2025 Business Unit Year in Review

Before everyone’s out of office goes on and before we officially wrap up for the Christmas holidays, we wanted to take this time to reflect on the year we’ve had. 2025 has been transformative for AAB, from expanding into new locations to growing our teams and securing backing from Goldman Sachs Alternatives. Across AAB, we’re at an exciting time in our growth journey.

Our business unit heads have reflected on the highlights that defined the year for their teams, reflecting on some of the highs and lows of 2025 as they gear up for a new year filled with pushing boundaries together. Business unit heads- the floor is yours!

AUDIT

Development

“Reflecting on a year of growth, opportunity and prosperity is one of my favourite things at year’s end as Head of this amazing business unit. Last year, I said that I was confident 2025 would bring more opportunities and continue building on the successes of 2024- that’s exactly what we did.

Our expansion continued, and this year we welcomed three new partners across our locations. These appointments help strengthen our presence across England, enhancing the service we can provide for clients. We also had 4 senior promotions across Aberdeen, Bolton and Ireland this year, with Debbie Mullen becoming Audit Partner and Suzanne Villiers, Christina Torrance and Sarah Frith becoming Directors. Supporting the development of our team is so important, and it’s something I am always proud of.

The good news doesn’t stop there, we were shortlisted in the Accounting Excellence Awards, and while we didn’t win, we were honoured to have been a bronze award winner in Audit Firm of the Year, going on to win Tax team of the year and large firm of the year.

As we look ahead to 2026, the landscape of regulatory changes continues to shift with changes in FRS 102 accounting standards we’ve been supporting clients to navigate. This next year, we will be building on a platform of success, opportunity and a healthy sales pipeline.- Jim Pirrie

Business Advisory

Evolution

“2025 has been a year of real momentum for our Business Advisory team. It hasn’t been without its challenges, but the progress has been clear. One of our biggest achievements has been developing our Target Operating Model. It’s built around our clients. Around strong relationships. And around the insight, care, and connection our clients tell us they value most. 

We’ve also focused on bringing our teams together. The integration of our Bolton colleagues has enabled us to strengthen our presence in the North West of England. Being shortlisted as finalists for Xero National Firm of the Year and Tolley’s Tax Investigations Team was another highlight. A real nod to the quality of work being delivered every day.  

From a client perspective, the year began at pace. Increases to Employers’ National Insurance and the National Minimum Wage gave businesses little time to react. We worked closely with clients to forecast the impact and make informed decisions to keep them on track. On reflection, the measures introduced in the 2025 Autumn budget feel more future-focused. That gives business owners some breathing space to plan. Whether that leads to greater stability remains to be seen, but preparation has never been more important. 

Looking ahead to 2026, this could be a defining year for the Business Advisory Group. We’ll continue to embed and evolve our Target Operating Model while welcoming new colleagues across Wales and Southwest England. Our focus won’t change. A relationship-led advisory service. Clear thinking. And practical support that helps clients move forward with confidence.” – Neil Robb

CORPORATE FINANCE

Strength

“Headwinds influencing M&A activity. The team have been able to build upon strong momentum and a pipeline that has seen us complete over 65 deals across the UK and Ireland. 

Helping our clients achieve their goals is one of our key values, and we’ve been delighted to support some clients on multiple transactions. Some of our notable deals include advising on the acquisition of Thistle Healthcare on behalf of Enhance Healthcare, the acquisition of PDS Manufacturing on behalf of NorDan, investment in Harbro from Convent Capital and the acquisition of nZero by Bilfinger.

We’ve seen strong activity across a range of markets, including Energy & Infrastructure, Industrial & Manufacturing, Food & Drink, Health & Social care, Professional Services and Leisure & Hospitality.

We welcomed several integral team members this year. Paul Turner joined as a Partner in our Edinburgh office. We also welcomed two senior managers, Bryan Chambers and Connor Sprule. While bringing fresh expertise and knowledge into the team helps us strengthen, we are also proud to promote from within, and this year saw Ashok Thomas progress to Partner.

Looking ahead to 2026, our pipeline is well-positioned for a strong start to the new year. We anticipate another active year of generating new opportunities, growing and delivering for clients, new and old.” – Gordon Steele

HOTEL ACCOUNTING

synergy

“2025 has been a year of progress, collaboration, and innovation for AAB’s Hotel Accounting team. While the market has thrown its challenges, the real story of this year has been about improving how we work, both internally and for our clients. A major highlight has been restructuring our communications and processes to break down silos. This has created a more responsive, joined-up team and strengthened the way we deliver our services.

Technology continued to be a key driver this year. We’ve embraced automation to streamline tasks and processes, freeing our team to focus on areas that truly add value. This has allowed us to deliver a more robust and insightful service to our clients, helping them make better, faster decisions.

