Other Financial Services

Friend Partnership provides many specialist services to clients, including corporate recovery and turnaround, forensic accounting and advising on cross-border transactions.

Knowledge Base

Where we share our
in-house expertise
directly with you

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Knowledge Base

Where we share our
in-house expertise
directly with you

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Financial Services

If you have any questions about other services that you may require but which have not been separately identified elsewhere on our website, please don’t hesitate to call us to discuss your requirements, as it is highly likely that we will be able to help you in some way.

Corporate recovery and turnaround

Friend Partnership provides a wide variety of corporate recovery and turnaround services to companies, their management teams and shareholders, and financial institutions. Our role can take many forms, from a hand-holding exercise during difficult times to a comprehensive business review, restructuring and refinancing.

We pride ourselves on providing professional, insightful advice to underperforming and financially distressed businesses

We offer independent, objective and high-value business advice to our clients, acting as an independent trusted advisor.

Our team comprises highly experienced individuals from diverse backgrounds, making them well placed to advise businesses in these situations. Friend Partnership advise and assist on implementing appropriate turnaround solutions.

Working with management teams, we ensure that there is a workable roadmap in place to achieve an improvement in operating and financial performance. Our advice may involve:

Financial restructuring, fundraising and refinancing of debt and equity structures

Business disposal, ideally through a trade sale – but unfortunately sometimes administration is the only option

Change in management, often with an interim turnaround expert brought in to stabilise situations

Friend Partnership understand each situation requires its own bespoke solution and will often be a combination of many initiatives.

Cross border and emerging markets

Friend Partnership has expertise in assisting overseas companies that wish to establish a business in the UK. We have clients whose principal locations are in North America, Western Europe, India, China and Australia.

Our inward investment services include the following:

Company formation and registration with tax authorities

VAT & customs duty advice

Preparation of statutory
financial statements

Accounts outsourcing

Preparation of VAT returns

Corporation tax compliance

Transfer pricing advice

Advice for expatriates
working in the UK

Statutory and non-statutory audits

Payroll services

Personal tax compliance

Assistance with grant
applications

If you would like to find out more about our cross borders and emerging markets services and how we can help you get in touch today.

Friend Family Wealth Forum

The Friend Family Wealth Forum provides advice to individuals on how to structure and protect family businesses and wealth and ensure smooth succession and estate planning.

The advice provided as part of the Forum aims to provide expert opinion and continuous support that will allow you to focus on maintaining and increasing your family’s wealth, secure in the knowledge that what you have worked so hard for is shielded and that yours and your family’s future is provided for.

As part of the Friend Family Wealth Forum service we can advise on:

Structuring your business and investment portfolio

Estate planning

Change in management, often with an interim turnaround expert brought in to stabilise situations

Structuring family company shareholdings

Inheritance Tax

Will planning

View our Friend Family Wealth Forum Brochure

View our Vlog which explains why we have set up the Forum and how it can help family businesses. 

Please contact David Gillies if you would like more information about the Friend Family Wealth Forum, or if you would like to generally discuss your business or personal plans

Forensic accounting and litigation support

Our forensic accounting experts have worked with businesses across the UK, covering numerous forms of disputes in many sectors of industry and the professions. We aim to help disputes be resolved quickly by providing independent, clear and cost-effective reports.

Our service covers, amongst other things, financial investigations, partnership disputes, consequential loss, business and share valuations and matrimonial disputes.

Litigation Support

Friend Partnership has over 20 years’ experience of assisting in litigation matters, supporting clients and other professionals in a wide variety of cases. Our different disciplines work closely together (tax, accountancy and audit), ensuring that each litigation engagement is examined from all financial advisory aspects. We realise it is not a single or separate skill. Our work is tailored to each situation and therefore we focus on what is required rather than presenting a standardised report.

Friend Partnership can assist with:

Professional negligence

Commercial litigation

Employment matters

Fraud

Commercial litigation

Expert Witness

Friend Partnership has extensive experience in providing expert witness services as part of litigation or dispute resolution in all types of disputes and across many industries.

Our team works with law firms and our clients to provide an independent assessment of the quantum of a specific claim and can also give evidence in cases on liability involving alleged accounting or audit negligence.

Our services are applicable at each stage of a dispute, from advising clients on viability at the commencement of a claim, to providing expert evidence for court.  We have an outstanding record in helping our clients negotiate favourable early settlements, however, if the dispute continues into litigation, our team has a track record of achieving recommendations from judges on the quality of expert evidence in court.

Our forensic accounting experts have covered numerous forms of disputes in many sectors of industry and professions, helping disputes to be resolved quickly. If you need advice or help please get intouch.

Independent Business Reviews (IBRs)

We work with stakeholders to provide lenders with an independent view on whether its borrower has adequate liquidity to continue operating for the foreseeable future, and will be able to meet its debt commitments as they are due.

Our work includes a thorough review of the business forecasts, and we will test the assumptions contained therein for potential weaknesses and cash low points.  Such reviews help lenders take a view as to whether the business plan provides a reasonable basis to determine the debt capacity and to make future lending decisions.

Our work can include:

Pre-lending reviews, reporting to banks and investors on a business and its plan, financials, management and market conditions, and any risk to funders

Detailed financial reviews, investigating and analysing specific problems such as cash shortfalls, accounting irregularities or underperformance

Specialist investigations in areas such as fraud, or compliance with regulatory requirements

We can undertake independent business reviews for businesses experiencing problems. We can act for management, investors or lenders and tailor the scope of our review to meet our client’s requirements.

SDLT and CGT Service for Solicitors

There is already a somewhat unrealistic expectation that solicitors should, in their professional capacity, be both property and tax experts. At Friend Partnership, we have a dedicated team of specialists who can deal with SDLT and CGT matters and we would be delighted to offer the benefit of our expertise to our colleagues in the legal profession and their clients.

Stamp Duty Land Tax

Solicitors are now expected to calculate Stamp Duty Land Tax (SDLT) liabilities in respect of property acquisitions and return these to HMRC within a strict time period – usually within 14 days of completion of the transaction. The SDLT legislation can be extremely complex and the calculation of the amount due is fraught with problems and risk for solicitors. HMRC’s SDLT calculator “tool” is simply not up to the job and is sadly unable to deal with the most basic of situations.

Capital Gains Tax

As of 6 April 2020 individuals disposing of a residential property are required to submit a Capital Gains Tax (CGT) return within 30 days of a disposal. Although the legislation says that the person making the disposal has to make the return, many will look to their solicitor to compile and submit this information.

Calculation of the CGT liability on a residential property disposal requires detailed knowledge of the legislation, and complications can arise when the property disposed of is not the vendor’s main residence, or where there are outbuildings, periods of absence from the property and where land surrounding the property does not qualify as “garden or grounds”.

We can provide a tax calculation service to solicitors and their clients, giving certainty that the correct amount of CGT is paid and all the reliefs that vendors may be entitled to are claimed.

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