RSA funding secures major financial services presence in Glasgow
£1.7m grant offer will help create KPMG Tax Centre of Excellence in financial district
Scottish Enterprise has been working with global professional services firm KPMG to establish a new Tax Centre of Excellence in Glasgow’s financial district.
The company, which had been considering alternative locations in the UK and abroad, made its decision after receiving an offer of up to £1.7million in Regional Selective Assistance (RSA) funding.
The new centre will bring more than 150 jobs to the city from this summer, when it will begin handling tax compliance work from the firm’s 22 other UK offices. A ten-year lease has been signed at 123 St Vincent Street.
Lena Wilson, Chief Executive of Scottish Enterprise, said: “We’re delighted that KPMG have chosen to base their Tax Centre of Excellence in Scotland.
“It’s a testament to the quality of the Scottish workforce, and the strength of our business community, that this major new investment is coming to Glasgow. We look forward to working in partnership with KPMG as the project continues to develop.”
Cabinet Secretary for Finance, Employment and Sustainable Growth John Swinney also welcomed the announcement, saying: “KPMG is a prestigious company, and the fact that they have decided to open their new Tax Centre for Excellence in the heart of Glasgow is a real coup for Scotland.
“The new facility will help to create more than 150 jobs for the people of Scotland while also helping to enhance KPMG’s compliance services across the UK.
“Scotland offers companies a well-educated and trained workforce, competitive infrastructure and supportive government agencies, and this investment is a terrific example of how our international reputation pays off.”
Recruitment for the new centre will start in mid-April with the firm looking to fill a variety of positions, many of which will be available with flexible working hours, from a variety of groups such as graduates, new parents returning to work, or more mature professionals looking for a different career path.
Jane McCormick, KPMG’s Head of Tax & Pensions in the UK, said: “The new UK tax centre of excellence is a major strategic investment for KPMG which will enhance the level of compliance service we provide to clients across the country.
“Our investment means that we continue to be at the leading edge of compliance delivery to our clients. Our investment in technology will complement our dedicated team of compliance experts to enhance the local relationships we already have with our clients. Creating this dedicated tax compliance team in Glasgow allows our tax professionals across the UK to focus on providing high quality client advice in an ever-changing fiscal environment.”
Craig Anderson, Senior Partner at KPMG in Scotland, said the new centre would be a very welcome addition to the firm’s existing presence in Scotland:
“Glasgow faced stern competition from a number of other locations. What won it was a combination of a high quality resource pool and accommodation coupled with enthusiastic and tangible support from local Universities and Scottish Enterprise.
“In what remains a challenging economic time for many businesses and individuals, we are delighted to be able to welcome this fresh investment and offer many people the prospect of an exciting and rewarding career at KPMG.”
For further information from KPMG, please contact:
Campbell Hart on 0141 333 9585 or 07772 587292 or at campbell.hart@bigpartnership.co.uk
Phil Addicot on 0141 333 9585 or 07824 666 956 or at phil.addicott@bigpartnership.co.uk
For further information from Scottish Enterprise, please contact:
Joan Grady on 0141 242 8338 or 07825 720886 or at joan.grady@scottishenterprise.co.uk
About Scottish Enterprise & Scottish Development International:
Scottish Enterprise is Scotland's main economic development agency and aims to deliver a significant, lasting effect on the Scottish economy by identifying and exploiting the best opportunities for economic growth.
Scottish Development International (SDI) is a partnership between the Scottish Government, Scottish Enterprise and Highlands and Islands Enterprise, which works to attract inward investment to Scotland and helps Scottish based companies to trade overseas.
About Regional Selective Assistance:
Regional Selective Assistance (RSA) is the main national scheme of financial assistance to industry. It provides discretionary grants to investment projects that will create and safeguard employment in areas designated for regional aid under European Community law.
Payment of RSA is made in instalments, typically over several years as job and capital expenditure targets are met. Not all projects will proceed, and nor do all accepted offers result in full payment, as projects are sometimes scaled down or abandoned before payments are made. The figures quoted represent the maximum grant potentially payable if the project is satisfactorily completed, and not the amount actually paid to date. All job numbers are firms’ forecast figures, and are subject to change depending on future economic conditions and other factors affecting the businesses concerned. For more information go to http://www.scottish-enterprise.com/rsa
About KPMG:
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.