Specialist accountancy services
Our expertise in business management support services enables us to conduct due diligence reports on the purchase of a new business.
As part of this process or as an exercise in itself we frequently undertake projections and budgets for use by new and expanding businesses or in relation to the purchase of an existing business. We have undertaken assignments on the instruction of equity finance providers to report on investments they have made in private trading companies.
The growth in the property market has led to many more participants in this sector. We act for property developers, contractors to companies to construction management companies. Particular areas of concern are VAT, employment status and the regulation of the CIS scheme.
A particular accounting issue is the efficient recording of job costing enabling accurate information to management and work-in-progress calculations. Hopefully the successful business results in healthy profits and tax planning work including tax efficient extraction of profits, perhaps in the form of property.
Financial Service Companies
The particular issue here tends to be the requirement for statutory audit in view of the FCA registration. We benefit with a specialist in the form of our sister company Independent Auditors LLP to be completely up to date with the differing FCA reporting requirements of directly regulated or appointed representatives.
We also have an associated firm CTS (Contractor Taxation Services) which has for many years specialised in the needs of one man companies who contract or consult in for example IT, Engineering, and Professional Services. Of course the same principles apply to many other company situations and the efficient management of such companies is essential.
We advise on the application of IR35 and review contracts with this in mind.
Many clients invest in property in many ways. Personally, through companies, through Trusts which include approved and unapproved pension schemes in commercial or residential properties. We have a broad range of experience in all forms of property investment and tax and practical considerations of each.
We have a particularly strong background in this sector acting for a wide variety of types of recruitment consultancies. Our involvement tends to be very hands on including monthly management accounts, budgets, comparison of budget to actual, statutory accounts, audit, tax compliance and tax planning advice.
The particular issue tends to be ensuring payments to contractors and employees is matched to recharges made to clients and is often a responsibility we undertake on behalf of our client.
Residential and care homes
Another sector we have represented for many years through the many changes in the laws and regulations applying within the care industry. As they are capital intensive businesses, cash flow management can be critical, as is payroll and the nature of expenditure incurred by the home.
Capital taxes are particularly relevant, mainly on the disposal of the business and we have excellent experience in advising on extraordinary situations arising in this circumstance.
Legal & Professional
We act for a number of professional service offices including solicitors and chartered surveyors.
Clients money regulations are significant factors for these clients as these areas are highly regulated and strict deadlines apply. We include in this general heading dentists who have their own specialist requirements
Tax planning is always a consideration including the most appropriate trading medium allowed by the professional body which may include an LLP or limited company.