Transfer Pricing

Menzies transfer pricing services

Transfer pricing – the pricing of transactions between connected parties – is an increasingly important issue owing to the ever-onward march of globalisation, along with the demand for greater tax transparency from tax authorities.

Rebecca Wilkinson - Menzies AccountantTransfer pricing has been a hot topic in recent years, and any group that trades in multiple jurisdictions may expect at some stage to be scrutinised over its intra-group pricing decisions by tax authorities in one or more of those countries, no matter how conscientiously their pricing decisions have been determined. An effective transfer pricing strategy will be invaluable in significantly reducing the risk of a successful challenge from those authorities, along with the associated financial implications which may include punitive tax penalties and the loss of access to double tax relief.

There are also many proactive reasons for managers to consider their transfer pricing strategies. From a commercial perspective, greater transparency will allow managers to better assess the true sources of profit within a multinational group, which for example may be important in executive remuneration decisions. Furthermore, providing that pricing policies follow the economic substance of transactions, transfer pricing can legitimately be used to manage tax liabilities across jurisdictions in a non-aggressive way.

Transfer pricing strategies should cover the full range transactions undertaken between connected parties, which would include intra-group sales of goods and services, the licensing of intellectual property and management charges among others.

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Transfer Pricing Services

Our Transfer Pricing team consists of experts in the fields of international tax and pricing economics to provide an all-round perspective to our work.

We work with you in performing a functional analysis to understand your business, identify relevant transactions and the economic substance of those transactions. This is then considered in conjunction with market research for reliable benchmark data, in order to provide you with meaningful contemporary pricing levels for the range of transactions you may undertake.

HLB International network

Our membership of the HLB International network of firms means that we are able to draw upon local expertise where appropriate, while our close ties with reputable law firms in the specialism also mean that we can point you in the right direction for any ancillary legal requirements.

Find out more about Menzies International business advisory services.

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  • “Menzies have been an incredible partner for us as we’ve moved from the US into the UK. They’ve helped us navigate a new business climate, displaying exceptional local expertise, while also responding quickly and pragmatically to the growing requirements of a tech company. By plugging us into their network of contacts, our entry has been significantly easier than it would have been without them.”

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    Wiredscore UK Limited, Wiredscore UK Limited June 18, 2018

  • “Menzies provided, audit, tax and company secretarial services to SFW. Their work was always to a  very high standard and we found them easy to work with. When we sold the business Menzies provided significant help during due diligence and completion activities. They were highly responsive, particularly, when we had last minute requests for assistance and were thoroughly professional. I have no hesitation in recommending them.”
    Steve Elliott – SFW Ltd Director

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    SFW Ltd, SFW Ltd August 17, 2016

  • “Throughout our many years of working with Menzies, we have always found them to be professional in all aspects of their work. The team currently deal with our UK trading company and the holding companies which includes acting as the group auditors for a large international group. Their historical knowledge of our company and operations is highly important to us especially as we have a fairly complicated group structure. The team are reliable, friendly and organised in their approach.

    We would have no hesitation in recommending Menzies to any other company.”

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    Crabtree & Evelyn, Crabtree & Evelyn August 17, 2016

  • “Menzies LLP have acted as our auditor and advisors for a number of years. The company has a holistic range of services to offer, from the compliance aspects of our business and consultancy services which are undertaken by specialist teams. The firm have recently undertaken a business valuation for a successful acquisition of an overseas subsidiary that our group acquired as it continues to grow and branches out into the overseas markets. We have found Menzies to be reliable, honest advisors and would not hesitate to recommend them.”

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    Contechs Holdings Limited, Contechs Holdings Limited August 17, 2016