An established multifaceted business came to CM chartered accountants whilst under a long running investigation by the Taxman. To make things worse, the proprietor had become ill. The owner’s son asked us to take over.
Within a short period of time we had negotiated a very favourable settlement with the HMR&C and had even secured time to pay which allowed the company to fund the transaction within its existing cashflow constraints. The unprofitable elements of the business were identified and eliminated.
As we had identified the profitable part of the business, the client decided to concentrate on this, in a new format, with computerised systems.
High profit levels were recorded by the business over the next few years leading to a sale to a p.l.c. We advised on the sale and helped negotiate a very favourable lease of the premised to the purchaser.