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 A previous year’s accounts were on file and profits had increased since then, yet their outdated accounts were still registered with Companies House.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.
The client wanted a rapid turnaround for their accounts, with timescales and deadlines set and adhered to.
What we did
Implemented a tight timeline and deadlines for the work needed to be carried out and agreed to quickly process the accounts for this business.
We also advised the client on several areas where tax savings could be made.
The client is highly satisfied that Armstrong Watson are able to meet the deadlines and that we are committing to the rapid turnaround of financial records.
We are also looking into areas of the business where tax efficient strategies will save the business tax and also lead to increased benefits for their employees.
These areas include remuneration planning (tax efficient profit extraction), Salary Sacrifice schemes for the employees and a cycle to work scheme.