We have written this case study to illustrate how we work with businesses that are ambitious to grow. We started to work with this new client, electrical contractors, who have grown quicker than they anticipated and they wanted to gain more support to keep control of their finances.
They were working with an accountant before, but they were only getting support with their annual accounts and tax return once a year but they wanted to work with someone that was more proactive.
Some of the challenges being faced by this company were:
• Lack of control of finances during the year
• Did not have a clear view of cash flow
• Needed advice on the best company structure
• Did not have in-house business admin support
When we started to work with them, we met the senior team and took the time to understand how the business had evolved and grown. We also discussed their plans to grow and how to best structure the business so that they could expand with confidence.
As they pay subcontractors for electrical work carried out, they must be registered under the Construction Industry Scheme (CIS). This means they deduct money from a subcontractor’s payments and pass it to HM Revenue and Customs (HMRC). We have taken responsibility for doing this on behalf of the client so that they know that returns are being made on time, saving costs on fines for a late submission.
Also, our clients have found that they have benefitted from our support:
• We generate monthly reports, so they have better control of their finances.
• They have a clear view of their cash flow and can track expenditures and income.
• Their VAT returns are completed on time, and we track tax commitments.
In just a few months with additional support from us, our clients feel much more in control of their finances, and this is helping them when they need to make decisions on how to grow the business.
If you are ambitious to grow and you want a proactive accountant that will take the time to work with you and get your finances in order then please do get in touch with us at by calling 01623 490 120 or email This email address is being protected from spambots. You need JavaScript enabled to view it..
Haidee is our Personal Tax Director and is a fully qualified tax adviser, having achieved the ATT qualification in 2006. Tax efficiency being her main concern. Specialising in taxation, Haidee provides clients with advice on personal tax, PAYE services, VAT and social security. She also provides guidance to new start-up businesses.
Call us today on01623 490120
or email info@watsonk.co.uk
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