Establishing & Advising the UK Subsidiary of a Large Biopharma Group
The finance director of a large biopharma group based in the EU approached us after setting up a UK subsidiary. She was looking for audit and accounting support in a country unfamiliar to the group.
Initially, we gave the FD advice on UK tax and filing requirements and reviewed the UK business model. We focused on the options for UK accounting rules (UK GAAP or IFRS), transfer pricing and VAT rules between the UK and EU.The FD then asked us to provide management information and year-end compliance services, including statutory audit, monthly management and year-end statutory accounts, corporation tax, VAT returns and monthly payroll.
Regular meetings are an important part of our strong working relationship with this group’s management; typical discussions include management information, audit findings and expert advice on key issues. By building a strong relationship and demonstrating our depth of expertise, we have become a trusted advisor to UK management and the wider group.