US - UK Bridge: 18 Months On...Report
In April 2014, London-based UK inward investment leader Fitzgerald & Law (F&L) launched its partnership with US public accounting and professional services firm, EKS&H.
The relationship was designed to “bridge the gap” between the US and the UK, supporting companies looking to move into either market by providing access to experts who can advise on all aspects of setting up and operating a business in each country.
In the 18 months since the partnership was officially unveiled, the benefits have been clear for mutual clients of the two firms - and for the firms themselves.
Since April 2014, over 20 corporate clients looking to expand into the US or the UK have benefited from the US-UK Bridge service - taking advantage of the expertise available and creating a strong local presence - and the jobs that come with it.
Companies in sectors as diverse as marketing, natural resources, medical equipment and information technology have all benefitted from the establishing of “the bridge”.
F&L and EKS&H made a joint presentation at the Denver Global Expansion Roadshow in May 2014, with international tax partners Gabriel Parrish and Kiki Stannard of F&L, and Dave Steiner, Ken Berkeley and Chris Stuart of EKS&H providing coordinated guidance on the benefits of doing business either side of the pond.
Both firms remain key members of the Global Expansion Advisory Network (GEA Network), working together with partners across the globe to provide advice on all aspects of global expansion and mobility.
“The two firms work together to ensure that our operations are efficiently managed and fully compliant. The relationship...makes our US and worldwide financial reporting very straightforward. We look forward to a successful ongoing relationship with both EKS&H and F&L.” Molly Nasky, CFO, Techstars
It hasn’t only been clients who have been able to take advantage of the newly formalised partnership between the firms. Over the summer of 2014, Ben Cote (a Tax Senior at EKS&H) spent two months working in London within F&L’s Tax Advisory department.
Ben told us: “I’ve gained some truly valuable knowledge on many aspects of UK corporation tax and VAT. I feel well prepared and able to provide initial advice to any US clients potentially looking to expand into the UK in the future.” Ben Cote, Senior, EKS&H
Ben returned to EKS&H’s Denver Offices in August 2014 accompanied by Gareth Davis, Tax Manager at F&L. Gareth spent five months working with Ben and his colleagues in EKS&H’s international tax team getting to grips with the US corporate tax regime. Due to Gareth’s background in the UK, he was also able to share his insight with local US companies.
The team exchange programme was so successful that it has extended into a recurring initiative.
“Key employees from both firms are getting first-hand experience of the internal workings of different countries, gaining exclusive and incomparable knowledge which, at the end of the day, helps our clients make better decisions about global expansion.” Melissa Harkcom, Director, F&L
Together, F&L and EKS&H have expanded into new offices in TechSpace, downtown San Francisco in response to the growing number of Bay Area shared clients. More secondments are on the horizon and the firms are closer than ever.
The first 18 months of the bridge partnership has been hugely positive and both firms are excited about the future - one which continues to benefit both clients and employees alike as it moves into its second year.
If you would like to find out more about the US-UK Bridge or how your business could benefit from this specialised service, please contact a representative below.