Tax planning on sale of company
The principal shareholder of a company for whom we did not act approached us to advise him on tax mitigation on the sale of his private company. After a successful negotiation with the potential purchaser, our client was able to sell his company for an amount in excess of £7m at a considerably reduced tax cost to him.
A large American company had, for almost two years, been running a U.K. operation without adequate accounting or tax administration in place. We were able to recreate the U.K. company's accounting transactions and obtain a large VAT repayment which arose out of the work that we carried out.
Personal tax planning
A client had incurred several million pounds of capital gains in one year and a similar level of capital losses in subseqent years. Through careful planning using the Enterprise Investment Scheme we were able to defer gains into a later period and offset the capital losses against them. Tax in excess of £750,000 was saved.
We were requested by one of the large accounting firms to carry out an independent share valuation of the main trading company in a small UK group. The valuation was subsequently used as the basis for the company to purchase the shares of a retiring director.
We acted as Reporting Accountant for an OFEX 'listed' client in connection with a public placing and offer for subscription. The client succeeded in raising the funds required for the expansion of the business.
Business plans and financial projections
We have assisted many clients with the preparation of their financial projections for presentation to their bank to raise finance. As well as assisting with the 'number crunching' we have the experience to critically question the assumptions and policies underlying the projections and advise the client to look at different possible outcomes.