Walbrook Launches Tax Advisory Service

by Jason Gorringe, Tax-News.com, London

10 June 2004

Fiduciary services firm, the Walbrook Group has launched an independent tax advisory service in response to the UK Treasury's increasing focus on tax avoidance.

Walbrook Tax Advisers will operate as a separate division within the Group, which has offices in the Channel Islands and the Isle of Man, and aims to provide specialist tax advice to both institutional and private clients.

Initially, the firm intends to market its services to trust companies and professional intermediaries in the three jurisdictions.

Explaining the reasoning behind the move, chief executive of the Walbrook Group, Bryan Dix observed that:

"The March Budget reaffirmed the Chancellor's commitment to reduce tax avoidance and modernise the UK tax regime. This is increasing the requirements on service providers in ensuring schemes they promote or administer are watertight."

He went on to add that:

"Tax expertise is therefore increasingly important and firms who do not have this expertise in house will need to look to specialist independent advisers."

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