HB&O launches new tax advisory teams

HB&O has launched new tax advisory teams to strengthen its market position and hone the specialist services it provides to clients.

HB&O, which has offices in Coventry and Leamington, has formed the two teams to formalise its service delivery in Transaction Tax Services and Inheritance Tax, Trusts and Estates.  

The company has more than 100 staff and provides comprehensive tax planning, strategy, compliance and advisory services to clients, working primarily with SMEs, not-for-profit companies and owner-managed businesses.

HB&O’s transaction tax team will provide tax planning, strategy and compliance support, from initial planning to post-transaction considerations.

Hands-on support will be offered for statutory clearance and 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.

Neil Allcroft, tax director at HB&O, will be heading up the new team for Transaction Tax Services.

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.”

A driving factor behind the launch of the specialist Inheritance Tax, Trusts and Estates team has been an increase in enquiries following recent Government announcements. The team will be providing a tailored approach on all matters related to tax planning and estates, including support on types of trusts including discretionary trusts, interest in possession trusts and special trusts for minors.

Vanessa Glenn, senior tax manager, 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.” 

Helen Coombes, head of tax at HB&O, added: “This is a formalisation of the work we have already been delivering for clients and will allow us to be more competitive as we continue to grow in existing markets and establish ourselves in new geographies.

“This move will support business growth in these specific tax services and will serve to raise awareness for existing clients that we have experts in these areas. We see advisory as a key growth area for the business and strengthening our offer in transaction tax, inheritance tax, trusts and estates puts us in a strong position for the future.”