MacRoberts sees profits fall after end of Rangers tax case

Profits at MacRoberts fell by 28 per cent in the year after it gave £2 million of advice on the Rangers tax case, The Herald reports.

The firm’s turnover fell by 12 per cent to £17.5 million in 2016/17, while profits fell by 28 per cent to £5 million, according to figures filed with Companies House. The profit figure is the lowest since the firm became a LLP in 2008.

John Macmillan, managing partner, told The Herald: “We had a really stellar year in the preceding year because of a particularly enormous piece of litigation we were involved in. There was a huge step up in those accounts from various years before that.

“The litigation was always going to be limited and had a beginning and an end. It ended in May 2016 but had made a huge contribution in the 2015/16 year that didn’t repeat at all in 2016/17.”

However, Mr Macmillan (pictured) said said the firm is “very pleased” with its performance and is targeting expansion in Edinburgh and Dundee.