Family Business Accountancy Restructure

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

After meeting with this client, we established a schedule of regular meetings, timeframes for turning their accounts around and looked into other areas of the business where strategies could be of benefit to them.

Meeting to discuss the figures in advance of the deadlines were held, and Armstrong Watson provided the support this client needed.

Results

We are currently looking at several schemes for this client which will save them money.

We have discussed various structuring options available to them including incorporation and the corporate partner scheme.

We are looking at some of these solutions saving this client £20,000 - £30,000 per year.