Alex Barnes

Partner

Biography

Alex is a partner in the Irwin Mitchell tax group. He advises on the tax implications of a wide range of real estate transactions and related structures including joint ventures, real estate funds and regeneration projects.

He advises investors (UK and non-UK), occupiers and developers both in the private and public sector.

Alex also advises on a wide range of corporate transactions including M&A transactions. He provides tax advice to entrepreneurs, business owners and investors on tax efficient investments and exit planning.

Recent highlights:

  • Caudwell Properties: advised on the tax implications of the acquisition of the Audley Square Hotel, Mayfair for £143m.
  • Mercer Real Estate Partners: provided tax advice on the acquisition of Mitre House, 160 Aldersgate, London for £64m.
  • Gazeley: provided advice on various disposals at Magna Park, Milton Keynes to various purchasers including Aviva and John Lewis.
  • Resolution Property: advised on the tax implications of the acquisition of the corporate vehicle owning the Great Northern Warehouse for £71.1m.
  • Advised on the acquisition of a UK headquartered international manufacturing business for a US family office for £12m.

Read My Comments On The Latest News

  • 27/05/2016
    HMRC Loses Multi Million Pound Chelsea Barracks Tax Appeal

    “This result could, subject to any further appeal, lead to a loss of further revenue if other taxpayers challenge HMRC over similar matters. This is not good news for the Treasury and its edict to collect as much tax as a possible from property transactions. “It remains to be seen whether HMRC will appeal this decision - I suspect it will.”

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  • 16/03/2016
    Budget 2016: Chancellor Pledges New Rates For Commercial Stamp Duty

    “The Budget 2016 is one that many small businesses, the self-employed and entrepreneurs will welcome. But big businesses, particularly those in the property industry are however unlikely to view the Budget favourably.” “Despite the proposed cut to corporation tax, SDLT on large commercial property transactions will increase, in some cases significantly especially for investors in London and the South East. If interest relief is cut, this could have a dramatic effect on the UK property industry which relies heavily on debt funding.” “The commercial property industry is an easy target for the Chancellor given its attractiveness over recent years. However, this may, like the high end residential property market now stall, leaving the Chancellor’s expectations of an extra £500 million a year more wishful thinking. Ultimately it may lead to a decrease in tax revenues, leaving a bigger hole for him to fill going forward.” “The Chancellor appears to have failed to recognise the contribution the commercial real estate industry has made to his coffers over recent years.”

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  • 16/03/2016
    Budget 2016: Osborne Cuts Corporation Tax By 17 Per Cent

    “The Chancellor has again stuck the boot into tax planning implemented by multi-national companies.” “This will make it much harder for them to shift profits offshore outside of the UK tax net and may encourage such companies to re-locate to the UK, particularly given the proposed reduction in corporation tax.” “The big question is - will this help the Chancellor to re-balance the books in the long term?” “The reduction on Capital Gains Tax (CGT) will be generally be welcomed albeit it is questionable how this will help the large majority of the UK population who have few assets on which CGT could be payable.”

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  • 08/05/2015
    Election 2015: Impact On Tax

    "A win by the narrowest of margins but the Conservative party won’t care. The electorate have spoken and in large part it is no doubt the Tories record on the economy that has helped to lead them to victory. So what can we now expect in respect of tax for the next five years? "The Conservatives pledged not to raise income tax, NICs or VAT until 2020 in their pre-election manifesto and David Cameron said this "five-year-tax lock" would be enshrined in legislation. Whether this was an empty pre-election promise remains to be seen but many have warned it could undermine Britain's fiscal credibility. "Aggressive tax planning is going to continue to be targeted including ensuring global companies pay their ‘fair share’ of UK tax and whilst non-doms can breathe a sigh of relief that the Labour party have not got in, they cannot rest easy as the Tories have made it clear they intend to increase the remittance based charges applicable to non-doms and to tackle other ‘tax abuses’ committed by non-doms. "Bankers will continue to be targeted as the bank levy will remain and only time will tell whether this will cause more global banks to relocate outside the UK as HSBC are currently considering. "For property investors/owner occupiers, the Tories have pledged to set a new ‘significantly higher level’ for the capital allowances annual investment allowance and there is of course the on-going review of business rates with a report on this hopefully appearing in the 2016 Budget. "Whether all or any of the pre-election pledges made by the Conservative party actually materialise remain to be seen. Many promises are made pre-election that come to nothing. Businesses in general are in the short term likely to be relieved the Tories have been re-elected. There is now however the EU referendum looming which will create uncertainty for many businesses and ultimately may have a negative impact on them."

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