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AAB Group / News / Page 3
Leading professional services firm, AAB, has today announced the promotion of three team members to Partner, effective January 2025. This milestone reflects the company’s continued commitment to investing in its people and fostering leadership from within.
The newly promoted Partners are:
These promotions highlight AAB’s strategy of nurturing talent, driving excellence, and ensuring sustained client success. Each of the newly appointed Partners has played a pivotal role in shaping the firm’s growth in their respective areas, strengthening client relationships, and delivering exceptional professional services.
Emma Lancaster, Chief Executive of AAB, commented: “We are delighted to recognise the hard work of Ian, Graham and David with their promotions. Their dedication, expertise, and leadership have been instrumental in driving our success. Promoting from within is a core part of our culture, and these appointments reflect both their outstanding contributions and our belief in their ability to help shape the future of AAB. We are excited about the journey ahead.”
The promotions come at an exciting time for AAB as the firm continues its strategic growth journey, expanding services and enhancing capabilities to meet evolving client needs. A further 121 people across the business have been recognised with promotions in January 2025. Since securing investment from August Equity in 2021, AAB has trebled in size and now employs more than 1,000 people across the UK, Ireland and internationally.
AAB, a leading Professional Services firm across the UK and Ireland has been recognised as the top financial adviser for M&A activity in Scotland, according to Experian’s United Kingdom and Republic of Ireland M&A Review.
The review, which ranks financial advisers for deals by volume, revealed that AAB retained its top position in Scotland.
Further bolstering its success, AAB’s Corporate Finance (CF) team has been shortlisted for both the Corporate Finance Team of the Year 2024 and the Transaction Services Team of the Year 2024 at Insider Media’s prestigious Dealmakers Awards.
With M&A activity in Scotland on the rise—particularly in the Industrial, Professional Services, and Energy sectors—AAB has continued to leverage its strong market position, advising on a diverse range of deals across sectors including Agriculture, Automotive, Hospitality, Healthcare, Industrial, Logistics, Energy, and Technology.
Gordon Steele, Head of Corporate Finance commented on the achievements: “We are immensely proud of our Corporate Finance team. Being shortlisted for two Dealmakers Awards and named as the top financial adviser for M&A activity in Scotland is a tremendous honour. This recognition reflects the dedication and expertise of our talented team, who have navigated a challenging M&A landscape with resilience and commitment.
“Despite the hurdles, we have been fortunate to collaborate with thriving businesses, delivering exceptional results for our clients. Our team consistently finds innovative ways to structure and execute deals that create real value. Conversations with prospects and fellow advisors reinforce our optimism for continued growth in transaction activity as we look ahead to 2025 and beyond.”
With its eye firmly on future opportunities, we remain at the forefront of the Scottish M&A landscape, setting the standard for excellence and ambition in deal-making.
Analysis and commentary from AAB’s team of tax experts, identifying the key changes and outlining the practical implications of the Autumn Budget 2024 for you and your business.
Our team of tax experts have summarised some of the main changes in our guide, here’s some of the highlights:
In our Autumn Budget Guide, we explore the impact of these changes on you and your business. Navigating these changes can be challenging. Our tax experts have summarised the main changes announced by the chancellor.
Looking for commentary on Budget Ireland 2025? You can download analysis and commentary from AAB’s team of tax experts, identifying the key changes and outlining the practical implications for you and your business.
AAB, a leading Professional Services firm across the UK and Ireland has been shortlisted for two awards in Insider Media’s Dealmakers Awards 2024.
The team have been shortlisted for Corporate Finance Team of the Year 2024 and Transaction Services Team of the Year 2024.
The Corporate Finance (CF) team has also been recognised as the H1 top financial adviser for M&A activity in Scotland according to Experian’s United Kingdom and Republic of Ireland M&A Review.
Scottish M&A activity is beginning to see an uplift in sectors such as Industrial, Professional Services and Energy, AAB has continued to benefit from its strong market position and advised on deals across Agriculture, Automotive, Hospitality, Healthcare, Industrial, Logistics, MedTech and Technology.
Gordon Steele, Head of Corporate Finance commented on those achievements: “We are exceptionally proud of our Corporate Finance team, being shortlisted for both the Corporate Finance Team of the Year and Transaction Services Team of the Year is truly gratifying.
This recognition is a testament to the hard work and dedication of our talented team, particularly in navigating what has been a challenging M&A environment. Despite this, we have been fortunate to work with successful businesses and continue to deliver outstanding results for our clients.
