International law firm Simmons & Simmons has launched a new online tax subscription service designed to help clients in the asset management & investment funds and financial institutions sectors when structuring and marketing funds.
The service, ‘Simmons & Simmons navigator: product tax’, is also the firm’s first online tax venture, as well as the third new navigator product the firm has launched since October this year. This service comes shortly after the recent launch of the firm’s MiFID2 Manager online tool earlier this month.
Over 100 clients of the firm have already expressed interest in navigator: product tax since exclusive trials and demonstrations were given at the firm’s Annual Financial Institutions and Asset Management & Investment Funds Sector Autumn Legal Update hosted in October.
navigator: product tax provides information in a consistent and standardised format on the key aspects of the domestic taxation of individual investors resident in ten key jurisdictions on returns from investing in five common fund types. Building on the success of the existing suite of navigator services, it is a cost-effective alternative to bespoke tax advice, designed to put users in control of the level of service they receive. The service will be updated quarterly and is available online 24/7.
navigator: product tax is ideal for anyone structuring and marketing funds intended for investors resident in key jurisdictions across Europe, the US and Japan. Its focus on distilling the key information clients need to know about the tax factors affecting an investor’s choice of fund investment makes it a useful tool for tax and non-tax experts alike.
Martin Shah (pictured), tax partner and leader of the financial services tax practice in London, says: “The service has evolved from our work with clients on significant cross-border international tax surveys and in response to our clients’ requests for information that is tailored, straightforward and practical. All of which are notable traits of our tax team’s approach, in an instantly accessible and cost-effective format.”
Financial services regulatory partner Charlotte Stalin, who leads the firm’s navigator online services products, says: “The development of navigator: product tax reflects our commitment to innovation and creating value for our clients by using technology to deliver legal services differently.”
