Borders accountancy firm to use Edinburgh as springboard for ambitious growth plan

An accountancy firm is to use Edinburgh as a springboard for expansion as it looks to capitalise on the post-pandemic working world.

The three Edinburgh focused directors with chartered accountancy firm Douglas Home & Co. L-R: Alan Drummond, Sheryl Macaulay, Darren Thomson. Picture: Ian Georgeson Photography

Tax and accountancy specialists at Douglas Home & Co believe their next wave of growth will be in the city as businesses and key employees reassess their position in the wake of lockdown.

The firm, which is headquartered in Kelso, is launching its new Edinburgh office after plans were paused by the pandemic.

Managing director Darren Thomson said: “We’re doubling down on our belief that Edinburgh is the platform to our continued growth.

“We believe that is even more likely now, because we are seeing the unintended consequences of the pandemic with so many key figures across multiple industries rethinking their career priorities.

“Some are choosing to retire early, while others are pursuing career changes they probably wouldn’t have contemplated before Covid-19. Either way it puts the emphasis on succession planning.

“We have seen a rise in businesses re-assessing their internal structures and financial positions.”

The firm now has four offices in the Scottish Borders, another in East Lothian and two in the north of England. It has attracted more corporate clients, on top of its core rural and agricultural customer base, driving the decision to expand into Edinburgh.

Thomson added: “Long before the pandemic we realised that Edinburgh was crucial to our future plans. More than 470 of our existing clients are in Edinburgh and the Lothians, with 190 of those being city based.

“Our goal as a firm is very clear – we want to add 100 further significant Edinburgh-based clients to our roster within the next five years. That is eminently doable, but we believe that having a base in the Scottish capital is absolutely essential to that end.

“The Borders remains our heartland. It was our incredibly loyal clients there that gave us the confidence to expand into Edinburgh and northern England. Now it will be our office in the city that is likely to unlock growth across central Scotland and beyond.”

The firm’s new capital base is located in Charlotte Square. In July, Douglas Home & Co reported a 4 per cent rise in turnover to £4 million for the financial year 2020/21.

A message from the Editor:

Thank you for reading this article. We’re more reliant on your support than ever as the shift in consumer habits brought about by coronavirus impacts our advertisers. If you haven’t already, please consider supporting our trusted, fact-checked journalism by taking out a digital subscription: www.scotsman.com/subscriptions