GML supported a leading accountancy firm to build a stronger regional Indirect Tax practice by identifying, attracting and retaining a new Partner.
Together they created and achieved a 3-year growth plan. Taking the business from approximately £500k to £2m alongside recruiting a larger team and delivering £1m in gross contribution.
The challenge
The firm needed an Indirect Tax Partner to grow the local offering to support a wider regional tax plan that aimed to double tax revenue in approximately four years.
The region lacked a local figurehead who could lead the team, be in the market and build a well placed, profitable and sustainable business. The existing team was also top heavy and under leveraged.
The appointment
GML identified three established Directors with relevant experience.
Working with the client they selected an individual who brought deep expertise in specialist sectors, locally and nationally. They had an excellent track record of personally building an Indirect Tax portfolio and winning two flagship cross tax accounts generating in excess of £1m.
In addition, they had first class technical advisory experience including a win at the CJEU. This combined technical credibility with client leadership, team development and experience of the wider tax agenda meant they were clearly the right choice.
The process
GML supported the firm and Partner designate through a rigorous Partner recruitment process that involved:
- Initial introductions and buy in from the Partner designate.
- Meetings and support from all senior stakeholders including the Office Managing Partner, Regional Head of Tax, National Head of Tax, National Head of Indirect Tax, Partnership Council.
- Honing a business plan that resonated with the firm’s Senior Leadership Team and empowered the Partner designate to create something that felt personal and realistic.
- Technical and Risk meetings.
- Governance and Business plan panel meetings.
- Negotiation of remuneration and expectations in the short to medium term (1 – 3 years).
- Resignation and guidance on exit.
The strategic opportunity
The business case set out three priorities.
- Local leadership – A visible partner would lead the local teams and strengthen the regional market presence.
- Regional and national growth – Specialist sector expertise would support the firm’s wider growth strategy nationally.
- Sustainable team growth – Recruitment would reduce the top-heavy structure, create development capacity, and establish the foundations for long term growth.
The incoming leader would also collaborate across tax, audit, advisory and M&A.
The business case also projected the following over three years:
- Fee revenue.
- Team size, structure and cost.
- Gross margin and gross contribution.
The results
Across the three years, the plan created:
- £4.5m in cumulative VAT revenue.
- Increased gross contribution from £550k in Year 1 to £1m in Year 3.
- A well structured and leveraged team primed for realistic and sustainable growth.
GML impact
GML helped Heads of Tax test the commercial case for senior appointments and identify leaders who can execute it.
For this opportunity, one senior appointment supported a plan for £2m in annual VAT revenue, a 10-person team and £1m in gross contribution by Year 3.
The firm achieved the plan and delivered more than the original business case anticipated.
The result shows how recruitment can support service line growth when the appointment combines technical credibility, client leadership, market expertise and a practical team building plan.