Established business finds IN Accountancy offers a better solution at significantly lower cost!
A successful, well-established business owned and managed by 3 directors and making in the region of £200,000 net profit per annum, our client had been with the same accountant for the past 20 years.
While our client was paying their accountant into 5 figure fees, they did not feel that they were getting value for money, any proactive service or the best advice possible. They were paying corporation tax of ca £40,000 per year and were unsure if they were claiming all tax reliefs available. They were also unsure as to what accounting practices should be in place for various areas of the business, and had been disappointed with the lack of guidance and advice provided in this area by their incumbent accountant.
We initially offered our client an independent, free of charge, no obligation review of their accounts. We subsequently quoted to do the work for them at a cost equating to around 70% of what they had been paying until now. We included in our quote a significant amount of value add work which had been promised by their existing accountant, but was never proactively delivered, including a pre year-end tax planning meeting and a review of all of their accounting and bookkeeping processes.
Not only did we save our client £4k in annual fees, but out proactive pre year end tax planning meeting identified a potential corporation tax saving of around £10,000.
Our client now also has a clear understanding of what needs to happen in order to update their accounting practices in line with current guidance, and they know that they can come to us for adhoc advice throughout the course of the year as any queries or problems arise, without the fear that this will incur an additional charge.
Our client is delighted with the quality of work and service they have received, and aside from essentially having gained the equivalent to a minimum of 2 years accountancy services free of charge already, they have also praised our speed, efficiency and effectiveness in addressing their concerns and our proactivity in finding solutions to help them build a stronger, more profitable business.
Perhaps most importantly, they know that they have a safe pair of hands, and that we care about their success.