IFRS implementation and input into your accounts
Where public interest permits, we can assist with the first time implementation of International Financial Reporting Standards and with ongoing support for the preparation of financial statements. Through our associates at Pass Training, we can provide practical IFRS training and other ongoing technical training and updates to enable your accounts department to be kept up to date.
To ensure that technical matters arising can be dealt with quickly and practically, we have a dedicated technical team to support our public company group. We can provide the technical input into your accounts that will ensure that ensure that they are both correct and conform with best practice.
Tax services for public companies
Our specialist tax team is able to advise on matters ranging from the structuring of acquisitions and disposals to routine compliance issues.
The tax team includes individuals who specialise in corporation tax, employment taxes, VAT and international tax. We are also able to advise shareholders on income tax, capital gains tax and inheritance tax issues. Click here for further details of our corporate tax services.
Employee incentive schemes
Whether you are a growing SME or listed company, employees are often your most valuable asset. Attracting, retaining and incentivising the right people, is now fundamental to the success of a business. Successful companies are increasingly turning to employee incentive arrangements (predominately share based) to ensure that, by aligning employee and shareholder interests, they are best placed to achieve their business and human resource objectives. These arrangements are common for employees of publicly quoted companies.
When creating these employee incentive arrangements, you must have clear objectives and take into account commercial, tax, legal and accounting implications.
Whether your company is privately held or listed, we can work with you to identify, design and implement effective employee incentive arrangements, that are individually tailored to meet your business objectives and which focus on tax efficiency wherever possible.
Valuation services
Valuation of businesses, shares, intangibles and share options is a specialised area. Vantis has a dedicated Share and Business Valuation Services division, and many years’ experience in dealing with valuation issues. The benefits of a professional valuation are clear, allowing you to secure the best possible agreements, and, where the issue is tax-related, to maximise your tax benefits. In the context of a business preparing for an IPO, stock market quote or both we are able to assist with the pricing of share issues. We can also value target companies during an acquisition process and advise in contemplation of business disposals. Following the recent changes in accounting for share-based payments, we have carried out a number of option-pricing valuations pre and post float using Black Scholes, Binomial and other models, and we can also advise on the accounting issues that arise from this.
Corporate Adviser on Plus
A company seeking to issue shares on admission to Plus must appoint a corporate adviser; and such a firm must also be retained as part of the company’s continuing obligations post-IPO. The role of the corporate adviser is to initially assess the company’s suitability for admission, and ensure that the applicant meets the necessary criteria for admission. Part of the role of Corporate Adviser will be to prepare the IPO timetable and project manage the process with you, and additionally to determine the extent of any financial and legal due diligence. On an ongoing basis they would be responsible for advising you on the application of the Plus rules. Vantis are an authorised Corporate Adviser for the Plus market, and have the experience to provide valuable advice to you in our capacity as Corporate Adviser.
Financial promotions
A financial promotion is an “invitation or inducement to engage in investment activity”. A financial promotion may only be issued if it is issued by, or approved for issue by, a person authorised by the Financial Services Authority (FSA).
Entities, including public companies, that are seeking to raise finance from UK investors, by way of either equity or debt, are likely to need advice and assistance concerning the implications of section 21 of the Financial Services and Markets Act 2000 and subsidiary legislation which govern financial promotions. This is likely to be relevant to any entity considering raising private equity or debt finance or preparing an offer document for the takeover of another entity. The following are specifically excluded from the remit of the legislation:
- Prospectuses prepared in accordance with the UK Prospectus Rules
- Admission documents prepared in accordance with the AIM Rules and Plus Rules
There are also a number of exemptions available under the legislation for specific types of promotion.
We can provide advice on the exemptions available, including how and where they may be applied. In addition, where no exemptions are available, Vantis Corporate Finance Limited is authorised by the FSA and may approve financial promotions for issue, subject to ensuring they comply with the necessary requirements.