British accountancy firms developing stronger ties to China

Schoolgate accounting group, which is also now a partner of the CBBC, made the decision to set up a China desk in the head office in Wimbledon in August.

The Chinese-Britain Business Council helps British and Chinese businesses work together across both countries and beyond.

It has over 1,000 members and works with local enterprise partnerships and cities to drive local economic development.

Luda Beanland, Schoolgate’s Managing Director said: “with the UK wanting to attract more trade and investment from China once it leaves the EU, we see this as an excellent time to expand our offering and provide bespoke support to Chinese companies expanding in the UK, and entrepreneurs looking to start a business here.”

Schoolsgate provides services to investors in accounting, bookkeeping, taxation, payroll, international tax matters, and management accounting.

Annie Qian, who will be heading the desk, commented: “Schoolgate prides itself on quality of service and in particular, understands the importance of cultural sensitivity when dealing with business partners from overseas. Building on the experience of our successful Russia Desk, we are looking forward to increasing our contact with Chinese businesspeople and helping many more to expand in the UK.”

It isn’t the only British accounting firm to set up a China desk, a partnership with Chinese companies and investors is an attractive prospect for British businesses as Brexit creeps closer.

Firms such as PKF-Francis Clark and Mazars offer services similar to Schoolsgate in an effort to act as “a bridge between Chinese companies and Europe”.

Liam Fox, Secretary of State for International Trade, has highlighted the importance of UK-China relations in the post-Brexit economic environment.

In an op-ed in the Telegraph, he said: “My Department for International Trade is helping businesses in both countries realise these opportunities and further a trading relationship already worth £67.5 billion through our working group with China.”

With the Shanghai-London stock link approaching its opening date, partnerships between China and Britain will only grow.