experience and expertise

Horten’s tax department is a dedicated team that provides in-house tax advice, especially within M&A, banking and finance law, real estate, corporate commercial, public law and employment law. The team also advises a large number of stand-alone clients, including Danish and international enterprises, banks, pension companies, pension funds and property companies, Danish municipalities and municipal supply utilities, private equity funds and (primarily wealthy) individuals.

We combine business understanding with in-depth professional knowledge and ensure as professional and innovative advisers that our clients obtain the best possible basis for making and implementing commercial decisions. We tailor our advice to the needs of the individual client and always seek simple and operational solutions which add value to the client and are easy to understand.

The tax team advises on all matters relating to taxes and duties, but holds a market-leading position within the focus areas mentioned further below.

The team was very knowledgeable and easy to work with. Communication was very good between their team and ours. The value for what we spent versus the outcome was extremely favourable and well worth the fees we paid.

Chambers, 2018

The team 'always manage to provide a clear-cut and pragmatic answer'.

Chambers, 2018

Everything has been absolutely perfect: very professional, very quick. They are always very positive and always want to help.'

Chambers, 2018

They are co-operative, productive, straightforward and goal-oriented.

Chambers Europe, 2017

I have been very impressed with their understanding of international matters and legal principles, which also gained respect from the counterparty and created a constructive negotiation environment.

Chambers Europe, 2017

What we do

  • Purchase and sale of companies/M&A

    Correct tax management is decisive in all forms of transactions. Horten’s tax team has many years’ experience as an innovative adviser to our clients in all phases of M&A.

    We advise both in connection with very large Danish and foreign M&A transactions and in connection with a number of small and medium-sized transactions.

    On the seller side, our advice comprises optimisation of the seller’s and the management's tax position in connection with sale and reinvestment, vendor financing, review of sales agreements, bonus and incentive programmes, contact with tax authorities, etc.

    On the buyer side, we advise on the structuring of acquisitions and finance, tax due diligence investigations, structuring reports and cash flow statements, carry taxation of capital fund partners, review of purchase agreements, bonus and incentive programmes, contact with tax authorities, etc.


  • Tax procedures and binding rulings

    Horten’s tax team advises on tax procedures at all levels. This may be in the initial dialogue with SKAT in a tax audit, appeals against SKAT’s decisions with the National Tax Tribunal and conducting tax cases before the District Courts, the High Courts and the Supreme Court.

    Our advice within tax procedures includes cases concerning tax, VAT and duties.

    We also assist with obtaining binding rulings and handling the procedure, including the negotiations with SKAT and process management, appearing before the National Tax Board (if relevant) and handling a subsequent appeal case concerning the binding ruling.

  • Incentive pay

    Horten advises on all forms of incentive pay and assists with structuring, drafting and implementing incentive programmes. Our team has wide experience within both share-based compensation (shares, warrants and options) and cash compensation (phantom shares, bonus, etc.).

    We have practical experience within all types of enterprises - from listed companies and venture portfolio companies to small companies. We focus on providing comprehensive advice where tax does not stand alone, but includes other relevant practice areas, including company law, employment law, financial regulation and securities law.
     

    We assist with valuations in connection with grant, exercise and sale of share instruments - also in cooperation with the company's auditor or external valuation experts depending on the specific situation.

  • Tax insurance

    Horten’s tax team advises on both the tax aspects of transaction insurance (W&I) and insurance products uncovering isolated tax-specific risks.

    In recent years, we have advised insurance companies in a number of high-profile cases on e.g. withholding tax obligations.

  • Purchase and structuring of real estate

    Horten’s real estate and construction team is among the largest and leading real estate teams in Denmark. Our tax team is an integrated part of the real estate and construction team and provides tax advice on the selection of buyer structure, tax optimisation and purchase of Danish real estate and planning of optimisation in connection with subsequent sales.

    We have in-depth knowledge about the VAT challenges in connection with purchase, sale and development/construction

    of real estate and have acted as advisers to major players on the market in the majority of the recent development projects in the Copenhagen region.

    Our advice also includes optimisation of Danish registration tax in connection with sale of real estate.


  • The financial sector

    Horten’s tax team has in-depth knowledge about the regulatory rules within the financial sector and their interaction with the tax rules in the area. We have assisted a number of financial companies with implementing incentive programmes that are tax efficient and comply with the regulatory rules of the Financial Business Act. 

    We also assist with the drafting of prospectuses concerning financial products and in connection with Danish tax qualification of Danish and foreign financial products.

  • Generational succession

    Horten’s tax team has many years' experience advising on ownership transfer in connection with generational succession. We advise on all phases of ownership transfer and implement and manage the process from A to Z.

    Our advice includes identification of the best tax models for the ownership transfer and the more detailed planning and structuring of the ownership transfer. It is essential to ensure that the selected model is correct, and, as part of the clarification phase, we always prepare a resolution proposal with simulation of potential savings in connection with the ownership transfer to highlight the various tax optimisations at an early stage of the process.

    We also advise on the financing of ownership transfers in connection with generational succession, including by gift, debt and operations (dividend) and assist with valuation of companies - if required, in cooperation with the company’s auditor or external valuation experts depending on the specific situation.

    We also assist with obtaining tax permissions and approvals related to generational succession.

    Our advice within ownership transfer in connection with generational succession is comprehensive and includes aspects of inheritance law and other related practice areas.


our team

Niclas Holst Sonne

Partner

Anne Becker-Christensen

Senior Attorney

Ulrik Krogh Holst

Senior Attorney

Jakob S. Arrevad

Attorney

Malte Søgaard

Attorney

Katrine Pristed Michaelsen

Assistant Attorney

Signe Johanne Helbo

Assistant Attorney