Steve met with a potential property investor last week, and was able to give him some great, practical tips to help him make a success of his new career. We were able to identify areas in which he could really maximise his return, and the kind of things he needed to consider when looking to invest.

If you need a listening ear or would like to drill down into the detail of a planned new business, let us know. Our initial appraisals are always at our expense, and you’ll get great ideas that will add real value to your business plan.

Steve met with Ian and Shaun to finalise the details of a handover of business from one generation to the next. Having worked with the business for over ten years, Steve was pleased to steer them through the potential minefield of share transfers, property reorganisations and recruitment. As Ian commented, “while the handover date isn’t for another two years, it’s never too early to start the planning”.

Work isn’t all about, well … work. Last week, Steve and Rachael attended two events on the same evening. The first was the opening of Mike Legassick’s (of Manning & Co) new office in Ivybridge, where we caught up with some old friends. Then, it was off to Plymouth Hoe to watch the National Firework Competition in a £1.5m penthouse (with rooftop pool), courtesy of Andy and Paul at Maitlands. Again, we met some interesting people, and had some great conversations. I guess the message here is to ensure you enjoy life amongst all the work. As Mike often says, “Life isn’t a dress rehearsal.”

Thanks to all for giving us such a good evening.

This week Andy had an interview with the AAT to feature in an article on technology within the accountancy profession which will hopefully be coming to print soon! We are all very excited …watch this space for a link to the full article!

Massive congratulations to Andy, who made it to the prestigious Accountancy Age 35 Under 35 2018. We are all thrilled that he has received this recognition – and against such stiff competition! We certainly benefit from his expertise here at Numbers (and so do our clients!).

Writes:

The 35 Under 35 ranking spotlights young talent in the industry who have made significant contributions to their fields in their careers to date. Read more about Andrew Sullivan:

Andrew Sullivan, Director, Numbers (UK) Ltd

Sullivan joined Numbers as a trainee and progressed through the company to his current role as director. He has led the firm’s digital transformation over the past four years and has assisted clients in streamlining their business processes through implementing software platforms.

Sullivan’s interest in technology has allowed him to develop a niche for forecasting and KPI reporting services to the client base and he has been part of Xero’s expert panel at a recent roadshow in Exeter.

… HOT OFF THE PRESS …

Thanks to the identification of R&D activity within one of our clients we have been able to ensure that they do not need to pay £28,288 of Corporation Tax by the end of September. AND, they have secured a repayable tax credit in excess of £33,000. That’s over £61,000 staying in their business. Developing any new systems or processes in your business? Talk to our team about how we can look into your entitlement for R&D Tax Credits.

Construction Company –
With the introduction of goodwill, we have managed to save over £21,000 in S455 tax improving the company’s future cash flow.

Building Developers –
By offsetting prior year losses, we have saved over £24,500 in tax!

If you’d like us to find savings for you, get in touch and pop in for a cuppa and a chat!

This week we are featuring Mike and Steve. Read on to see how they are ‘Making Lives Better’ (and get in touch if you think we could do the same for you!).

Mike

Mike completed some late accounts for a new client – they were thrilled that there was no tax to pay. and an estimated £1,300 to come back in R&D relief.

He also used the timing of the personal tax year for another client to counteract any tax due on dividends taken – this saved them £405 personally.

Steve

This couple has been clients of ours for many years. Due to careful management they had built up a sizeable cash pot and wanted to find a way to extract it without a huge tax cost. Steve identified a way in which the £90,000 can be put into their bank account at a tax rate of less than 7.5%.

Another couple are approaching their mortgage renewal date. Steve met with them and demonstrated how much better off they would be under various scenarios, meaning they can now approach this big decision with confidence.

Yet another couple has a successful start-up business. Steve took them through the advantages and disadvantages of limited company status, and calculated the point at which they would start to save tax. They can now plan for the future, knowing which structure is best for them, and the trigger point at which the limited company structure becomes viable.

The founders of one of our longest standing clients are looking to hand on their business to their son. Steve ran through their questions and explained how this can be made affordable for the son, without putting the founders into poverty for the rest of their lives.

Finally, Steve identified a way in which a family company can save £3,800 in Corporation Tax, simply by flexing the way in which they reward themselves. As part of that, he has delivered a further £5,000 of tax free income to the business owner.

Becca received the keys to her house this week – and she’s over the moon.

Now she and her partner will spend all their spare time ripping out fireplaces, kitchens, and decorating! She’ll likely come to work for a rest – phew!

Rachael gained a mark of 90% on her penultimate assignment for this year. She has now submitted her final assignment and is enjoying life with less pressure and deadlines!

Three more modules to go until graduation … there’s light at the end of the tunnel!