Parisi Tax LLP

Parisi Tax advises entrepreneurs and private companies on the whole spectrum of tax issues relevant through the life cycle of their businesses.

The firm: Parisi Tax LLP was founded in 2009 by Lisa Stevenson. Becky Rees joined as a partner in 2011. The firm has since grown to include Liz Morgan, Jennie Newton, Jamie Chambers and Jon Robinson.

The team at Parisi is known for its excellent technical skills, and for being extremely commercial and providing creative solutions for clients in a user-friendly way. In addition to advising clients, the firm also provides consultancy services to other professionals such as law firms and accountants who may not have this specialist capability in-house – through its involvement, advisers can provide a broader service to their clients without the need to refer the work away.

There is a huge opportunity for the firm to grow over the next few years, with a large quantity of good-quality tax work to aim for. It will continue to recruit high-calibre tax professionals to keep up with its growing business.

Types of work undertaken: Parisi Tax advises on tax aspects of all M&A deals, EIS and SEIS, share incentive plans, property tax, reorganisations and private equity, as well as start-ups and new investments; buy-outs and secondary buy-outs; employee incentives; profit extraction and executive remuneration; pre-sale tax planning; tax issues on company sales and acquisitions; personal tax issues for shareholders; succession issues; and company reorganisation and rationalisation.

Work undertaken in the past year includes advising on the availability of SEIS/EIS on a number of start-up businesses and acquisitions of existing businesses; advising numerous private companies on a variety of EMI option and ESS arrangements; advising on the tax treatment of sellers on the sale of a medical research company for consideration of up to £42.5m, involving many different categories of sellers including EIS sellers, EMI option holders, sellers with entrepreneurs’ relief and unapproved option sellers; advising on a growth-share incentive arrangement put in place before the sale of a company, including advising on the interaction with the earn-out payments; advising on the best way to structure the acquisition of a residential property to be developed and sold (the team advised on the SDLT, VAT and direct tax issues of the structure); providing Big Four accountancy firms with tax support on tax deeds and tax warranties on many M&A transactions; advising on group reorganisation and equity incentive arrangements for a record company; advising management shareholders on the sale of a large procurement business to a quoted group and assisting with the design of their new share incentive arrangement in the buyer; advising a law firm partnership on a reorganisation of structure with a view to incorporation in readiness for expansion and potential outside investment; advising a number of management teams in the sale of their shares and roll over into the private equity-backed buyers; advising a large private company and its shareholders on a demerger of part of the business prior to sale and a reorganisation of the family’s shareholders to maximum entrepreneurs’ relief; advising a large private company with around 20 family shareholders on the tax issues for the shareholders connected with the proposed sale; assisting the London office of a US law firm on the tax covenant and tax warranties on a large cross-border transaction acting for the Greek selling company; advising a council on acquisition of a shopping centre, including advice on the TOGC treatment, the SDLT and capital allowances; and advising a number of high-net-worth individuals on tax residence issues.