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Bourne Business Consulting LLP celebrated its fifth anniversary in style. Winning the best tax team in a boutique firm title in the 2007 Taxation Awards underlined the industry’s recognition of the firm as a growing force in tax consulting and the way it has chosen to do business.
Bourne, which has offices in London and Farnham, Surrey, provides specialist
tax advisory services to large corporations across a range of industries and
sectors.
Its offering includes a particular specialism in asset taxation. Bourne has the
largest independent asset taxation team in the UK, combining accountancy, legal,
survey and tax skills with wide-ranging experience in large capital projects and
transactions for FTSE 100 and Fortune 500 companies. Each service is headed up
by an acknowledged specialist in the field.
Bourne managing partner Philip Feibusch says: ‘The taxation and tax regulatory landscape is constantly changing and complex. So it makes sense for businesses to work with tax specialists to help them save both time and money.’
New breed
Bourne’s new breed of tax consultancy is a far cry from the traditional style of accountancy. But Feibusch believes the model makes perfect sense in today’s challenging and demanding business world.
‘In the same way that they would turn to a specialist IT consultant when they need a new computer system, it’s logical for them to use a specialist tax consultant who can help them work within the tax system and achieve the maximum benefits while staying fully compliant.
Focusing on specialist tax consultancy might seem to narrow Bourne’s business options, but Feibusch says that’s simply not the case. ‘We’re not a firm that believes in standing still. Our core values include a passion for excellence, which is our springboard for constantly seeking ways to improve our services. Our experience in each area allows us to work with clients to tailor our approach as their business and capital programmes grow.
‘The ever-changing nature and risk-led environment of tax legislation drives us to be forward-thinking.
‘Our tax specialists have been able to extend our specialist offerings by adding new service lines in corporate tax reporting and employer tax services as a result of leading specialists Toni Dyson and Alastair Kendrick joining as partners.
‘Clients know they can trust in the advice they’re getting, because it come from people whose knowledge and skills are focused in very specific areas,’ he adds.
Key points of the Bourne business model, according to senior partner Philip Feibusch:
'Our team is qualified in accounting, law, surveying and taxation, and indeed many of us are dual-qualified, which means that we can bridge any gaps, liaise knowledgably with different departments within a client business and create an effective link between different advisers.
'We're so specialised that it can cause some challenges that need us to develop our own innovative solutions. For example, no single training programme covers all the subject matter we deal with, so we have developed our own modular programme for staff, combining accredited external courses Ð such as the Royal Institution of Chartered Surveyors and the Chartered Tax Adviser exams Ð with our own internal modules.
'Every professional adviser will say that understanding their clients is important, but for us, it is at the very heart of the way we work.
'For example, we have sent highly skilled consultants and managers from our team to work for our clients at their own offices.
'Would we move away from a specialist model? The short answer is no. Specialism is engrained in the firm's ethos and is stated in our vision that was set out before we commenced trading.
'The market is large enough for us to grow yet remain specialist, only offering these services where we deliver the very best practical advice based upon experience,' he says.
Factfile
• Founded in 2002.
• It has two offices - one in Farnham, Surrey, and in London.
• Bourne has six partners, supported by a six-strong management team and a total staff of just under 40.
• The firm's turnover will be around £4.5m next year.
• Have your say: Is Bourne in danger of losing its identity by focusing on a narrow service line or will that ensure its supremacy? Email your views to comment@bestpracticemagazine.com
Harris Lipman
Harris Lipman’s founder Solomon Lipman may no longer be around, but his way of doing business is still very much a part of this London-based accountancy practice.
Lipman retired in 1988, but his philosophy of total client involvement
remains at the heart of a firm that has come a long way since it was founded
more than 50 years ago. In fact, so strong is that ethos that it has won the
firm a National Customer Service Award for its innovative approach to client
care.
Harris Lipman offers all the core compliance services you would expect from such
a traditional chartered accountancy practice, including accounts, audit,
bookkeeping, payroll, tax and VAT.
One-stop-shop
Senior partner Barry Lewis says: ‘Cliché though it is, we really are a one-stop-shop, and the breadth of our experience gives us extra opportunities to attract clients. For example, if we go to see a firm that is heading for liquidation, we can find ways that they can trade out of trouble. That’s happened many times and we keep those businesses as clients.’
But like any ambitious, independent practice intent on moving forward and winning substantial new clients in a sector dominated by the Top 20, Harris Lipman also believes in adding value to what it already does well.
The firm has a focus on all aspects of business development, from start-up to succession planning. Other key areas include personal and business tax strategies, retirement and inheritance tax planning, business planning for raising finance and assistance with budgeting and financial forecasting.
Harris Lipman’s willingness to diversify within a general practice framework
is a business model that suits it very well. For a practice proud of its
tradition, it might seem unlikely that Lewis uses the lyrics of a Spice Girls’
hit to sum up its approach to clients tell me what you want, what you really,
really want but it’s a neat definition.
‘There will always be a demand for our core services and our experience means
that our clients know we deliver these to the highest standards.’
Lewis, who joined the firm in 1967, believes Lipman would approve of the firm’s dynamic approach to integrated services. He says: ‘We may be a traditional accountancy firm, but we’re not old-fashioned we can’t afford to be in a challenging marketplace.
‘We’ve also developed some niche areas of expertise like insolvency and forensic accountancy that give us an extra edge and the ability to attract a different tranche of clients.
‘The way we work combines the best of the past and the present, while keeping an eye on the future to make sure we stay a step ahead of competitors.’
Key points of the Harris Lipman business model, according to senior partner Barry Lewis:
'We offer our clients a broad range of complementary, integrated services so they can work with a tried-and-trusted team on a range of different business areas.
'We also have the advantage of an overview of their whole business and personal financial situation, so we can take a holistic approach in providing our advice.
'These services provide a solid foundation of expertise, while our specialisms in insolvency and forensic accountancy put us in a different league to the average accountancy practice.
'Clients like knowing that we'll give them the same high quality services as a much larger firm, but that we're small enough to build personal relationships, which really matter in this business. Our UK200 Group membership means that when we do need extra resources, for example, on international matters, we have their support behind us.
'Part of the success of our client relationships is down to our recruitment policy, because we believe we're only as good as the people in our team.
'We've developed dramatically over the past 50 years, but the fact that we're still here - and growing and developing as a firm - is proof that we have a winning formula.
'We think what we do gives us and our clients the best of several different worlds,' he says.
Factfile
• Harris Lipman LLP was founded in 1954.
• It has five offices - one in the City, one in Whetstone, London, and one each in Cardiff, Reading and St Albans.
• Harris Lipman has seven partners, supported by a staff of more than 50.
• The firm has a turnover in excess of £4m a year.
• Have your say: Is Harris Lipman's offering too broad for a small firm in a multinational world? Let Best Practice know your views by emailing comment@bestpracticemagazine.com
