The Client
A small newly-formed group of companies operating to tight margins.
The Challenge
Care homes are generally good profit-making businesses. Yet it became clear soon after starting work with this particular group that cashflow concerns would soon surface.
The Solution
Our technical expertise and understanding of the marketplace brought insight for the owners, forewarning them to take action. Improved internal financial reporting was put into action. Managers now receive regular, accurate reports to control the ratios which matter most and to forecast profits and cashflow.
Great Results
The reviews help the managers make informed decisions and better understand the model they operate within their competitive marketplace.
Demonstrating strong financial data has improved the company’s relationship with its bankers, allowing the management team to renegotiate funding terms. Continued monitoring and reporting has enabled new capital investment and business development to proceed.
The Client
The client first came to us as a sole trader with one dental practice. We worked with him over a number of years & provided support as he grew his planned model from one practice to five.
The Challenge
Throughout the growth of the business we ensured that he maximised the tax reliefs available as we dealt with all the compliance issues (business and personal) including assistance as the business was subjected to a full enquiry by HMRC.
The Solution
We took him through the incorporation process ensuring that he was aware of the options available. Again tax planning was an important aspect of the incorporation to include looking at a tax-efficient remuneration package for him as a director/ shareholder. Our payroll department prepared his monthly payroll for each practice and dealt with all the matters concerning PAYE compliance.
Great Results
Several years after incorporation our client passed away unexpectedly and we stepped in to assist his family to maintain the business so that it could be sold. This included (for a period) assisting in aspects of the day-to-day running of the practices as we sought to prepare the business for sale.