Earlier this year, we were proud to be named 2024 Transaction Services Team of the Year in Northern Ireland, and it’s fantastic to see the same level of excellence recognised once again in Scotland. This acknowledgement reflects the passion and expertise we bring to every transaction, and we’re excited for what’s to come.”
A leading professional services firm, AAB, has strengthened its position in the north of England by acquiring Bolton-based Barlow Andrews and its sister entity Beech Business Services.
Established for over 100 years and currently employs 70 people, Barlow Andrews and Beech Business Services collectively provide audit & accounts, tax, payroll, outsourcing and business advisory support to a wide range of SME clients in the North West. The businesses join AAB immediately and will continue trading as Barlow Andrews and Beech Business Services for a set transition period.
John Beevers, Head of Professional Services at AAB commented:
“We are excited to announce the acquisition of Barlow Andrews, which marks an important milestone in our strategic expansion in the North of England, helping AAB to realise our ambitious 2030 growth strategy. Combining our expertise with Barlow Andrews’ deep knowledge of the North West region and its market, we are confident we will drive continued innovation and success for our clients. We look forward to building on this strong foundation and pursuing exciting growth opportunities across the North West.”
Chris Harland, Managing Partner at Barlow Andrews added: “We are delighted to be joining forces with AAB, a company that shares our core values of collaboration and a strong commitment to client service. Over the years, we have built a strong reputation in the North West by focusing on delivering great results and fostering close relationships with our clients. In AAB we’ve found a partner that not only aligns with our vision but also offers the resources and expertise to broaden the support we can provide to our clients. Together, we will continue to prioritise the needs of our clients and continue to deliver high-quality tailored advice.”
Since securing investment from August Equity in 2021, AAB has trebled in size and now employs more than 1,000 people across the UK, Ireland and internationally. The rapid growth journey is set to continue as part of delivering its ambitious growth strategy for 2030.
Analysis and commentary from AAB’s team of tax experts, identifying the key changes and outlining the practical implications of the Budget 2025 Ireland for you and your business.
Yesterday, Minister for Finance Jack Chambers unveiled the eagerly anticipated 2025 Budget Ireland which many predicted would be a giveaway budget.
The Minister announced his first budget against the backdrop of the recent Apple tax judgment of €13bn. He said that it is imperative that this revenue is not used for day-to-day expenditure or to narrow the tax base and that it is this Government’s view that we should utilise these revenues to address the known challenges that we face in housing, energy, water and transport infrastructure.
The AAB Budget 2025 Ireland Guide will help you check the main changes that could impact you or your business. A summary of the key points are laid out below.
One significant announcement that will directly impact individuals is the increase in the entry point for the higher rate of income tax. The threshold has been raised by €2,000 to €44,000, allowing taxpayers to enjoy the 20% rate for income up to this amount.
The Capital Acquisition Tax Thresholds are increasing. The Group A threshold, which includes gifts or inheritance from parents to their children, will rise from €335,000 to €400,000.
The Minister announced a further condition for Agricultural Relief on the transfer of agricultural property. He is extending the six-year active farmer test to the person who provides the gift or inheritance. This is in response to concerns that Agricultural Relief is being used as part of tax planning strategies by wealthy individuals.
From today there will be a new 6% Stamp Duty rate for residential property sales worth over €1.5 million. The existing rate of 1% will continue to apply to values up to €1 million, and 2% on values above €1 million.
There will also be an increase in the higher rate of Stamp Duty on bulk acquisitions of houses from 10% to 15% with immediate effect.
Recognising the significance of the agricultural sector, Minister Chambers extended several agricultural stock reliefs that were set to expire. He is also broadening the scope of accelerated capital allowances for farm safety equipment by adding further qualifying farm safety equipment types.
In his speech the Minister Chambers confirms that it is the government’s priority to continue to accelerate the supply of new homes.
The rental tax credit has been increased to €1,000 for 2025, providing relief to renters.
The mortgage interest relief announced in last year’s budget is extended for another year. This means that the relief will be available assist mortgage holders in respect of the increase in interest paid in 2024 over 2022.
Relief for pre-letting expenses for landlords is extended to the end of 2027. This relief applies to residential premisses which have been vacant for at least 12 months.
To address the rising cost of living, the government has implemented several measures:
The Budget 2025 Ireland also includes some key take-aways in relation to business taxes, income tax, and VAT.
