Highlands accountant in EOT first for Scotland
Stuart Walker: first for Scotland
A Scottish firm has become the first employee-owned full-service accountancy firm in the country.
Reid & Fraser chartered accountants has operated in Thurso and Wick since 1915 and all 17 staff will switch to an employee ownership trust following advice from Ownership Associates.
Stuart Walker, director, believes the move towards employee ownership secures the future of the firm.
“We have loyal employees who have developed relationships with our clients, so adopting employee ownership felt like the obvious route to take. It was an easy decision,” he said.
The employee ownership trust was introduced in the Finance Act 2014 to encourage companies to consider a sale to employees as a feasible succession solution.