Tenon boosted by recovery services and new tax rates

BUSINESS advisory group RSM Tenon said yesterday its business had held up well over the first half of its financial year, driven in particular by its recovery services division.

Tenon, which completed the acquisition of RSM Bentley Jennison just before the period end in December, said it continued to perform in line with expectation during a period of “significant investment activity”.

Its recovery business grew by over 20 per cent on the first half of the previous year; a performance the group said it achieved by re-allocating resources from other business sectors.

Tenon also said it expects to benefit from more business in the second half of the year due to a predicted flood of enquiries regarding tax and financial planning prior to the introduction of the new 50 per cent top income tax band in April.