We tell you what we think you need to know: sometimes it saves you money.

A successful entrepreneur and his business partner set up a new business venture. Their accountant was brought in to advise them on a scheme to raise money from a number of high net worth individuals, to approve a memorandum about the new venture and to advise them on any taxation aspects of the deal. When partner Andrew Harrison reviewed the scheme they proposed, he thought the founders might be exposing themselves to a substantial income tax liability and suggested it be revised. He asked the opinion of a leading tax barrister who agreed with him.

The scheme was restructured, saving our client a great deal of money.