Support for company in audit results in minimised tax liabilities

Case Study16th Jul 2021

Contributors

Derek Mair

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Our Client

A company with an overseas parent, which provides sales, rental and maintenances services for heavy lifting equipment. They required a statutory audit and ongoing accounting support following the departure of a key staff member. There was also a need to address historical taxation issues.

Our Approach

Addressed the taxation issues and worked with our client and HMRC to agree a manageable payment plan which minimised interest and penalties due
Provided ongoing accounting support to assist with processing and preparation of monthly management accounts
Delivery of the year end audit and preparation of corporation tax computation by separate engagement teams within 2 months of the financial year end
Support in the form of ad-hoc advice and provision of management information through a period of change for our client which seen significant changes in staffing and the eventual disposal of one of the key service lines offered.

The Outcome

The business secured minimised tax liabilities
Management and owners were provided with reliable monthly management figures
Our client receives ongoing support meaning freed up management time to focus on the day job
AAB helped to minimise liabilities relating to historical taxation issues
Support through disposal process allowed for a return of value to shareholders and the management team to focus on the core business going forward