Firm Launches First of its Kind Legal Tax Service -Simmons & Simmons navigator: product tax

01 Dec 2015

International law firm Simmons & Simmons has launched a new online tax subscription service, the first of its kind to be offered by a law firm, 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, tax partner and leader of the financial services tax practice in London, commented: "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, continued: "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."                                                                                                         

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Notes to editors:

1. We are a leading international law firm with fully integrated teams working through offices in Europe, the Middle East and Asia, and bring experienced professionals to some of the most active growth markets today. Our focus on a small number of sectors means we are able to understand and respond to our clients’ needs. Our industry sectors are: Asset Management & Investment Funds, Financial Institutions, Life Sciences and Telecoms, Media & Technology (TMT). We also focus on the E&I market, in particular through our international projects and construction teams. We have a track record for innovation and delivering value to clients through new ways of working.

2. Simmons & Simmons is an international legal practice carried on by Simmons & Simmons LLP and its affiliated practices. Accordingly, references to Simmons & Simmons mean Simmons & Simmons LLP and the other partnerships and other entities or practices authorised to use the name “Simmons & Simmons” or one or more of those practices as the context requires. The word “partner” refers to a member of Simmons & Simmons LLP or an employee or consultant with equivalent standing and qualifications or to an individual with equivalent status in one of Simmons & Simmons LLP’s affiliated practices. For further information on the international entities and practices, refer to simmons-simmons.com/legalresp

3. Visit our website at simmons-simmons.com or our award-winning online legal service at elexica.com.

4. Simmons & Simmons navigator: product tax has been produced by Simmons & Simmons’ award-winning international tax group. The content for Japan, Switzerland and the US has been produced in association with TMI Associates, Lenz & Staehelin and Seward & Kissel respectively.

5. Simmons & Simmons navigator is our sector-leading online subscription service, covering key areas of financial services and tax regulation. Since 2007, Simmons & Simmons navigator has provided cost-effective access to user friendly, comprehensive and regularly updated information regarding the key regulatory and tax issues. Available on a subscription basis, navigator is available through elexica, our award winning online legal resource, providing 24/7, global access. Click here to find out more about our suite of navigator products.

6. For further information, please contact Heather McMaster, Senior Communications & PR Executive on +44 20 7825 3962 or at heather.mcmaster@simmons-simmons.com, or Lauryn Mann, Communications & PR Executive on +44 20 7825 3764 or at lauryn.mann@simmons-simmons.com