Our team was chosen in a competitive tender process to undertake a review of the structure of a large independent retailer. The client saw the value in choosing a firm with a national reach and a solid grasp of their structure, coupled with retail advisory experience. The business had grown over several decades and had a complex structure, which the group’s bankers found confusing. This led to protracted negotiations over facilities renewal.
The corporate finance and tax teams reviewed the structure and proposed a rationalisation strategy which would make banking easier, the business simpler to administer and satisfy the cash requirements of the owners in a tax efficient way.
We were subsequently asked to take over the audit and tax affairs of the business and to look after the tax affairs of the family, showing how our collaborative approach and sector-specific knowledge helps us to best meet the needs of our clients.
The Chancellor announced a number of changes which bring consistency to corporate tax. The unexpected announcement of digital services tax is the latest in a raft of measures aimed at levelling the playing field for UK companies competing against the global 'tech giants'