Smith & Williamson advise Virgin Wines on tax re-organisation and AIM IPO

  • Written By: Jasjeet Dhillon
  • Published: Thu, 01 Apr 2021 10:08 GMT

Smith & Williamson’s Birmingham team advise Virgin Wines on tax re-organisation and AIM IPO.

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The corporate team at Smith & Williamson’s Birmingham office, led by partners Matt Watts and Stephen Drew, has advised Virgin Wines on their pre initial public offering (IPO) re-organisation to ensure tax efficiency and to help facilitate their successful listing on AIM, along with acting as Reporting Accountant.

The project involved experts across Smith & Williamson’s tax, VAT, employment, transaction services and audit teams. Matt Watts commented: “We are delighted to have had the opportunity to work with the team at Virgin Wines on such a momentous step forward for them. This was a real team effort, where we leveraged the breadth of our corporate advisory experience to deliver a pro-active and comprehensive service. Advising such a fantastic business highlights our ambition as a firm to work with and support growing entrepreneurial businesses.”

Working closely with the team on the tax re-organisation project, Annabel Mason, Associate Director at Smith & Williamson, said: “Virgin Wines has big expansion plans. The IPO is a key stage in their growth plans and advising them has been really exciting. We look forward to seeing them continue to succeed on their growth journey.
Founded in 2000, Virgin Wines PLC is one the UK’s largest direct consumer wine retailers. The company has sold over 100 million bottles of wine and in 2019 launched an extensive range of craft beers and spirits. The company intends to create their very own exclusive products in the near future.

Graeme Weir from Virgin Wines said: “Matt, Stephen and the team at Smith & Williamson have provided excellent support and advice. Virgin wines is a distinctive, fast-growing direct-to-consumer retail business with a unique wine sourcing model and a loyal customer base. Our listing on AIM signifies a very exciting chapter in the group’s long-term development.”

Virgin Wines’ shares were admitted to trading on AIM on Tuesday 2nd March.

By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. This briefing does not constitute advice nor a recommendation relating to the acquisition or disposal of investments. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.

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Registered to carry on audit work and regulated by the Institute of Chartered Accountants in England and Wales for a range of Investment business activities. A member of Nexia International.


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