The Minister intends this budget will put in place the policies and measures to continue the positive trajectory and ensure that all our people see a promising and hopeful future in this country.
As accountants and tax advisers, we can advise on how the Budget 2025 Ireland changes will affect you and your business. For more information on this year’s Irish Budget, contact our Tax Team.
AAB’s Tax Division is made up of Tax Specialists who are based both Ireland and UK. This means our Tax Team are experts on the intricacies and complex reporting requirements of both tax jurisdictions on the Island of Ireland, ensuring we provide the best possible advice to our clients.
Talk to us now for advice on making the most of the opportunities available to you and your business.
Leading professional services firm across Ireland and the UK, AAB, has announced a new Head of Office within its Island of Ireland operations. Teresa Campbell is set to step into the role as Head of Ireland, succeeding Feargal McCormack, from 1 October 2024.
Currently employing c. 1,000 people across 12 offices globally, AAB is ranked among the top 20 Accountancy Firms by Accountancy Daily. The announcement marks the next step in AAB’s ambitious growth plans, which are driven by a commitment to empowering people and enabling clients.
Feargal McCormack, who has been instrumental in establishing AAB’s high profile, presence and expansion on the Island of Ireland, following the merger with FPM in 2022, will transition into the role of Senior Partner and Head of Family Business across Ireland and UK.
Having founded FPM in 1991, Feargal’s tenure is marked by unparalleled client service, innovation, and impactful contributions to both the community and economy. His profound expertise in the complex dynamics of family business and succession have established him as a recognised authority on the subject, and a pillar of support for many of Ireland’s top family enterprises. This wealth of experience and deep understanding positions him ideally for this vital role at AAB.
“I am incredibly proud of the legacy we’ve built, and grateful for the unwavering dedication of our team. Handing over the reins to Teresa, a leader of such calibre, assures me that our team and clients are in exceptional hands.”
Teresa Campbell, who joined the firm in 2002, has spent over two decades demonstrating key leadership in Audit and Assurance, Business Advisory, and People Development. As the new Head of Ireland, Teresa will co-ordinate closely with the Heads of Offices across AAB to enhance our ability to provide innovative, integrated solutions tailored to the distinct needs of our local market and clients.
Teresa expressed her delight at stepping into this new role at such a pivotal time for AAB: “I am honoured to take up the mantle from Feargal, and guide the wonderful Island of Ireland team into our next chapter, as we continue to work together to go above and beyond, offering clients a bespoke suite of services that cater to their evolving needs.”
Chief Executive of AAB, Emma Lancaster, added: “This transition reflects AAB’s commitment to ensuring seamless leadership continuity. Feargal has been, and will continue to be an immensely influential, highly respected and hugely knowledgeable presence at AAB, both across the Island of Ireland, and England and Scotland. A visionary leader, Feargal has been instrumental in fostering the seamless merger of FPM and AAB, and I look forward to working with him in his new role.
“I would like to extend a warm welcome to Teresa Campbell as she takes up her new role. During her 20-year career at AAB Teresa has amply demonstrated the qualities of a fine leader who is ready to build on the tremendous reputation of AAB for driving business success, and realise our exciting ambitions for further growth.”
AAB Wealth, a leading provider of tailored financial planning and wealth management services, has today announced the acquisition of specialist financial planning firm WealthFlow.
The acquisition marks a significant milestone in AAB Wealth’s growth journey, bringing the total assets under advice (AUA) to over £1 billion.
Edinburgh-based WealthFlow’s experience in managing the intricacies of financial planning for clients with financial settlements complements AAB Wealth’s holistic approach to financial advice, ensuring clients continue to receive expert, personalised guidance.
The deal strengthens AAB Wealth’s position as a leader in the financial planning sector, offering clients across the UK an enhanced range of services to meet specific and complex financial needs.
Andrew Dines, Head of AAB Wealth, commented:
“This is a very exciting development as we continue to expand our service offering, and strengthen our capabilities to deliver specialist financial planning services to a wider audience.
“We’re equally thrilled to report that this exciting deal brings our total assets under advice to more than £1 billion – an exceptional statistic which speaks volumes about the trust placed in our advisors and the quality of their investment strategies.
“WealthFlow Directors Duncan Glassey, Helen Learmonth and their team have built an outstanding reputation within the financial planning profession, particularly in the niche area of financial medical negligence and injury settlements, and we look forward to integrating their expertise into our operations.”
