Azets has acquired Milne Craig, a century-old chartered accountancy and wealth management firm based in Paisley, Scotland. The acquisition, for an undisclosed sum, adds over 90 staff to Azets, enhancing its services across accounting, tax, audit, corporate finance, payroll, and wealth management. Milne Craig’s managing director, David Nairn, will continue as a partner at Azets. This deal provides Milne Craig’s 2,000+ clients with broader access to advice and services, both within the UK and internationally. The acquisition is seen as mutually beneficial, offering growth opportunities for employees and expanded services for clients.
Karen Chadwick, a tax expert at Hurst, warns that potential changes to inheritance tax (IHT) under the upcoming Labour budget could harm the UK economy by discouraging entrepreneurs. Speculation suggests that business relief on IHT, which currently allows up to 100% relief on company assets, may be targeted, resulting in higher tax burdens on business owners. Chadwick argues that removing or restricting this relief could stifle business growth and drive entrepreneurs out of the UK. Additionally, potential changes to pension tax relief could further complicate savings for the future, particularly for higher earners.
UHY Hacker Young has relocated to a new office in central Chester as part of its growth strategy. The firm’s Chester team is known for advising pharmacy businesses, independent financial advisers, and various other sectors across the UK. The move aims to expand the firm’s presence and client base, with plans to increase headcount and potentially acquire other accountancy practices in the area. Richard Smith, a long-time employee, has been appointed as the new director of the Chester office, where he will focus on auditing, training, and internal operations to support the firm’s continued growth.
