Tax Investigation Protection

  •  Anyone who completes a  Corporate, Value Added or Personal Tax Return could be selected for investigation at random
  •  The number of investigations by HMRC equates to almost 1,000 per day
  •  HMRC can turn up unannounced to inspect a business’s records
  •  Investigations can last for months-even years-and can prove costly in terms of professional fees to fight any attack by HMRC
  •  Even if your records and accounting are exemplary you could still be chosen for investigation

At Gordon Ferguson we operate an insurance scheme to protect our clients from costly fees as a result of a tax investigation. This is a nominal premium paid annually and has the following benefits:-

  •  It ensures that someone who knows your affairs is handling the investigation on your behalf
  •  It covers up to a maximum of £75,000 of defensive accounting fees
  •  It allows us to spend as much time as it takes to resolve any potential taxation issues arising from the investigation
  •  Our experience in dealing with HMRC will benefit the business in facilitating a smooth and speedy resolution to potential problems
  •  The scheme covers Directors and sole traders/partners personally as well as the business/company

The scheme also includes access to an employee helpline giving advice on such matters as :-

  •  Discipline and dismissal procedures
  •  Gross misconduct
  •  Health and safety issues
  •  Commercial legal issues such as:
    • Landlord & Tenancy
    • Company Law
    • Copyright & Patents

Sage Training

Sage is the UK’s premier accounting software with applications suitable for all types of businesses from start up to large mature companies.

The software suites available are:-

  • Sage Instant  -  basic start up or small company package
  • Sage Instant Suite – includes a payroll module
  • Sage Line 50 – full accounting package for a small/medium sized business
  • Sage Payroll – payroll software for the medium sized/larger businesses
  • Sage Line 200 – a full modular package for the larger entity

At Gordon Ferguson we are accredited Sage Resellers and Trainers and have access to the software directly from Sage as well as trainers who can supply a personal training package to suit the individual needs of each business.

In this era of spot checks by HMRC a business will be penalised for having insufficient and unreliable records so having a tried and tested system such as Sage will give them comfort that you are accounting for your business in a proper fashion.

Having instant information will allow you to monitor your customer and supplier balances as well as your ongoing bank position and enable you to prepare your Vat Return instantly.

Sage Payroll is fully compliant with the government’s new RTI submission regime which commences in April 2013.

Business Recovery

In today’s difficult economic climate many businesses run into financial difficulties and need assistance to kick start with a new strategic plan or manage their creditors to allow them to trade out of the situation.

Directors must be diligent in their actions once the business finds itself under financial strain, the main signs of which are:-

  •  Crown Debt beginning to fall overdue  (eg VAT, PAYE / NIC, CORPORATION TAX )
  •  Customer balances falling into the 60 day + bracket
  •  Suppliers reducing credit terms or demanding payment with orders
  •  Bank squeezing overdraft limits and bouncing cheques
  •  Order book drying up

We can help to manage the business out of the problem and give an honest diagnosis of the most appropriate course of action which could be:-

  •  Refinance using alternative funding sources
  •  Making agreements with the creditors including HMRC
  •  Negotiating further finance from the existing banks
  •  Discussing the company strategy and how to amend it to foster growth going forward       
  • OR
  • In worst case scenario assist in winding the company up with the use of an accredited Insolvency Practitioner

Business Purchases & Sales

At Gordon Ferguson we have a wealth of experience in dealing with the purchase and sale of both corporate and non-corporate entities.

We help clients when they are purchasing a business by:

  •  Identifying target companies through our network of professional introducers
  •  Reviewing the information on those targets with a view to valuing the company/business using standard valuation methods
  •  Negotiating with the vendor a deal which will allow the company to trade whilst meeting borrowing responsibilities of the purchaser
  •  Performing full Due Diligence and report on the target company with recommendations
  •  Formulating a full Business Plan and 3 year Forecasts to assist in the acquisition of the proper funding package
  •  Presenting the Plan to a range of funders to secure the appropriate and most cost effective deal
  •  Liaising with the Corporate Lawyers on both sides to ensure the Sale & Purchase Agreement has all the necessary safeguards and no onerous warranties
  •  Signing off the deal and assisting in the integration of the acquired business into the fold of our client company

We help clients when they are selling their business by:

  •  Identifying possible acquirers using our contact network
  •  Preparing an Information Memorandum to give potential acquirers a detailed summary of the business and its financial history
  •  Negotiating with an acquirer to obtain the best and most tax effective sale deal
  •  Assisting acquirer’s agent to perform their Due Diligence
  •  Liaising with Corporate Lawyers to protect the Vendor’s position
  •  Providing all necessary handover assistance for a smooth transition

Board Meeting Attendance

At Gordon Ferguson we take a strategic role in many of our clients and this can involve full participation at Board Meetings.

Working with a group of Directors can be challenging and at Gordon Ferguson we assist the Managing Director to form strategies which will drive the business forward at all times adhering to the company’s mission and goals.

Board Meeting attendance involves the following:-

  •  Developing strategies to drive every part of the business ( financial, sales & marketing, operational etc)
  •  Preparing business plans for each area of the business which contain specific and achievable targets
  •  Developing reporting structures to monitor the progress of each department towards their agree targets
  •  Holding fully minuted Board Meetings with a comprehensive agenda and compiling an AIR report ( Action / Implementation / Report)
  •  Each AIR details every action required from both the Board Meetings and the plans themselves, the person responsible for each action and the timescale within which the action has to be completed

Communication and Feedback are the 2 most valuable commodities a business can demonstrate. Our Board Attendance service allows a busy MD to concentrate on his field of responsibility knowing that he is only a maximum of 1 month away from the feedback he needs from the other areas of his business.

Businesses are only as successful as the information passed within them. The more creditable reporting by department heads, the better decisions which can be made towards the long term prosperity of a business.