Duncan Glassey and Helen Learmonth added:
“In AAB Wealth we have found a firm that shares our values and commitment to providing the highest standards of financial planning advice, and we can’t wait to start working with the wider team. We are particularly excited about the opportunities this presents for our clients, who will benefit from broader resources including specialist tax expertise. AAB Wealth is such a great fit for us, ensuring the most complex financial needs receive the best possible long-term support, combined with truly independent financial advice.”
This deal marks the third acquisition AAB Wealth has made since January 2023. AAB Wealth was awarded the PFS Financial Planning Firm of the Year accolade for 2023, and has recently been announced as a top-rated firm for 2024 by VouchedFor, the UK’s leading review site for Financial Planners and Advisers.
Only 28% of owner-managed businesses see growth as the main priority over the next 12 months, while 65% of these businesses are unlikely to make significant capital investment in the same period. These are two of the key findings of a survey of 512 owner-managed businesses launched by the Association of Practising Accountants (APA) today.
“Owner-managed businesses need meaningful help and support from Government. Our analysis suggests that many have given up hope of this coming. There is a real opportunity for the incoming Labour Government to re-engage with this vital sector of the UK economy provided it can demonstrate it understands the needs of these businesses.
“Government needs to identify a series of short-term, stop-gap measures to reduce the immediate challenges facing SMEs, including revisiting rises in corporation tax, addressing labour shortages with more flexible migrant policies, incentivising capital investment and being seen to champion the SME sector more broadly.
“There is also a need to take a more realistic view of our future trading relations with Europe, recognising that labour shortages coupled with an altogether more challenging export environment pose a real threat to long-term growth.
“Above all, the Government needs to recognise that uncertainty remains across many sectors of the economy and that businesses want reassurance as well as clear and unambiguous advice and support. This is about adopting a flexible approach to business policy which recognises the many challenges facing owner managers and which prioritises the sustainable growth of this sector.”
If you have any queries about the APA survey result,s please do not hesitate to get in contact with our expert family business team.
AAB, a leading professional services firm across the UK and Ireland, is pleased to announce a significant appointment within their Virtual Finance Function (VFF). Aberdeen-based Niall Pirie has joined AAB as VFF Partner, bringing 24 years of financial and professional services experience to the team.
Niall, who has led finance functions across a range of business sizes and types, has a wealth of technical accounting experience and commercial finance knowledge. He has developed specialist expertise in utilising financial data to better inform business decisions and maximise growth opportunities, particularly within Private Equity (PE) backed businesses. This expertise will be instrumental in his new role, where he will foster the growth of the VFF team across Scotland, particularly across the North-east, with a focus on using his experience to support owner-managed and PE-backed businesses.
The VFF team at AAB has experienced year-on-year growth for the last six years. In the last 12 months alone, client numbers have increased by 25%, demonstrating escalating demand for this critical business service.
AAB’s VFF service helps businesses to get the right support at the right time, without the commitment of hiring in-house. A fully scalable approach to their finance function, this specialist support is tailored to the needs of each client and delivered by a specialist team with a track record of supporting businesses across multiple industries. The bespoke cloud-based solution allows businesses to access real-time accounting data, providing valuable insight for making strategic business decisions, with financial experts on hand to support.
Lauren McCluskey, Head of VFF at AAB, commented: “We are thrilled to welcome Niall to our team. His extensive experience and innovative approach will be invaluable as we continue to expand our client base and enhance our services. Having previously worked together, I have witnessed Niall’s dynamic ability to deliver exceptional value to clients, and I am delighted to see him bring that same dedication to our team.
“We launched the VFF service in Aberdeen with just two members and have since grown to a team of thirty-five across offices in the UK and Ireland. We are excited to continue our development in key regional hubs. With Niall’s deep ties to the local Aberdeen area and his wealth of knowledge and experience, his appointment underscores our ongoing commitment to the region and our valued clients who operate here.”
Niall added: “I am excited to join AAB and look forward to working with the talented team to drive continued growth both locally and further afield. Having spent the last 11 years in senior industry roles, and in similar businesses to those we support in VFF, I am looking forward to using my experience to deliver the unique support and unparalleled insights we provide to clients that can better inform their business decisions. I am eager to work with both existing and new clients across AAB, and to help other businesses experience the benefits of this step-change in their approach to finances and accounting data.”