Meet Fiona Cross – our new Director of Tax Advisory
There is nothing more exciting than welcoming a new team member. This allows a company not only to grow but also to deliver more support to its clients.
Last month, Finerva’s growing team welcomed an exciting addition – Fiona Cross. Fiona joined us as a Director of Tax Advisory and has opened up new tax service lines that we can offer: Advisory on International Tax, Corporate Restructuring, Mergers & Acquisitions, and Capital Allowances. She has also taken over our EIS/SEIS and EMI schemes support.
1. Why did you decide to join Finerva and support fast-growth businesses?
Having advised on tax matters for 30 years across a wide range of industry sectors from start-ups to large multi-national groups, largely for London-based medium-sized firms, I was looking for a refreshing change from the more traditional type of accountancy firm.
Following initial discussions with Adam Brodie, it quickly became apparent that Finerva’s focus on corporate clients and the tax specialisms they offer were “right up my street”. I felt not only could I add value to these existing tax services lines but I could also bring expertise for additional tax advisory services.
Having worked for firms that had been established for many years which was reflected in the client base, I was excited to join a relatively new firm, themselves seeking to grow, with a reflective client base seeking fast growth.
I found the drive and ambition, yet friendliness, of the two young Founders, which was apparent from my pre-joining discussions, energising and something I wanted to be a part of.
2. Tell us more about what tax-efficient schemes are usually the most valuable to fast-growth businesses?
Investor tax reliefs, S(EIS), encourage investment into fast-growing businesses which may undergo a number of funding rounds.
R&D tax credits provide valuable cash flow benefits.
Share schemes for key employees, such as EMIs and CSOPs, enable fast-growing businesses to incentivise key employees when cash may not be available to pay high salaries. Having contributed to the growth of the company, on an exit the key employees can “cash out” in a tax-efficient way.
Capital allowances and in particular the super deduction can be taken advantage of to reduce the tax burden.
For those companies working in the entertainment industry, and in particular video games, film, animation, TV, theatre, orchestras and museums, the creative tax reliefs can provide valuable cashflow benefits.
3. How can you support Finerva clients?
In addition to Finerva’s core tax services, I am able to provide wider tax advisory services, including:-
- support during M&A including tax structuring advice, tax due diligence and a tax review of the Sale & Purchase Agreement
- corporate structuring/restructuring advice, including applying to HMRC for various advance tax clearances
- capital allowances, supporting your claim by providing a review with calculations to maximise your claim
- international tax services, including helping our clients to reduce their worldwide tax costs with advice on international structuring, permanent establishments, company tax residency, and double taxes
4. What 1 thing would you change in the UK to support fast-growth businesses more?
This has to be improving investor tax reliefs, including increasing the SEIS investment limit and the SEIS and EIS age limits. Given the EIS 2025 “sunset clause” we expect to hear more on this from Government in due course.
If your businesses need support on any tax-related issues, please don’t hesitate to get in touch via our website or drop Fiona a line. We will be delighted to support you in the difficult area of taxation.