The situation beforehand

A partnership that was not taking advantage of the tax savings incorporation could bring.

Cash flow challenges that, as with most businesses, needed addressing.

The daunting prospect of all the financials and disruption a merger could bring and concern that it would affect ongoing business.

The headaches and issues that manual recording brings along with the responsibility and changing legislation associated with running your own payroll.

The success we've achieved

Hallidays recommended incorporation, securing a huge goodwill valuation that resulted in a massive tax saving along with ongoing tax savings on profits on a year-by-year basis.

Apart from the incorporation and tax saving benefits, which aided cash flow, Hallidays also prepared budgets and cash flows for the bank. This improved decision-making within the business and enabled an increased overdraft facility to be obtained.

By providing advice on alternative structures and vehicles for the merger, Hallidays minimised disruption to the business and enabled Cunninghams to concentrate their time on their clients.

Hallidays' expertise in Payroll and IT reduced responsibility for the team and resulted in a computerised system, benefitting the whole practice by releasing time.