Helping you arrive at your strategic destination. Aviation & aircraft leasing PRECISE. PROVEN. PERFORMANCE.

Transcription

1 Helping you arrive at your strategic destination PRECISE. PROVEN. PERFORMANCE.

2 2

3 Helping you arrive at your strategic destination Today s fast-moving global environment creates many business challenges. Moore Stephens provides high quality, integrated advice and support to help international aircraft leasing companies reach their strategic destinations. The aviation sector has seen exponential growth in recent years, with over 30% of commercial aircraft now being owned by leasing businesses. Aviation businesses face many challenges: whether creating a business structure that achieves operational objectives while also delivering a tax-efficient outcome; implementing a risk management strategy while also controlling costs; or raising finance in the optimal form and jurisdiction. As the marketplace continually evolves, so do the precise nature of these challenges and the priorities of individual management teams and business owners. At Moore Stephens we understand your need for professional expertise based on a deep understanding of the dynamics of the aviation sector. We realise the value of providing an international service that delivers advice and solutions where your business operations are located. We believe that integrated, one-stop-shop services provide maximum impact for you, and in a cost-efficient manner. How we can help We offer a full range of accounting, assurance and business advisory services, all of which are tailored to meet individual client needs. Research and development R&D can be costly, not only in itself but also in the fact that payback can take months if not years, but it needs financing. The UK has some of the most effective tax reliefs available for this type of expenditure in the form of R&D tax credits under approved Government legislation. Our specialist Innovation & Technology group comprises engineers, software programmers and scientists, as well as specialist finance professionals such as auditors and tax accountants all of whom are experienced in claiming R&D tax relief. Since the scheme began in 2000, our team has successfully claimed back around 250m for our clients across all business sectors with a 100% success rate. 3

4 International tax The growth in the global economy means an increase in cross-border transactions. With foreign tax legislation comes a wealth of opportunities and pitfalls in structuring your supply lines and operating structure around the globe. International tax solutions go far deeper than merely direct tax, with issues such as foreign custom duties, VAT and transfer pricing also requiring attention. Moore Stephens International s association of member firms provides access to a comprehensive international tax planning service and all the international tax and commercial information you need to enable you to grow your global business successfully. Business structuring We advise international businesses on optimal group structures and operational locations, depending on corporate goals and priorities. We combine our business, tax, corporate finance and sector knowledge to help clients make appropriate strategic decisions. Audit and assurance We provide a full range of audit and assurance services, from statutory audits to focused assurance assignments on specific issues. We apply our technical accounting expertise to help clients apply new accounting standards, whether arising under IFRS, UK and US GAAP, or the accounting regimes of other major jurisdictions. We also provide outsourced internal audit services, as well as support and advice to in-house internal audit teams. Business finance Our corporate finance experts advise on all forms of fund-raising, including debt finance, bond issues and listings on international stock exchanges. We also have a successful track record in advising clients on all forms of corporate transactions, including buy-ins and buy-outs, disposals, acquisitions and start-ups. Tax Our broad tax expertise enables us to meet all clients tax needs, from compliance with international regimes to optimal tax planning. We have experts not only in corporate taxes, including sales and payroll, but also in personal tax. We have long-established expertise in advising high net worth individuals on how to both minimise their personal tax costs, and protect and maximise their family wealth. Governance, risk and assurance The management of risk and implementation of robust corporate governance has become an increasingly important aspect of global business. Rhiza, our risk management tool, enables us to identify any risks and opportunities, so that we advise the aviation sector on their governance structures and control environments, helping to embed transparency and accountability. VAT VAT is a complex tax which affects most businesses and organisations. Whether it s completing and submitting quarterly VAT returns or considering the implications of specific transactions, getting it wrong can be a costly mistake. Our sector experts know enough about your business to anticipate risks and opportunities. 4

5 Information and cyber security The risk of cyber-attack is growing exponentially as the opportunities presented by technology and improved systems connectivity grow. Breaches in the confidentiality, integrity or availability of organisations data is significant, but the loss of customer or stakeholder trust could be terminal. Our range of capabilities and in-depth technical and cyber security skills are cost effective and can help you stay compliant with the new General Data Protection Regulation, as well as: educate your senior management and employees; assure your process and technology; architect your risk, policy, technology and standards environments; manage your security operation. Business outsourcing Outsourcing your financial and administrative functions will allow your business to focus on what is important. Our team can support you with the design and implementation of new financial processes, establishing a new company, bookkeeping, staff payroll and compliance with changing tax regulations structuring a solution to fulfil your requirements. Moore Stephens provides Lease Corporation International (LCI) with a full suite of products, ranging from audit through to advisory services. Moore Stephens has been advising LCI since the incorporation of the company and as a fast-growing, international aviation business, we leverage their global knowledge-base and overall responsiveness on an ongoing basis. Jaspal Jandu Chief Financial Officer Lease Corporation International 5

