Stewart and Stewart Ltd

Stewart and Stewart Ltd is a small firm of Chartered Accountants based on the Black Isle, 10 miles north of Inverness. The firm specialises in accounts preparation and tax advice for small and medium size businesses throughout the North of Scotland and can assist with accounts, payroll, VAT and Tax Returns.

Senior Tax Manager, Margi Campbell said:

“We are a general practice with a lot of clients in the agriculture and fishing sectors as you would expect from our location. We act for a lot of family businesses and as these evolve and grow they can create a lot of complex issues that need specialist advice.
“Francis Clark Tax Consultancy provides us with support across a broad range of tax issues, including company re-organisations and employment related securities.”

Recent work undertaken by FCTC on behalf of Stewart & Stewart has included:

• Advice on share purchase by employees and the effect for transactions with security legislation and the requirement for form 42.

• Advice on restructuring a company with two trades to better protect the assets from one part becoming tainted by any issue with one of the trades and to protect the assets if this did go wrong. FCTC provided a step plan for restructure and this is still ongoing.

• FCTC helped to review the structure of a business when a secondary trade had grown out of being insignificant within it. They advised on the best way to restructure without it becoming too onerous or creating issues with HMRC – the plant had to be transferred at tax written down value.

Margi Campbell added:

“As a firm we are very proactive in looking after our clients and checking all their affairs over and above compliance requirements. This often generates new work and exposes complicated tax issues which would prompt us to call on Stuart Rogers and his team for advice. FCTC also has strength in depth and if there is an issue not in Stuart’s remit such as IHT or agriculture, there will be a colleague who can help us.

“When we call on FCTC for advice, we tell our clients that we consulting with a third party to help us find a solution for their situation. The guidance we get is invariably clear with practical explanations which are client-friendly. This, along with FCTC’s undoubted quality of advice, adds real value to our client service.”

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