Our environmental experience
Some of our clients in the environmental sector include:
- International Carbon Reduction and Offset Alliance (ICROA)
- The Carbon Neutral Company
- Land Use Consultants
- PMSS
- The Energy Saving Trust
The International Carbon Reduction and Offset Alliance (“ICROA”) 
ICROA is a not-for-profit alliance of leading carbon reduction and offset providers. ICROA members support a reduce-and-offset approach to carbon management and they all comply with the ICROA Code of Best Practice (‘the Code’) - a unique and innovative voluntary self-regulation providing transparent and enforceable rules for the ways carbon reduction and offset providers should go about their business in the voluntary carbon market.
Working closely with the ICROA Secretariat and working group members we assisted with the design and development of the ICROA Validation Process, drawing on our extensive knowledge of financial and non-financial assurance experience, and the carbon market to help refine ICROA’s audit process. We also assisted with the development of the detailed checklists and pro-forma documentation for sign off by each member and their auditor.
“Smith & Williamson understands many of the intricacies of this complex and fast-changing business sector and has designed a practical validation process for member companies around the world, ensuring that ICROA member companies adhere to the ICROA code of best practice and can be publically audited against the ICROA code. Smith & Williamson’s own ideas and their collaborative ways of working have produced an excellent result from a challenging task.” Jonathan Shopley and Tom Stoddard, co-chairs of ICROA.
The Carbon Neutral Company 
Resolving the HMRC challenge
The Carbon Neutral Company is a world leader in carbon consulting and carbon offsetting. Work involved helping HMRC establish a precedent for the VAT treatment of ‘carbon offsetting’ services with our client. We were first approached after receiving a challenge from HMRC concerning the VAT treatment of the ‘carbon offsetting’ services they offer. By selling ‘carbon credits’ for CO2 emission reductions, they had effectively created an entirely new market. Without a precedent to follow, Customs Headquarters were unsure how to classify these new products under the VAT Act. We worked with both the client and HMRC to agree an interim solution. The VAT treatment we devised was agreed by HMRC, pending a long-term decision to be made by Customs Headquarters’ lawyers. As well as resolving the HMRC challenge, our solution allowed our Carbon Neutral to develop a strong competitive advantage, simplifying the way they charge VAT and enabling them to create a VAT effective structure for the services they offer their clients. This added benefit has helped our client to win some household names and grow their brand.
Land Use Consultants 
We were appointed as audit and tax advisers to Land Use Consultants (LUC) in 2009 following a formal tender process. LUC is one of the UK’s first specialist environmental consultancies, dedicated to conserving, protecting and enhancing the environment.
PMSS
PMSS is a leading independent UK renewable energy consultancy and listed in the Sunday Times Virgin Fast Track 100 in 2009. As their financial advisers we provide external audit and tax services as well as working with them to grow their business.
Energy Saving Trust
We were appointed as external auditor to the Energy Saving Trust in 2008 following a competitive tender. The Trust is an independent UK-based organisation focussed on promoting action that leads to the reduction of carbon dioxide emissions. Our work involves advising on accounting and tax compliance matters and carrying out the annual external audit of its financial accounts. This involves obtaining a good understanding of the activities and risks the Trust manages in the context of its mission to improve the UK’s emissions position. Additionally we also carry out work in connection with certifications required by grant funders.
