Malcolm Frost

Full Profile

Malcolm is a Partner in the UK Tax Team, based in London. He is a tax specialist barrister and Chartered Tax Adviser. He was called to the Bar in 2008.

Described in the Legal 500 as having “a brilliant sense of judgement”, Malcolm is able to quickly get to grips with novel and complex legal points and propose practical, commercially driven solutions.

Malcolm has a broad-based tax practice, it includes tax disputes work as well as advising on M&A transactions, corporate structuring and real estate taxation. He has written a number of articles for specialist journals including British Tax Review and The Journal of International Tax, Trust and Corporate Planning. He is a member of the Property Taxes Committee of the Chartered Institute of Taxation.

Before joining Clyde & Co, Malcolm practiced at HMRC where he dealt with complex, high value and high-profile disputes.

Malcolm sits as a fee-paid judge of the Tax Chamber of the First-tier Tribunal.

Experience

• Tax Disputes - Hunt v HMRC – Junior counsel in successful appeal against HMRC’s refusal of capital gains tax relief for a £17m guarantee payment made in respect of a loan
• M&A - Advised on the tax aspects of the sale of a large international plant-based dairy alternatives concern for circa €450m
• M&A – Advising on the £40m sale of a chain of skin therapy clinics to a private equity investor
• Cross-border taxation - Advising on the tax implications of cross border sales and leasing of high-value construction equipment. Including VAT, customs duties and withholding tax issues as well as permanent establishment implications.
• Cross-border taxation – Advising a US airline on the acquisition of lease aircraft and engines
• Tax Disputes – Conduct of First-tier Tribunal appeal relating to £2m landfill tax assessment
• Tax Disputes – Advising on a dispute with HMRC relating to a 39m loan relationship assessment. Assessment withdrawn.
• Insurance - Advising on the sale of 100% of the shares in full-service international reinsurance broker Capsicum Re by global insurance broker, Gallagher
• Real Estate Taxation - Acting for Grainger Residential on tax aspects of a Grainger/TFL joint venture to provide over 3,000 new homes in London.
• Professional disputes – Advising a law firm on a potential negligence claim arising out of the pre-pack sale of a major high street clothing retailer
• Trade taxation – Advising a trade body on import tariff rules post Brexit
• Professional disputes – Advising on a tax professional negligence claim against a magic circle law firm
• Tax Disputes – Successfully persuading HMRC to cancel a £3m anti-dumping duty liability assessed on an importer of solar panels
• Employment taxation – Advising a flag carrier airline on a large-scale employee secondment project