Accountancy firm HB&O has established two dedicated teams to streamline its service offerings in transaction tax services and inheritance tax, trusts, and estates.
The new Transaction Tax Services team will focus on providing expert tax planning, strategy, and compliance support.
This includes services from initial planning through to post-transaction considerations.
The team will also offer support for statutory clearance, stamp duty relief applications, corporate reorganisations, exit planning, tax structuring for business sales and purchases, tax and financial due diligence, business valuations, and capital gains tax planning.
HB&O tax director Neil Allcroft will lead the newly formed Transaction Tax Services team.
Allcroft said: “This new team brings together experts from across HB&O under one unified banner, which will allow us to focus our expertise in the transaction tax area and deliver a more comprehensive service for clients.
“Our target is to grow our market presence and grow our reputation with external third parties to increase referrals coming into the business. We have always delivered this type of work, but this move formalises the offer and internally will give our team a new area of specialism to aid their personal career development.”
In addition, the Inheritance Tax, Trusts, and Estates team, will be led by senior tax manager Vanessa Glenn.
It will focus on offering specialised tax planning services related to estates and trusts.
This includes guidance on various types of trusts, such as discretionary trusts, interest in possession trusts, and special trusts for minors.
Glenn said: “We are looking at identifying and bringing in clients that need their financial affairs reviewed, with a view to mitigating inheritance tax. A key factor behind this has been the changes from the last Budget.
“It is also to educate people and encourage clients to seek advice on estate planning early. We generally have people approach us in their 70s and by that stage many key opportunities have been missed. We have been dealing with trust compliance and inheritance tax for a while, but now we have the right team in place we are looking to make a concerted effort to drive that area of the business.”
With a team of more than 100 staff, HB&O works with SMEs, not-for-profit companies, and owner-managed businesses, providing tax planning, strategy, compliance, and advisory services. It has offices in Coventry and Leamington in England.
