Business Success Stories
We've spent the past six decades helping clients to improve their business and solve problems. We know that's easy to say, so here are some real examples of what we have done for clients in the last few months:
Property development and investment company's
Land Remediation Relief (LRR) Claim:
"When one of our property company clients recently acquired a large industrial site we immediately looked into the reliefs that might be available.They weren’t eligible for Business Premises Renovation Allowance (this is a really useful relief and we have successfully applied it to help a number of clients) but we established that much of the site contained asbestos, so we advised our client that the costs of removing that would potentially make a LRR claim available to them.
"LRR is a great relief that gives a 150% uplift on the cost of the removal of certain contaminants and this uplifted cost can be set against profits when calculating the company’s tax liability. Because of what we were able to identify and the work we did in making the claim our clients saved a six figure sum."
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A professional services company's merger:
"Sometimes it is possible to kill two birds with one stone. When one of our clients discussed with us their expansion plans (and their frustration at not being able to progress them) it occurred to us that an introduction to another of our clients in a very similar sector, who we knew to be looking for an exit, might be of mutual benefit.
"We saw that this was a great opportunity for both as we knew their respective businesses and their cultures would be compatible. It was a real win/win situation. Naturally we made sure that both sides were properly and independently advised to ensure that the merger proceeded smoothly. We now work with the combined business which we are confident will go from strength to strength, and with two very happy clients!"
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A manufacturing company's research and development (R & D) claim:
"R & D claims are not just for rocket scientists! That is sometimes one of the obstacles we need to overcome when discussing these claims with clients; they are often just too modest about what their businesses achieve and how “cutting edge” many of them are in terms of technology.
"R & D is another claim which gives an uplift on relevant expenditure, currently up to 230%. Of course, not every business has the same opportunity to take advantage of this relief, but one manufacturing client took quite a lot of convincing that his business did indeed qualify. We pointed out that what he considered to be “simply tinkering with how we do things” was actually a rather sophisticated research and development programme. That client is now a convert as he has invested the proceeds of the relief into yet more tinkering with how they do things!"
A professional services, business turnaround:
"Success is a relative concept. For some clients it is about wealth protection or managing growth. Some are in a less fortunate position and they just need to get their business through a crisis. We recently started to act for a professional services business who frankly were in a bit of a pickle. We could see that the people were great at what they did for their customers but there wasn’t a coherent business plan: what there was plenty of was debt and expense and they were running out of time.
"They were, in fact, peering over the edge of a cliff and they needed a lot of help. Our focus was to give them direction and this needed a well thought out business plan and budget, which also identified areas where savings could be made quickly. We then prepared a specific plan for each area of debt, including securing sensible time to pay arrangements and even some repayment holidays. This has given them the time and space to get their business on a proper footing."
If any of the above services would be of benefit to your business or you would simply like to have a quick chat, we're here to help.
Call 01384 455505 or email enquiries@poolewaterfield.co.uk today to get started.
