18 Jul 2012
18 Jul 2012 Nicolson Accountancy 0
Aqualife Services Ltd offers a labour intensive fish vaccinating service to the Norwegian and Scottish aquaculture industries.
The company’s head office is in Stirling, Scotland with a satellite office in the North of Norway.
For many years the company struggled with complying with Norwegian corporate and employee tax and insurance laws and the integration of these with UK tax laws. These difficulties resulted in the Company being subject to a Norwegian tax bill of almost £1.2 million dating back to 2007 and made up of tax already paid to the UK exchequer and penalties for non payment.
These problems were compounded by the fact we had a Norwegian accountancy firm and a large Scottish accountancy firm working for us and communication between the two was difficult. Our Scottish firm claimed that they had close associations with overseas accountancy firms through the Moores Stephens organisation but in reality the association didn’t work and the UK firm much as they said they were interested in doing overseas work in actual fact were only really interested in the UK stuff that they knew.
After suffering this situation for 2 years and in some desperation we contacted Nicolson Accountants through their website.
What a breath of fresh air! They don’t hide behind international organisations like Moore Stephens. They get out there and find out how things actually work on the ground. They understood the problems we were having and helped formulate a plan of attack to try and get round them. For the first time in years we were able to actually be proactive in addressing our problems. But not only that, Nicolsons took over the day to day running of our Norwegian accounts and took over as our UK accountants and for the first time in 16 years we were able to properly integrate our UK and Norwegian operations giving us the perfect platform to really grow our business.
I cannot recommend the personal service and ability to rise to any challenge that Sue and Angus offer us enough. Like us they are building a dynamic, strong business so they know exactly where we are coming from. That is truly powerful and so refreshingly different from some of the big guys in Scotland today.
And the tax case? Well with all the help from Nicolson’s our liability went from £1.2 mill to zero. It doesn’t get much better that that!
Gordon Jeffrey Director, Aqualife Services Ltd Stirling and Norway July 18, 2012