6 About Moore Stephens What makes us different? Access to the right people: we are one of the leading transport accountancy and advisory firms in aviation, shipping, passenger transport, logistics and rail. Our specialist team has dedicated professionals in all leading aviation hubs, meaning that you ll have easy access to the right people, whenever you need them. A consistent team: the breadth of expertise within our firm enables us to provide an integrated solution to client needs a one-stop-shop for efficient and effective advice and services meaning you ll have more trust in the people you work with. Network coordination: we are able to draw on the expertise of our Moore Stephens International network, particularly our aircraft leasing team in Dublin. In the past three decades, Ireland has grown into a leading worldwide centre in aviation leasing, and if your business and personal interests need, we ll make it happen. Support & guidance: we pride ourselves on finding innovative solutions in a cost-effective manner and as new risks and opportunities present themselves to you, we will support and guide you through them. Our credentials Moore Stephens International member firms and staff demonstrate their professional expertise and aviation sector knowledge in numerous assignments, including: acting as the auditors of the Civil Aviation Authority (CAA); audits and consultancy assignments for numerous airlines including Alitalia, Australian Jet Charter, Boeing, EasyJet, Execujet, Germanwings GmbH, Lufthansa, Skyline Asset Management Ltd, Sibir Airlines/S7 and Tunis Air; an investigation of contracts, financial statements and other documents to identify the presence or otherwise of state aid following the privatisation and sale of Austrian Airlines to Lufthansa; an investigation for the European Commission into whether preferential terms were offered by Bratislava airport to attract the business of a low budget airline; acting as auditors and tax advisers to a number of Irish aircraft leasing companies, private aircraft operators and ground handling companies; advising a commercial flight training school in Ireland; an investigation of contracts, financial statements, accounting documents and other relevant information to identify the presence of otherwise or state aid with regards the restructuring and privatisation of Olympic Airlines; acting Head of Internal Audit for National Air Traffic Services Limited (NATS), including projects and procurement; risk management projects such as project assurance for aviation sales website OPODO, review of BA Holidays reservations systems and internal audit at First Choice (including specific reviews of airline IT); advising the shareholders of a privately owned airfield on the sale of the company; advising as a Government owned aviation company on the financial reporting impact relating to the aquisition of a fleet of aircraft in accordance with IA517 and IFRS16; a valuation of the UK s leading infrastructure assets in the aviation sector for the UK Government with an EV of 2billion; acting as auditors and tax advisers to corporate entities who own and operate private aircraft. 6

7 Key global shipping and transport contacts Africa South Africa Durban Jeff Blackbeard Americas USA New York Michael Halkias John Repetti Brazil São Paulo Sérgio Lucchesi Filho Asia Hong Kong Helen Tang Singapore Chris Johnson Europe UK London Michael Simms UK Ireland Eoghan Bracken Cyprus Limassol Christos Christodoulou Greece Piraeus Costas Constantinou Monaco Andrew Gallagher Netherlands Rotterdam Michael Bick Norway Oslo Bjørn M. Naustheller Middle East UAE Dubai John Adcock 7

8 About Moore Stephens We help you thrive in a changing world. We provide all the support and guidance you need to deal with new risks and opportunities. We ensure easy access to the right people, so decisions can be made quickly and confidently. A consistent team will partner with you to support your aspirations and contribute to your success. You ll have access to a range of core services, including audit, accounting, tax, risk and systems assurance, corporate finance, restructuring and insolvency, wealth management and disputes analysis. As a Top 10 accounting and advisory network we support a broad range of individuals and entrepreneurs, large organisations and complex international businesses. If your business and personal interactions need to expand, we ll help make it happen coordinating advice from a network of offices throughout the UK and in more than 100 countries. Contact information If you would like further information on any item within this brochure, or information on our services please contact: Daniel Henwood Partner, Assurance & Advisory daniel.henwood@moorestephens.com Cassie Forman-Kotsapa Partner, Assurance & Advisory cassie.forman-kotsapa@moorestephens.com Jonty Clark Director, Assurance & Advisory jonty.clark@moorestephens.com Robert Noye-Allen Partner, Governance, Risk & Assurance robert.noye-allen@moorestephens.com Philip Parr Partner, Tax philip.parr@moorestephens.com Moore Stephens LLP, 150 Aldersgate Street, London EC1A 4AB T +44 (0) We believe the information contained herein to be correct at the time of going to press, but we cannot accept any responsibility for any loss occasioned to any person as a result of action or refraining from action as a result of any item herein. Printed and published by Moore Stephens LLP, a member firm of Moore Stephens International Limited, a worldwide network of independent firms. Moore Stephens LLP is registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales. Authorised and regulated by the Financial Conduct Authority for investment business. DPS39489 May 2018