Nicolson Accountancy – Winners: Best in Norwegian Tax – UK
Wealth and Finance International Magazine has chosen Nicolson Accountancy, who run the Norway-Tax.co.uk website, as the winners of their prestigious award, and this is what they had to say about us.
Nicolson Accountancy is a multi award-winning accountancy practice providing accounting, tax and business advice to small and medium size companies.
“Our ethos is to provide top quality efficient services to our clients at a competitive price,” says Sue Nicolson, Director. “One of our specialist areas is Norwegian taxation services, and we are one of very few practices in the UK who can provide an all-round service to clients who work in the Norwegian sector with a thorough understanding of both UK and Norwegian taxation and how the two regimes work together. We are not a hierarchical firm and all staff report directly into a director. We are confident that when a client contacts the firm, they will be treated professionally by any member of staff.”
Norwegian tax and reporting rules are constantly changing and, Nicolson says, it is vital to stay abreast of this. “In addition, many UK contractors working in Norway believe that they do not have a residual liability to the UK HMRC which in many circumstances is incorrect. We are dealing with a lot more HMRC investigations into these types of cases which can result in high penalties and fines. Our advice to anyone who is working in the Norwegian sector is to ensure that your accountant understands both tax regimes and prepares both your UK and Norwegian tax returns correctly.”
The biggest change that the firm has seen over the past few years is the acceptance that an accountant doesn’t have to be local, Nicolson says. “Clients want to ensure that their accountant is knowledgeable and rates this above personal access. Many clients are embracing technology and are happy to deal with us via email and secure document portals, rather than face to face.”
Nicolson says the firm is “delighted” to have been named Best for Norwegian Tax – UK in the Finance Awards. “It gives us recognition for the hard work all of the team have put into providing world class Norwegian tax services to clients at a competitive price.” She attributes the win to the fact that the firm is one of very few accountants who understand both the UK and Norwegian tax sector. “Previously, clients have had to engage two accountants and pay double the fees with neither understanding the impact of what the other is doing. We can do everything under one roof, which keeps the fees competitive and provides a one stop shop.”
One of the firm’s biggest challenges over the past 12 months, and over the coming 12 months, is in ensuring that its clients remain compliant in Norway, says Nicolson: “That we ensure the move to online filing of employer returns is smooth and that we stay abreast of changing tax law in Norway.”
You can visit our specialist Norwegian Tax service at www.norway-tax.co.uk for up to date advice or follow us on Twitter @NorwayTax.