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SBP Chartered Accountants Reels in New Business

A North-east accountancy firm specialising in the fishing industry has seen a large increase in fishing clients over the past few months.

SBP Chartered Accountants, which has offices in Aberdeen, Peterhead, Fraserburgh and Banff, has signed eight new Shetland-based fishing clients since April, all of whom will be managed by the Peterhead office. The company, with offices near major fishing hubs of the North-east, has a number of clients across the fishing industry.

Under SBP’s direction, fishermen earning more than £25,000 a year can establish themselves as a limited company, which has direct financial benefits for the individual.

Managing Partner John Hannah says that fishermen earning £25,000 a year can save more than £2,000 in taxes if they operate as limited companies rather than sole traders and the more they earn, the more they can stand to save on taxes.

Mr Hannah said: “We are delighted that so many fishermen are coming to us for their tax needs. Given our long-established history in Peterhead and Fraserburgh, we consider ourselves one of Scotland’s fishing accountancy experts, and are honoured to serve the industry.

“We deal with share fishermen, fishing boats, fishing authorities and many other related trades in the local harbours and can be classed as one of the biggest fishing-related accountants in Scotland.”

Mr Hannah said that many clients are seeking out SBP through word of mouth from other fishermen. One such customer is James Anderson, head of J. Anderson Fishing Ltd. and skipper of the Alison Kay. Mr Anderson appointed SBP as his accounting firm nine years ago.

Mr Anderson said: “Becoming a limited company has been very advantageous for me from a tax point of view. I speak to other fisherman that are not using this service and find that I’m paying much less in taxes than they are.”

SBP Accountants, which has been in business for more than 40 years, has 33 members of staff across its four North-east branches. The company provides assistance in accountancy, taxation and audit services, among other financial services.

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