Shedding light on different business structures helped to reduce taxes for this successful business.
We visited our client at their premises to discuss the business, its activities and its key people. It soon became clear that much like Team CB, Headlights was all about teamwork and in this case was a team consisting of close family members, which immediately felt like a great match.
We were given a clear insight of the business model and its past financial history and felt sure very early on that there was a solution that would work well for all involved.
Looking at the structure of the business in its current state as a partnership there was a perfect opportunity to discuss the benefits of incorporation. Along with this, it was also prudent to explain the practical issues that this would involve, such as opening new bank accounts, transferring vat numbers, new invoice templates and the many other issues to overcome initially.
Graham Head, MD