A progressive, South West based accountancy practice


Music lovers?

If you enjoy music, but don’t enjoy being put on hold by HMRC and listening to the interminably repetitive tune that is played out, let us take the strain for you. It hasn’t really sent us all mad here … well, maybe just a bit!

Enjoying the fruits of their labour

Dave and Shane have various projects which came to completion this year. Now, they want to extract some of the profits and enjoy them! Steve was able to show them how the careful planning put in place in previous years had saved them tax. Steve also took them through the slightly complicated profit allocation which maintains fairness between them and the outside investor.

Fighting HMRC – year 5!

A client has been subject to a tax enquiry that has gone nowhere over the five years since it was open. Steve explained how the enquiry could be closed down, and prepared a brief for the QC who will defend the client against recovery action taken by HMRC. The client left with peace of mind that he does not need to pay up simply because HMRC think the tax is due, and knowing that we can correct the misleading information provided to the judge at a recent Court Hearing.

Thinking outside the box

A client has lent funds to his family property company. Currently, he does not use all his personal allowance. Steve identified a way to save the company corporation tax without incurring a personal liability. £1,900 tax will be sheltered.

We help ex-clients too

Steve had a visit from a client whose company we helped to sell last winter. He was bemused by the tax being deducted from his various pensions. An afternoon’s work secured a refund of £3,300, which is being repaid tomorrow!

Making sure the plans work

Steve used one of our exciting apps to review a client’s business proposal last week. Donald and Teresa have worked very hard over the past five years without receiving their due reward. This year is their “make or break” year, and they changed their business model. Using their own figures, and in discussion with them, Steve was able to demonstrate, in real time, how their changes would deliver the income they wanted and more.

And on top of that, we are able to give them their own copy of the App, which means they can run more “what if?” scenarios at leisure! Never again will they have to guess whether their plans will give them the result they want!

A separate meeting saw Steve advise two siblings on the tax implications of plans being made to pass on the family farm. They walked away with a clear vision of what was fair, and what taxes might be involved. So pleased with the advice, one asked Steve to quote for his personal company accounts!

What do I need to do?

If you are planning changes in your business, why not pop in and see if they will actually deliver what you want. It may save a lot of wasted time and effort, and it will give a chance to use this new software again!

Every business has potential

Steve met with two long standing clients planning a handover of the business from stepfather to stepson. Using our diagnostic software, we identified a £27,342 improvement in annual profits, showing that the plan can deliver the income in retirement required by the father.

We can offer a second opinion

Steve was asked to help a wife being divorced by her husband. Steve reviewed the valuation of the business prepared by his accountants, with the result that the lady is in line for £177,500 of additional funds as a result. This will allow her to pay off her mortgage and give her peace of mind as she faces life a single mum.