One minute with... Justine Delroy, head of commerical tax at Addleshaw Goddard
What’s in your in-tray?
A particularly large number of private equity deals (there seems to have been a post-Brexit flurry), a piece of thorny VAT advice in relation to lease financing, an energy sector JV, a pitch for a big funds job and the usual diet of institutional property acquisitions.
What caught your eye in the Finance Bill?
The new rules for offshore developers of UK real estate. These will potentially impact quite a few of our clients, although I’m inclined to think that the rationalisation of the tax treatment of UK property development is long overdue.
If you could make one change to UK tax law, what would it be?
Given the stated intention of Parliament and the Treasury to simplify tax law, I find parts of the SDLT legislation particularly frustrating. I do a fair bit of advice and structuring for complex property transactions – forward fundings, joint ventures, partnership arrangements and the like – and the SDLT rules are never straightforward. Not only do they seem ill-equipped to cater for real life transactions, but also a number of the provisions at best don’t work together and at worst contradict each other. Typical of this are the partnership provisions, and particularly their inadequacy for multi-tiered partnership arrangements.
Comment on a recent development in tax.
The consultation around sanctions and deterrence for those who ‘facilitate’ tax avoidance arrangements. I have full support for measures targeted at ‘peddlers’ of tax schemes, but the proposals seem disproportionate. The real concern is that in the noise of understandable outrage at some tax avoidance behaviour, the rational voice calling for checks and balances gets drowned out. It’s striking that on the one hand the proposals suggest that taxpayers who don’t take independent advice may be more heavily penalised, whilst on the other hand advisors will be reluctant to provide that advice lest they fall foul of the rules.
You lead Addleshaw Goddard’s gender working group. Can you tell us a bit about the group?
We set up the group a few years ago, to focus on retaining and developing women in the business, with the ultimate goal of more female partner promotions and a 25% female partner target. We introduced a female development programme (‘Flourish’) which after five years has been attended by large numbers of our female associates, as well as in-house lawyers at our clients. The programme gets great feedback every year, and I’m really proud of the impact it’s had on the women who have attended. We’ve also introduced ‘new parent lunches’ (the clue is in the name) and female networking events. We hit our partner target last year, and so have set the bar higher for the next period.
What is the most challenging tax problem you have faced recently?
I’ve been doing a job recently advising a major ‘adult entertainment website provider’ on the VAT treatment of their cross-border services and UK permanent establishment issues. It’s not especially technically challenging, but it raises the odd eyebrow.
What do you consider to be a highlight from your career to date?
Until recently, my promotion to partner was the highlight. But our recent re-appointment to the legal panel for Standard Life Investments (for which I am one of the client relationship partners) has topped even that.
Finally, you might not know this about me but …
I am at my happiest up a mountain. My secret passion is fell-running, sometimes ultra-distances…
One minute with... Justine Delroy, head of commerical tax at Addleshaw Goddard
What’s in your in-tray?
A particularly large number of private equity deals (there seems to have been a post-Brexit flurry), a piece of thorny VAT advice in relation to lease financing, an energy sector JV, a pitch for a big funds job and the usual diet of institutional property acquisitions.
What caught your eye in the Finance Bill?
The new rules for offshore developers of UK real estate. These will potentially impact quite a few of our clients, although I’m inclined to think that the rationalisation of the tax treatment of UK property development is long overdue.
If you could make one change to UK tax law, what would it be?
Given the stated intention of Parliament and the Treasury to simplify tax law, I find parts of the SDLT legislation particularly frustrating. I do a fair bit of advice and structuring for complex property transactions – forward fundings, joint ventures, partnership arrangements and the like – and the SDLT rules are never straightforward. Not only do they seem ill-equipped to cater for real life transactions, but also a number of the provisions at best don’t work together and at worst contradict each other. Typical of this are the partnership provisions, and particularly their inadequacy for multi-tiered partnership arrangements.
Comment on a recent development in tax.
The consultation around sanctions and deterrence for those who ‘facilitate’ tax avoidance arrangements. I have full support for measures targeted at ‘peddlers’ of tax schemes, but the proposals seem disproportionate. The real concern is that in the noise of understandable outrage at some tax avoidance behaviour, the rational voice calling for checks and balances gets drowned out. It’s striking that on the one hand the proposals suggest that taxpayers who don’t take independent advice may be more heavily penalised, whilst on the other hand advisors will be reluctant to provide that advice lest they fall foul of the rules.
You lead Addleshaw Goddard’s gender working group. Can you tell us a bit about the group?
We set up the group a few years ago, to focus on retaining and developing women in the business, with the ultimate goal of more female partner promotions and a 25% female partner target. We introduced a female development programme (‘Flourish’) which after five years has been attended by large numbers of our female associates, as well as in-house lawyers at our clients. The programme gets great feedback every year, and I’m really proud of the impact it’s had on the women who have attended. We’ve also introduced ‘new parent lunches’ (the clue is in the name) and female networking events. We hit our partner target last year, and so have set the bar higher for the next period.
What is the most challenging tax problem you have faced recently?
I’ve been doing a job recently advising a major ‘adult entertainment website provider’ on the VAT treatment of their cross-border services and UK permanent establishment issues. It’s not especially technically challenging, but it raises the odd eyebrow.
What do you consider to be a highlight from your career to date?
Until recently, my promotion to partner was the highlight. But our recent re-appointment to the legal panel for Standard Life Investments (for which I am one of the client relationship partners) has topped even that.
Finally, you might not know this about me but …
I am at my happiest up a mountain. My secret passion is fell-running, sometimes ultra-distances…
