Top 20 accountancy firm MHA MacIntyre Hudson has strengthened its VAT and travel teams with the acquisition of Martin Pooley’s accountancy practice, based in Norwich
Sole practitioner Martin Pooley specialises in the Tour Operators Margin Scheme (TOMS), the complex VAT calculation enabling tour operators to calculate how much VAT they need to pay to HMRC on holidays sold in the EU. The practice has fee income of £250,000 recurring excluding one-off projects.
Pooley will be joining MHA Macintyre Hudson for a two-year handover period before retiring. He set up as an independent tax consultant in 1992, specialising in TOMS, and has advised over 500 tour operators across the UK.
Following the acquisition, the TOMS service will be headed by Sue Rathmell, VAT director at MHA MacIntyre Hudson, based in Kent, and the firm’s national head of travel, Rajeev Shaunak, based in London.
Pooley said: ‘Building a practice around TOMS has been an interesting and enjoyable experience. I am confident that MHA has the expertise to step into my shoes and carry on this important work.
‘TOMS remains poorly understood, mainly because applying it properly requires considerable expertise both in VAT consulting and accountancy. You are unlikely to find anyone with extensive knowledge of the scheme at your regular accountant or at HMRC.’
Rathmell added: ‘I have known Martin for many years and he is a very highly-respected expert in the travel sector, widely known for his prolific knowledge of the complex TOMS system. We are looking forward to working with Martin, getting to know his clients and further enhancing our offering to travel agents and tour operators.’
MHA MacIntyre Hudson reported fee income of £59.8m for year end March 2018 and was ranked 16th in the annual Accountancy Daily Top 75 Firms survey in 2019.
Earlier this year, the firm has completed a deal to merge its Kent offices with Percy Gore, a firm of chartered accountants based in Margate, in a bid to expand the firm’s presence in the region.
By Sara White