Case Studies
How we helped SM Development Corporation in Philippines to establish their UK back office
SM Development Corporation in Manila, Philippines is a fast-growing residential property developer focusing on the premium middle market in Philippines. We were initially approached to act as the accountants and advisors to their UK back office in 2011.The UK office acts as a back office for the parent company in Manila in promoting their business in the UK.
After, understanding the structure of the parent company, we commenced our initial start up services such as registering the business for PAYE, communicating with the Companies House and HMRC etc.
Apart from our standard compliance, our main task is to correspond with the head office in Manila and the
In order to review the progress of the SMDC UK office, we conduct quarterly meetings with the staff of the London office. Therefore, as a foreign company who is operating in London, we believe that our advisory services play a key role in setting up a strong platform for the future growth of the company
The key reason for SMDC selecting us as their accountant and advisor is because of our flexible fee structure to suit their business requirements. As a foreign enterprise, they have varying business needs compared to a traditional UK based business. More often than not, it is the consultancy service that they need to ensure they comply with the UK law (employment and taxation). Hence, our services and the fee structure are more centred towards these consultancy services.
Compliance and Management Reporting for Green Farms Nut Company based in South Africa
Green Farms Nut Company is a privately owned Macadamia nuts processing company based in South Africa, They are engaged in exporting nuts worldwide including, Europe USA, Australia, Japan, South America and the Middle East. We are responsible for the accounting, tax function of the UK operations of Green Farms Nut Company Limited.
Apart from the traditional compliance, we are engaged in preparing quarterly management accounts for the UK operation, which provides a greater insight of the UK operation to the senior management in South Africa.
Dealing with the VAT Registration Checks for 2esseight Limited
This client approached us at a time when they have been refused by HM Revenue & Customs for VAT registration. The previous application has been handled by another accountant. When we went through the paperwork in detail, we found out that the VAT application itself and the follow up questionnaire have not been answered in a convincing fashion. They have clearly missed the standard rules of HMRC when making a VAT application.
After taking on this case, a lengthy discussion was held between ourselves and the client. At the meeting a list of documentary evidence that we need was presented to the client to organise in order to make a fresh VAT registration application. These documents were used to provide supporting evidence for all the questions raised by the HMRC.
A fresh application was later submitted to HMRC with these supporting documentation and this time around it became a success. The client now continues to trade without any restrictions. The main reason why this client chose us was, we were attentive to every single detail in the new VAT application and wanted to provide supportive documentation as proof for each of these points.
The Tax Investigation on Business Expenses of Glacier Jewellery
This client runs an online jewellery business and for the 2012/13 tax year, HMRC launched an investigation for a tax refund claimed earlier. The tax refund was claimed against a trading loss of the business and based on the tax she has paid through employment. The investigators of HMRC wanted to investigate this trading loss and the marketing, telephone, business rent etc claimed towards this trading loss in the particular year.
We had to prove to HMRC, how this trading loss arose with sufficient explanations about the business expenses claimed. The business expenses claimed are synonymous with a business based on the internet sales. However, we had to provide documentary evidence to prove that incurring such expenses is essential for the business in question because of its nature. As a result, documentary evidence was provided in support of the marketing, telephone and business rent claimed for the particular year along with sufficient explanations.
The explanations and the supportive documentation provided by us were found sufficient and thus, the client was cleared and the investigation was closed.