Despite all the challenges of the past eighteen months, there is no getting away from the fact that people from all around the world are increasingly interconnected. Individuals are more mobile (lockdowns are surely only temporary) and families are often spread across the globe; businesses trade with partners and customers from all points of the compass; and regulators and lawmakers extend their reach across multiple jurisdictions.
Against this backdrop, and to support our clients with their evolving requirements, we took the decision to develop our international capabilities. Consequently, in April 2021 Scholes CA joined an international network of leading accountancy firms, as an independent member firm of MGI Worldwide. We are the network's sole Scottish member.
As a member of MGI, Scholes CA is able to work in conjunction with leading firms around the world to offer our business and private clients the support they need in a seamless way; we help clients who want to expand their business outwith the UK; and we also help businesses who want to expand into Scotland. All member firms are subject to a stringent quality assurance process, which gives our clients comfort that their needs will be properly and efficiently served.
There is an almost limited number of scenarios where our clients may require international support, including (to name just a few):
- setting up a company or branch within the EU to combat tax and regulatory issues post Brexit;
- exporting goods overseas;
- changing residence and domicile;
- tendering for work internationally;
- auditing overseas subsidiaries;
- assistance with tax compliance in overseas jurisdictions.
The MGI network spans over 200 jurisdictions across the world, from the USA to Japan, from South Africa to Norway and everywhere inbetween. This means that, whether our clients need advice about income tax in Singapore, or an audit of a company in Mexico, or help with exporting goods to Australia, we now have the capability to partner them up with members of our network who will be in a position to help.
Indeed, since joining MGI Scholes CA has already helped local Scottish businesses and individuals to:
- tender for a contract in the Caribbean;
- source an auditor for a company in the EU;
- obtain advice about corporate tax and VAT regimes in Germany and Spain;
- identify professional advisers in Singapore; and
- obtain advice concerning gift tax in Ireland.
I am certain that, in the months to come, many more of our clients will begin to see and experience the benefits of our membership of MGI.
If you would like to ask about any of the matters discussed in this artcile, please feel welcome to get in touch today.