PracticeAccounting FirmsVantis

Vantis

HMRC inquiries into charity tax rebates haven't stopped the firm posting fee growth of 26%

Vantis plc is an AIM-listed firm at number 13 among the UK’s Top 50
accounting firms with an £85m fee income.

Its client portfolio covers owner-managed businesses, listed companies,
not-for-profit organisations to high net worth individuals and other
professionals.

The firm itself floated on AIM in May 2002, while also being the UK
representatives of international accounting and advisory services group, HLP
International.

Negative publicity hit the firm in February 2007 when it came under scrutiny
due to an inquiry by HMRC into the use of companies to generate charity tax
rebates.

Several executives of the companies were also advisers employed by Vantis.

At the time, the firm said that the companies had genuine commercial
prospects and were not cash shells. The firm maintained that tax rules had been
strictly applied.

A few months later the firm moved on with further growth plans and announced
that it was setting up a banking arm, hiring top City consultants to head up its
new division.

The firm recently saw its turnover rise by 26% to £89m, with underlying
profits up 13% to £14.4m, as it continued to acquire and integrate new
businesses.

The firm’s pre-tax profits rose by 67% to £7.5m.

The Group’s strategy for profitable growth continues with the careful
integration of businesses and teams into a strong common culture and
infrastructure.

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