Case Studies

An example of the clients we support and how we make a difference

Proactive tax solutions

Following the preparation of statutory accounts for our client, a small company in the construction industry, we identified a number of opportunities for our client to save tax as part of our tax planning review service which we perform free of charge on every set of accounts we prepare.

There were a number of small annual savings to be made, but the main opportunity to save tax surrounded profit extraction from the business. By restructuring the way profit was extracted from the company, estimated tax savings of over £100,000 were made over the forthcoming ten years. 

As a small company run by a husband and wife team this is a very significant amount of money to them and their business.

Financial systems

After losing £25,000 in revenue due to accounting errors, a local company approached CRM with a view to reviewing accounting systems and processes to report to the board.   Following this, CRM were appointed to implement a new accounting package and to assist with the implementation of new recommended systems and controls.  

The client was delighted to have accurate financial information on a departmental basis and more stringent controls over income and expenditure, meaning there has been no repeat of the loss of revenue. Furthermore we have helped the client make significant cost savings amounting to over £10,000 per annum through the analysis of data from the new system, and as a sage reseller were even able to procure the software at a discounted rate.

Proactive audit and assurance service

An existing company, a UK subsidiary of an international group, engaged CRM to provide accountancy and audit services.   In the two years of the engagement to date, CRM identified, as part of our client focussed audit and assurance services, significant items to the benefit of the company. Specifically these were a VAT reclaim of over £8,500 which would otherwise have gone unnoticed, and also an otherwise unidentified claim on their landlord which was not being paid which amounts to over £27,000 plus further sums ongoing.   These amounts are significantly in excess of audit fees charged, so the client has actually made a substantial profit from both years’ audits.   Clearly the identification of these sums has both improved cashflow and strengthened the balance sheet of the company.