The hotel industry itself has seen a notable shift. Rising operational costs, including the increase in Employers’ NIC, have led to smaller hotels being acquired by larger groups or private equity firms. It’s a market in transition, and we’ve been preparing our clients to adapt and thrive through these changes.

Looking ahead to 2026, the implementation of the 12th Revised Edition of USALI will be a defining moment for the industry. Much of this year has been spent preparing both ourselves and our clients for these updates, ensuring compliance and giving teams time to embed new processes. This work has been a real point of pride for the team, as many in the industry are only just beginning to consider what these changes mean.

As we close out 2025, it’s clear that preparation, automation, and collaboration will remain at the heart of our approach. We’re excited for the year ahead, ready to support clients through this period of change, and committed to delivering results that make a genuine impact.”- Ian Bremner

PAYROLL & EMPLOYMENT

Clarity

“2025 was a year of opportunity for us in Payroll & Employment. Last year, we significantly expanded our capabilities and welcomed members to the team with specialisms that would enable us to provide our clients with an enhanced suite of services.  

This year, we’ve been able to add more specialisms and experience to the team. I was delighted to welcome Claudia Zwirn and Ciaran Devery to our Global Employment Taxes team this year. Their knowledge, experience and ability to service in the global employment space have been an asset to our teams.  

From an employment tax perspective, 2025 has been a year of clarity. After years of speculation and whispers, the Autumn Budget delivered a £2,000 cap on Salary Sacrifice from April 2029. This certainty allows businesses and employees to plan with confidence and maximise the benefits of the scheme in its current form.  

On the global mobility side, domestically, we continue to support our clients as they adjust to the abolition of the domicile concept and adopt the changes brought into effect in the last Autumn budget with the Foreign Income and Gains (FIG) regime, whilst collaborating with them to address the compliance challenges of operating globally mobile workforces across international borders. 

Our commitment is to turn complexity into opportunity. As we move into 2026, we remain focused on delivering clarity, compliance and strategic value for businesses and their people.” – David Purse

PEOPLE

Changeable

“2025 has been a busy and collaborative year for our People teams. Across HR, Health & Safety, Learning & Organisational Development, and Whistleblowing, we’ve worked closely together and across AAB to support our clients.

We were also delighted to welcome Natalie O’Hare in August as Client Services Director for HR. Natalie brings 15 years of HR consulting experience and a strong client-first mindset. In just a few months, she’s already made a real impact. Supporting clients. Leading the team. And driving growth in a thoughtful, measured way.

Legislation has added another layer of uncertainty. Throughout the year, we watched closely as the House of Commons and House of Lords debated the Employment Rights Bill. While some proposals have been softened, the direction of travel is clear. This will be the biggest shift in employment law for decades.

We’ve also seen whistleblowing rise up the agenda. With the ‘Failure to Prevent Fraud’ offence coming into force in September 2025 under the Economic Crime & Corporate Transparency Act, organisations are reassessing their reporting channels. Guidance highlights the importance of independent whistleblowing providers, and our team has been well placed to support clients through this change.

Looking to 2026, implementation of the Employment Rights Bill will begin from April and run through to 2027. The reduction in the unfair dismissal qualifying period has grabbed headlines, but many other changes will land first. We’ll continue to keep clients informed and supported as the detail unfolds.”- Louise McCosh

PRIVATE CLIENT

Opportunity

“As we near the end of my second full year as Head of Private Client, I’m proud of what we’ve achieved together—both within the Private Client team and across AAB.

This has been a year of change. Our transition in Private Equity ownership marks the beginning of a new chapter with Goldman Sachs Alternatives, bringing fresh opportunities for growth and development. Within Private Client, we’ve continued to modernise our approach by introducing automation into our compliance processes and progressing our preparations for Making Tax Digital. These steps ensure we stay ahead of regulatory changes and continue to provide clients with efficient, technology-driven support.

The Labour Government’s November Budget confirmed the Inheritance Tax reforms introduced in October 2024. These changes add complexity for many clients, but they also reinforce the value of clear, bespoke planning—something Private Client remains fully committed to delivering.

With some reforms taking effect from 6 April 2026 and others from 6 April 2027, the next 16 months will be an important period for clients to review their financial plans and understand the potential impact. This is a timely opportunity to assess priorities, refine strategies, and prepare with confidence.

Successive Budgets are reshaping the private client landscape, but they also create space for thoughtful and proactive planning.

As we head into 2026, our focus is on helping clients navigate these changes with clarity and assurance. Together, we can move through this evolving environment and support them in making well-informed decisions for the future.”- Paula Fraser

SUSTAINABLE BUSINESS & ESG

Stability

“2025 has been a year of growth and development for our team. Delivering consistently for clients across different sectors means truly understanding their businesses. It means sharing insight. Adapting to different stakeholder needs. And turning that knowledge into practical support that delivered strategic advantage to our clients.

