Growth by Acquisiton

Ambitious company operating in the equipment hire sector seeking to acquire a key local competitor whose owners were approaching retirement and wanted to sell the business.

Objectives

  • Secure the acquisition of the business against other interested parties
  • Raise the necessary borrowing to fund the acquisition
  • Structure the deal in the most tax efficient way for our client

What we did

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Approaching Retirement

Owner manager aged 60 had built a successful company specialising in the import and wholesale supply to the forestry and horticultural sector. The client wanted to exit the business and in turn realise sufficient capital to fund his retirement.  The opportunity was referred to us by a firm of local accountants who looked after the client’s compliance affairs but did not have a specialist corporate finance department to advise on business sales.

Client Objectives

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Family Owned Food Retail Company

Family owned food retail company - business owned and operated by 2 brothers

Challenges:

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John and Pam Cavanagh

After several years of having our tax affairs managed expensively and ineffectively by a well known major international auditing company we switched 3 years ago to Armstrong Watson. Facing a complex and unique set of legacy tax issues, Armstrong Watson researched every issue in great detail, consulted the appropriate specialists where necessary and proposed what turned out to be a very effective solution.

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Donald Engineering and Design Limited

 Donald Engineering and Design Limited are a small engineering firm based just outside Carlisle, which carries out design and development work for companies in the food, composites and road-marking industries.

 

The firm, unaware of the fact that its work qualified for a significantly enhanced tax relief, were approached by Armstrong Watson in November 2007, with the aim to identify if the company was eligible for the Research & Development tax relief available to companies carrying out qualifying activities.

 

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Engineered Assistance Limited

 Engineered Assistance Limited are an engineering firm based in Leeds, which carries out research and development work for a new form of patient handling technology for use in healthcare.

 
The company is only just starting to trade but with the help of Armstrong Watson it has applied to treat its pre trading R&D costs as expenditure qualifying for R&D tax credits. Accordingly, the company has obtained nearly £60,000 in tax-free cash back from HMRC despite that it has yet to pay any corporation tax.
 

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Family Business Case Study

Challenges

A very long established family business came to Armstrong Watson for help after being with their current accountant for many years.

Their current accountant had stopped engaging the business with regular contact, meetings and advice.

The client had filed their books with the current accountant and was highly unhappy with the lack of response they received.

What we did

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Property Maintenance Case Study

 

Challenges

A client in the property maintenance industry was having difficulties obtaining credit due to the fact that their accountant was very slow in processing their accounts and filing them with Companies House. A previous year’s accounts were on file and profits had increased since then, yet their outdated accounts were still registered with Companies House.

This has further consequences for the business as the difficulties in obtaining credit had resulted in delays in other areas of the business.

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Dental Client Case Study

Challenges

A Dentist based in Yorkshire has been with their previous accountant for over 5 years. Over this time, contact had been minimal and they didn’t receive any input into other areas of the business.

The owner of the practice felt that they were paying a lot of tax but they were not getting any input from their current accountant with regards to strategies were tax could be saved. 

 

What we did

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Get in touch

To find out more about how we can help you or your business, call us on 0808 144 5575 and speak to a member of our team. Alternatively use our contact form to send us a message or arrange a callback.

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