Tax team of the year: BDO Transfer Pricing

Corporate revenues have been rocked by the turbulent economic conditions and companies have rushed to ensure their tax arrangements are as streamlined as possible.

This is to achieve the purpose of paying the correct amount of tax but perhaps more vitally to ensure their tax affairs are in order if and when the taxman takes issue with certain schemes.

In its aim to become the first choice tax practice team BDO planned to develop the depth and breadth of its specialist offering and in winning the Tax Team of the
Year for the second year in a row, the specialists of Baker Street saw off
tough competition from Ernst & Young Human Capital, KPMG, Sagars, Smith & Williamson and Tenon.

Transfer pricing has long been a bugbear of the taxman and the winners of this year’s tax team of the year award have excelled themselves in providing the type of advice which dots all the Is and crosses all the Ts of the tax minefield.

Judges said: “BDO showed very strong results and a commitment to helping clients to succeed in turbulent times. This was an entry that couldn’t be ignored.”

The firm’s strategy of offering clients a tailored pricing service based upon expertise, innovation and quality of service saw BDO actively steer clear of a blanket policy to clients. “We will not offer a one size fits all approach,” the firm vowed.

BDO’s efforts left an indelible mark in the minds of its clients. “We were very pleased with the innovative solution provided by BDO and awarded them additional transfer pricing work subsequent to this,” said one finance chief.

Another finance executive said: “The transfer pricing document prepared by BDO is very comprehensive and I am most impressed with the grasp and summary of our business.

“Rather than suggest a purely theoretical route BDO was able to provide a commercially practical solution and identify wider tax issues of our businesses in the process.”

IMPRESSIVE FIGURES

BDO’s fees generated from tax services increased by 32% in a tough price competitive market. It also enjoyed an increase of more than 20% in client numbers while bringing more people into the team. Staff levels rose by 18% including one senior appointment, the firm said.