Richard has extensive in-depth experience of tax mitigation techniques, in particular in the areas of asset and loan finance, mergers and acquisitions and corporate and trust structures, both onshore and offshore. In the 1980s he negotiated with the Inland Revenue on tax mitigation schemes devised by the Rossminster Group and others, and appeared in the courts, including the Court of Appeal, both for and against scheme providers. He also has experience of appeals against Council Tax decisions and advocacy before the Special Commissioners, the VAT and Duties Tribunal and the Tax Tribunal which has superseded them. He is an accomplished draftsman of tax-efficient trusts, wills, company documentation and commercial contracts. He is also qualified as a Fellow of the Chartered Institute of Taxation (where he serves on the International Tax and Corporate Tax Technical Committees), a member of Revenue Bar Association, and of the International Tax Planning Association. During the last UK Labour government he was a member of the Shadow Treasury Team’s Panel of Tax Experts.
Banking and Capital Markets
Richard was formerly Head of Tax and Accounting at the Finance and Leasing Association and made representations to the Inland Revenue and H M Customs and Excise on successive Finance Bills. While at Price Waterhouse in the mid-1990s, Richard was in the International Structuring Team and advised Compaq on the securitisation of its UK computer lease portfolio. He was part of the team auditing Lloyds and Barclays Bank and the US financial conglomerates, GE and Prudential Bache.
Mergers and Acquisitions
Richard advised in high-profile, high-value M & A transactions, such as the sale by Sea Containers of the Isle of Man Steam Packet Company and the purchase by Ford of Land Rover. While Head of Tax at City firm Richards Butler he was involved in high-value property transactions for Land Securities Trillium, as well as many major private company acquisitions. Most recently, he has spent much of his time on sales and purchases of owner-managed companies, a significant client being the Cooperative Society.
Richard has recently been senior independent director of the Nottingham Friendly Assurance Society Limited and Chairman of the Audit, Remuneration and Nomination Committees. He has represented financial advisers before regulatory tribunals and is a member of the Financial Services Lawyers’ Association.
During the course of his career Richard has undertaken a wide variety of civil litigation, with concentration on landlord and tenant, building contracts, boundary and easement disputes, town and country planning, company governance and winding-up and contentious probate.