Top ten accountancy and advisory firm Azets has appointed a new Tax Partner as the firm seeks to develop an additional service offering.

Nick Cullen has been named as UK head of the recently launched transfer pricing team, which is set to challenge the Big Six firms. He has 15 years’ experience in delivering transfer pricing solutions for a range of clients from FTSE100 companies to owner-managed businesses (OMBs).

Nick joins Azets, the UK’s specialist business advisor to SMEs, after six years in a transfer pricing director development role at BDO, based in Leeds, and previously worked at PwC in a variety of tax roles. He said:

“This is a perfect challenge for me, both in terms of career development and in being at the forefront of setting up a new offering for such a progressive firm as Azets."

“What also appealed to me was that Azets is very much a national business, with senior people across all regions. Being able to offer a full breadth of transfer pricing services will enhance our ability to service larger, international clients and strengthens our position as a credible alternative to the larger firms.”

Leeds-based Nick is building a national team to include members located across the country and will be aiming to build awareness of the new offering both internally and externally. More specifically, Nick will assist clients with:

• Understanding the levels of supportable debt for Private Equity portfolio companies.

• Dealing with transfer pricing tax disputes.

• Ensuring that transfer pricing operating models are aligned with operational substance, and value creation.

• Supporting on implementation, documentation and operational aspects of transfer pricing operating models.

Since the launch of the Base Erosion and Profit Shifting project by the Organisation for Economic Co-operation and Development in 2013, transfer pricing has increasingly become a hot topic for international groups. This, in turn, has resulted in transfer pricing being high on the agenda for many stakeholders in businesses.

With the appointment of Nick, Azets can now offer a key service to its larger client base that is crucial in maintaining compliance across their global footprint. Nick added: “Transfer pricing is a complex area and our clients, ranging from groups who are just setting out on their international expansion, to larger and more established businesses, require support and advice to ensure that they remain compliant with transfer pricing rules across their global footprint.”

Becky Maguire, Office Managing Partner for Azets in Leeds, said:

“Nick is an important addition to our national and regional tax team and will be a crucial part of our growth strategy in the coming years."

“He has a deep understanding of the implementation and functional aspects of transfer pricing operating models as well as being an expert in thin cap analyses particularly in the private equity and leveraged buy-out market."

“He has hit the ground running and is busy building up his team, who will be a perfect addition to our locally delivered personalised client service offering in the UK.”