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How We Work

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CLIENT CASE STUDIES

How we work

Here are two recent success stories where we have managed to create significant value for our clients leveraging our joined up thinking.

CASE STUDY 1

Our Clients Scenario:

A business client of ours approached us with urgent accountancy needs following an unfortunate period of bad luck with the previous accounts and bookkeeping.

Our Client:

Our client is a high volume retail business, which manufactures their own products to sell in 8 different retail outlets. These retail outlets are all in high traffic areas around London. As well as this, our client also provides wholesale supplies to high profile retail customers.

After an internal bookkeeper left the business, the record-keeping and accounting information had become unmanageable and the business quickly got behind in their accounts.

Z group were approached to help get their business on track in regard to the bookkeeping, solve their problems and finally, to complete the statutory accounts.

Joined up approach:

In addition to providing the services originally quoted for, it soon became apparent to the teams that the client had a number of other challenges and opportunities that Z group is uniquely positioned to help with.

With the client back on track, our Accountants, Business and HR Advisors and Corporate Solicitors were able to help the business scale, diversify and explore advanced funding opportunities.

The Z group solution:

Small Business Unit:

Z group met with the client at their premises and took time reviewing all the data.
Two main services were quickly identified as urgently required:

  • A clean-up operation covering two years to get the data up to date.
  • Ongoing full bookkeeping, accountancy support and financial direction.
The Accountants:

During the clean-up operation our accountants identified and achieved the following:

  • A VAT reclaim dating back two years and amounting to over £100,000.
  • Resolution of outstanding debtor balances that had remained uncollected.
  • The benefits and implementation of moving to a cloud based, real-time, modernised system.
  • Installation of a full-time bookkeeper provided by Z group.

 

Following the clean-up operation and with the business back on track, the client now benefits from the following:

  • Up to date management information.
  • Real-time bookkeeping, credit control and cost management.
  • Full-time dedicated, effective and skilled bookkeeping support.
  • R&D Tax Credits amounting to actual cash benefits of £175,000 over the three year claims, and ongoing R&D relief year on year.

For more information about our accountancy services…

Business Advisory:

The client was struggling with professional HR support and after losing a key member of the team Z group was able to step in and resolve the following issues:

  • Staff contracts.
  • A functioning and user-friendly HR system.
  • Interviews and fact-finding exercises.
  • Resourcing restructure.

The business has diversified and through honest and open strategy meetings with our business advisors, the following challenges and opportunities have been discussed, explored and resolved:

  • Diversification of revenue streams and new market opportunities.
  • Business structure.
  • New product lines.
  • Investment and funding.
The Solicitors:

Working in harmony with our tax and business advisors, Z group’s corporate legal team has, so far, helped the business with the following areas:

  • Shareholder agreements.
  • Business valuation.
  • Employee share schemes.
  • EIS and SEIS funding options.

For more information about our legal services…

Moving forward:

Our client has successfully navigated a difficult and challenging period and the business is back on track and doing well, the next steps for our client are:

  • Continuing to scale and diversify with three new retail locations opening later this year.
  • A brand new sales platform launched late in 2019 and growing rapidly during 2020.
  • A profitable, tax-efficient, achievable and structured exit strategy.
Conclusion:

Carrying out an operation of this size has at times led to challenges. However, two years on, the business is thriving and our relationship with the client is strong.

It is a testament to both the strength and skills of our teams, the ability of our advisors to see beyond the face value of what we are asked to do and add real, previously untapped value to the business, and to the determination, ambition, patience and understanding of our client that we have forged a long-lasting and mutually beneficial relationship.

CASE STUDY 2

Our Clients Scenario:

Our client approached us as they were looking at ways in which they could maximise their estate for tax planning purposes. The client was also considering some form of equity release against the property, to enhance their immediate lifestyle options.

Our Client:

Our client approached us as they were looking at ways in which they could maximise their estate for tax planning purposes. The client was also considering some form of equity release against the property, to enhance their immediate lifestyle options.

  • A retired couple, whose two grown-up children have moved out of the family home.
  • Our client told us that the family home now feels too big for their current needs. The property based on a 2.7-acre plot located in Surrey includes woodland and an equestrian sand-school for their daughters horses.
  • Like many people in a similar position, our client finds themselves to be relatively asset-rich, but cash poor and would like to change that.

Joined up approach:

In addition to providing the services originally quoted for, it soon became apparent to the teams that the client had a number of other challenges and opportunities that Z group is uniquely positioned to help with.

With the client back on track, our Accountants, Business and HR Advisors and Corporate Solicitors were able to help the business scale, diversify and explore advanced funding opportunities.

The Z group solution:

The Architects:

Our team of architects at Z group were able to identify that the buildings in the countryside (the property in question was within the Green Belt) can be converted into separate dwellings, assuming there are no major changes to the footprint of the building. Therefore, our team was able to identify that the garages and stables were ripe for conversion. Our architects submitted a planning application in respect of the conversion and was successful. This represented an uplift in value of the property by some £600,000. The client is looking to build out the scheme with planning permission for their own use which will involve the architects preparing technical drawings, tendering the project as well as managing the project on site and administration of the building contract.

 

For more about our architectural services…

The Solicitors and Tax Advisors:

As the property was the client’s principal private residence, any sale of the property to capitalise on the uplift in value should not have been subject to Capital Gains Tax (CGT). Unfortunately, due to the grounds of the property being in excess of 1.23 acres, this meant that Capital Gains Tax would apply to the remaining area of land.
Through successful liaison with the Land Registry, our expert solicitors were able to quickly resolve this issue by reorganising the land titles which made up the property. This meant that no one land title exceeded the 1.23 acre CGT cap.
After the preliminary work to resolve the title issues, our solicitors then used their skills to implement a structure which was put together by our team of tax advisors. This meant that an immediate distribution of wealth was made to the grown-up children, resulting in long term inheritance savings.
In addition to our solicitors handling both the property transfer and family company constitutional documents, our private client solicitors also prepared updated wills for parents and children and gave preliminary advice around potential pre-nuptial arrangements which may be considered necessary in the future.

 

For more information about our legal services…

The Accountants:

In addition to advising on the tax issues that arose throughout the transaction process, our Accountants were also able to help clients consider how they may want to capitalise on the uplift in value of the property.
Our team took their time to discuss with our clients their best options. The options that our clients were presented with was either to sell the property with planning permission or to build out of the project and then sell the property/company.

 

For more information about our accountancy services…

What Others Say

I would like to compliment you on the quality of your architecture and preparation of the two schemes through the pre-application processes and through the planning application and appeal processes. With both appeals being upheld, you can give yourself a big pat on the back. Congratulations!

What Others Say

Thanks again for yesterday Jane. You made spreadsheets engaging. An impressive feat – Liam Common Industry.

What Others Say

Victoria, I can’t thank you enough, not only for helping me to speed up the probate application when you should be taking a well deserved break, but the way you treated me in such a compassionate way touched me. You have no idea how comforting it is to receive your prompt response to each and every one of my emails in this dark period of my life.

What Others Say

Accounts & Solicitors - brilliant especially Mark and May. They answer all my queries very promptly and a pleasure to deal with them. 

What Others Say

Sam - I feel very comfortable to talk to him about anything - good or bad -  ask for help etc. He has been brilliant and if it wasn’t for him, some things might not have gone as smoothly. I highly value Sam and I need a Sam one day (when I can afford it!!). He is just fantastic.