We were delighted to welcome Louise Neilson earlier this year as Net Zero & Sustainability Lead. Her appointment has strengthened our offering and added real depth to what we can deliver. More importantly, it’s helped our clients gain clearer insight, build stronger strategies, and stay competitive while working towards their goals.

One of many standout moments this year was supporting a client to successfully draw down grant funding. A carbon inventory and decarbonisation strategy were required as part of the process. Our team delivered both. As a result, the client is now stakeholder-reporting ready and has secured the funding they needed to move forward. A great example of how the right support can unlock real progress.

Looking ahead to 2026, our focus is clear. We’ll continue to deepen our knowledge and stay closely aligned with market demand. Regulatory change across the UK, EU, and globally is still on the horizon. We’ll keep refining our propositions and expanding our services, so we can support more clients end-to-end and help them move forward with confidence.”- Alasdair Green

Tax

Brilliance

“It’s unbelievable to me that six months have passed since I joined AAB as Head of Tax, and what an incredible six months it’s been.

I can’t think of a better way to start my first year in review or my initial months in the role than with a win at the Accounting Excellence awards. We took home ‘Tax team of the year’, and the firm also won ‘Large Firm of the Year’. These awards are a testament to the hard work, dedication, talent, and sheer collective brilliance of our team.

We’ve begun our journey under Goldman Sachs Alternatives with a new Corporate Tax strategy that will utilise our collective talent to realise our 2030 ambitions. Developing and nurturing our existing talent is at the core of AAB.

This year, we have supported the development of over 32 team members, including 4 directors and one partner. I am incredibly proud to be part of this team.

I believe the key to our success in 2026 will be keeping things simple, continuing to prioritise our clients’ work to help them achieve their goals. With great people doing great things, great things can happen. Since we already have a great team, I am confident that 2026 will be another wonderful year where we go above and beyond together.”- Mark Lappin

VIRTUAL FINANCE FUNCTION

Impactful

“2025 has been another incredible year for our Virtual Finance Function (VFF). We’ve continued to grow, and we’re thrilled to welcome a new partner in Aberdeen, Andrew Webster. We’ve also seen two team members step up to director and 15 colleagues progress in their careers. It’s something I’m so proud of.

Demand for support hasn’t slowed. The pressures facing finance teams remain the same. Rising costs. Skills shortages. And the constant push to do more with less. Businesses still tell us they’re struggling to find the right resource at the right level. That’s where our VFF team makes a real difference. We give clients access to the expertise they need, without the strain of building large in-house teams.

As we prepare to enter 2026, planning for the changes to FRS 102 remains pivotal. For a lot of businesses especially for businesses with significant covenants, there’s no time to waste, and our team is ready to support clients to navigate this substantial shift.

Looking back over the year, I think it’s fair to say that the impact of our VFF team has never been stronger. We’ve grown the team. We’ve developed our people. And we’ve continued helping clients push through their barriers and focus on what matters. With a solid team behind us and the same drive that’s carried us thus far, we’re ready for the year ahead. And we’re here to help our clients face 2026 with confidence.” – Lauren McCluskey

WEALTH

Expansion

“As 2025 comes to a close, I wanted to take this time to reflect on the year we’ve had and the amazing moments we’ve been able to achieve together. Nothing would have been possible without the partnership, support and trust of our amazing clients and the hard work of our teams. In a year full of highs, opportunities and strengths, I wanted to pull out a few key milestones to share with you:

This year, we continued to implement our strategic growth plan, acquiring London-based Magus Wealth and Integrity Financial Management. These acquisitions strengthened our presence across the Southeast of England, bringing the number of families we serve to 1850.

Following our strategic growth journey, we underwent a strategic brand consolidation. Why? We wanted to streamline clients’ access to a broader range of services, including personal tax advice, continuing the trust and quality they deserve.

Our growing team were honoured to win the Verve award earlier this year. This is an award that historically only shone a light on individuals; however, our whole team was recognised for collectively demonstrating innovation and graft. We truly wouldn’t be able to celebrate these accolades without our amazing clients trusting us every day.

The focus and plan for 2026 remains unchanged, supporting clients to achieve their financial goals and providing them with the clarity and confidence to live them. Each milestone we’ve been able to celebrate is a testament to what we’ve built together.

I wish you a prosperous 2026, and on behalf of everyone at AAB Wealth. I wish you and your families a very Merry Christmas and a Happy New Year.”- Andrew Dines

Wrapping Up the Year

As we wrap up this year and look to the next, we want to thank our clients, partners, and teams for being at the heart of everything we do. We are proud of what we’ve achieved together in 2025 and look forward to continuing to support our clients, and teams, in achieving their goals in 2026.

We will continue to share more insights on topical news and developments, so make sure you’re following us on LinkedIn to keep up to date.