright' and 'well respected', with particular expertise in the life sciences space.

Practice head(s):

Natasha Kaye

Other key lawyers:

David Wilson

Testimonials

Cooley is clearly a tight-knit, collegiate firm with a strong sense of team, and lawyers who enjoy working with clients and each other on challenging, transformative opportunities. The tax team interacts seamlessly with other Cooley functions, offering an integrated perspective and deeply informed perspective for clients. They are natural problem solvers, highly motivated in partnering with clients on complex matters, and always retain a client-centric commercial outlook.’

David Wilson (Partner, Tax): effortless ability in translating complex cross-border tax and restructuring matters to informed, succinct, and pragmatic guidance, in the face of pressing time constraints. Extremely bright tax counsel who is meticulously researched for every discussion, and always appreciates the life sciences angle. Well-respected and tactful negotiator with opposing counsel which greatly streamlined our overall engagement.’

Key clients

Pizza Hut Restaurants UK

Snyk

Immunocore Holdings plc

Bicycle Therapeutics plc

Primary Capital

Battery Ventures

Endava plc

IRIS Capital

Thras.io

Morgan Stanley

Goldman Sachs

Jeffries

Teneo Business Consulting

Vir Biotechnology

Omaze

Eliem Therapeutics

Syneos Health

Work highlights

  • Advised Pizza Hut Restaurants UK in connection with various tax issues arising out of its restructuring.
  • Advised Snyk on a Series D financing (raising $200m, on a company valuation of $2.6bn), as well as the the acquisition of DeepCode AG, a cutting-edge Swiss AI/tech business.
  • Advised late-stage biotechnology UK company Immunocore on its $312.1m aggregate financing.

Dechert LLP

Dechert LLP's tax team has a wide range of expertise in handling UK and cross-border tax matters, particularly for hedge funds and credit funds; it also handles investment management and private equity work. Practice head Mark Stapleton has extensive experience advising clients on offshore funds and investment management issues, while Daniel Hawthorne has a broad direct and indirect taxation practice. Clients praise the team for its 'pragmatic' and 'personable' approach.

Practice head(s):

Mark Stapleton

Other key lawyers:

Daniel Hawthorne

Testimonials

I have worked a lot with Dan Hawthorne over the last 4 or 5 years and I have always found him very knowledgeable, but also very commercial and pragmatic in his approach and thinking.’

Mark Stapleton is the tax partner that we generally work with. He is very knowledgeable and fairly practical.’

Deep knowledge and expertise in the asset management sector. The team has the ability to coordinate global projects.’

Mark Stapleton is a very experienced UK and international tax professional advising across a number of corporate specialisms including funds. He combines this with a very personable approach and fast response which is very important in high value time sensitive matters. Dan Hawthorne is similarly very approachable and his clients appreciate his very personal approach to all matters. His experience is similar to Mark’s and further he has particular expertise in employee taxation and incentivisation matters.’

Key clients

Apollo Global Management

Ares

Centaur Media plc

Gravis Capital Management Ltd

Hellenic Telecommunications Organization, S.A.

Polar Capital Holdings Plc

Precisely Incorporated

Swiss Capital

Work highlights

  • Advised Hellenic Telecommunications Organization S.A on the sale of its 54% stake in Romania’s fixed telecommunications operator, Telekom Romania, to Orange Romania.
  • Advised Precisely on the carve-out sale of its Confirm business to Dude Solutions, Inc.
  • Advised specialist active asset management group Polar Capital Holdings plc in connection with the acquisition of 100% of the issued share capital of Dalton Capital (Holdings) Limited.

Mayer Brown International LLP

Mayer Brown International LLP frequently assists clients with the tax aspects of cross-border deals in a variety of sectors. spanning the technology and consumer goods, real estate and financial services industries. James Hill leads the tax team, which includes Simon Rose, who focuses on offshore and international funds in the real estate and private equity sectors. Matthew Mortimer and Kitty Swanson are also noted.

Practice head(s):

James Hill

Other key lawyers:

Simon Rose; Matthew Mortimer; Kitty Swanson

Key clients

British Land

CPPIB

Entertainment One Limited

Beazley plc

L Catterton

Sotheby’s

Shearwater Group Plc

Unilever

CDK Global, Inc.

Link REIT

Work highlights

  • Acted for Sotheby’s, the auction house, on the sale of a minority stake in the company to the former managing partner, co-founder and co-chief investment officer of Senator Investment Group LP.
  • Advised CDK Global, Inc. on the sale of its CDK international segment to Francisco Partners for $1.45bn.
  • Acted for the trustees of the Prudential Staff Pension Scheme on a complex longevity swap transaction with Pacific Life Re Limited covering £3.7bn of pension liabilities.

Morgan, Lewis & Bockius UK LLP

Morgan, Lewis & Bockius UK LLP displays expertise in handling a broad spectrum of tax issues for corporates and investment funds. The team also advises on senior executive remunerations and incentives. Practice head Kate Habershon has a broad corporate tax practice that includes handling M&A, international structuring, private investment fund and tax planning matters. Neil McKnight was promoted to partner in 2020.

Practice head(s):

Kate Habershon

Other key lawyers:

Neil McKnight

Testimonials

MLB Tax have an in depth knowledge of our global structure and funds and therefore are excellently placed to provide constructive knowledgeable advice on a pro-active basis.’

The team very quickly get up to speed with complex technical issues and provide speedy and clear advice and ways forward. They make themselves available at whatever time suits the client dealing with multiple time zones and potentially unsociable times.’

The team we work with (Kate Habershon and Neil McKnight) display a great level of expertise, they are very friendly and amenable but always demonstrate the highest level of professional standards. They make our company feel confident that we have the best team fighting our corner!

The team are very pro-active and want to understand your business so they can give the best possible advice.’

Kate Habershon is a superstar partner, delivering highly technical advice in an easy to understand way.’

Key clients

Lincoln Peak Capital

Duff & Phelps

Heritage Cruise Holding Ltd

TradingScreen Inc

OIM, Equitix

Virtus Partners

MSP Sports Capital, LLC

Work highlights

  • Advised Lincoln Peak Capital on the cross-border tax issues in relation to its investment in RWC Partners, an asset manager based in London, Miami and Singapore with $18bn in assets under management.
  • Assisted Duff & Phelps and its senior executive team with the $4.2bn sale of Duff & Phelps from Permira to a consortium led by Stone Point Capital and Further Global.
  • Represented Heritage Cruise Holding Ltd. and Manfredi Lefebvre d’Ovidio on the sale of the remaining one-third interest in Silversea Cruises, a pioneer and leader in ultra-luxury and expedition cruising, to Royal Caribbean Group (RCCL).

NGM Tax Law LLP

NGM Tax Law LLP is a boutique firm that handles the tax aspects of UK and cross-border M&A, restructurings, private equity deals and capital markets transactions. The team's practice heads are Mark Nichols, Keith Gregory, Simon Meredith and international private wealth expert Stephen Hoyle.

Practice head(s):

Mark Nichols; Keith Gregory; Simon Meredith; Stephen Hoyle

Other key lawyers:

Nigel Davies; David Hinds; Nikhil Mehta