Sarah Hallam - Menzies Accountant

Sarah Hallam – Asset managers specialist

Asset Managers main objectives are to achieve growth for their clients by making the right investment decisions that will increase the overall value of their clients’ funds.

Working with a group of several investors they are able to diversify their clients’ portfolios giving them access to increased capital appreciation prospects whilst minimising risk.

Their clients tend to be large corporates or high-wealth individuals who place trust in their expertise to grow their wealth and portfolio.


Audit Compliance 

Asset Management Firms are regulated by the Markets in Financial Instruments Directive (MiFID II) and are required to present audited financial statements. In addition to this firms that undertake MiFID activities must appoint auditors to report to the FCA a client assets report within four months of the period end regardless of whether they are authorised to hold client monies. 

At Menzies we undertake audit services for a wide range of asset management firms and prepare the client asset reports for submission to the FCA.

Research and Development

R&D tax credits are a well-established and effective way of incentivising companies performing qualifying activities. 

Asset management firms need to continually extend their technological knowledge and capabilities to retain their competitive edge in pursuit of profitable returns which typically involves a broad range of technologically advanced activities where there can be scope for tax relief. 

We have successfully performed R&D tax credit claims for several of our asset management firms’ clients creating them significant tax benefits.

VAT Advisory

VAT compliance can be complex and risky in today’s tax environment and is often time consuming and costly for a business, with increased HMRC focus on audit and the right tax at the right time.  We have an established and experienced VAT advisory team, with clients in all industry sectors, providing clear and concise advice that also adds value. 

Financial services is one of the focus areas and the team has experience of providing clients with advice on getting VAT compliance right, whilst also maximising VAT recovery within a sector where full VAT recovery is often a problem.  We work closely with many businesses in the financial services sector, to assist in correctly identifying the VAT liability of their supplies and also helping them to agree appropriate VAT recovery methods with HMRC.

Can incremental productivity gains deliver lasting value?

Accounting Computer Graphic

Most people already know that UK productivity is not as strong as it should be, but do you understand why it matters and what you can do about it?

In our latests business services insights report, we explore why and how business owners can boost productivity within their own operations.

Everyone Wants ‘More for More’


In this business services sector white paper, we explore the contribution that small and medium-sized business services firms make to the UK economy and how to achieve growth even in uncertain economic times.

Instead of giving into such cost pressures, however, most forward-looking business services firms realise that the key to growth is convincing customers that they are worth ‘more for more’ – but how should they go about it?

Contact our Financial Services sector team