Company with rapid growth and dynamic Directors but high levels of tax and lack of advice may restrict future company growth?
Even the most successful companies run into roadblocks. VIS-B Limited had dynamic directors. The company was making a lot of money and was rapidly growing. However, there were problems. High taxes and lack of adequate advice were stifling the company’s ability to continue to grow in the future.
One of VIS-B’s advisers referred the directors to Pareto Lawrence to get more specific advice. The first meeting went very well, with the directors finding Pareto advisers friendly and knowledgeable . Pareto immediately pinpointed one of the company’s major problems — the company had been paying far more than it needed to in taxes. Pareto showed the directors how to get their tax payments under control.
The relationship continued. The directors learned from their Pareto adviser that their pension scheme wasn’t very useful. Pareto suggested putting more money into it so that they would be able to use it to buy property.
The directors did increase their pension contribution because of the tax advantages, but at the time, they had no interest in acquiring property. Recently, however, the company needed to move, and because of the beefed-up pension, they were able to buy a new building to house the business.
When they found the property, Pareto advised them to get a proper valuation. They did, and found out the value was considerably lower than the price they had negotiated. Pareto advised them to offer a new, lower price. By following that advice, they saved 50,000 pounds.
Now the pension owns the building as an asset, along with investments the directors have purchased. The rental income from the business also flows back into the pension.
The VIS-B directors have now been satisfied clients for a year and a half. Their next project with Pareto is to work on their wills and estates. Pareto has saved them, and continues to save them, a significant amount of money. They regard Ray Best and Pareto as an “essential part” of their team.
Right from the first meeting, the directors knew they would benefit from Pareto’s advice. They appreciate being able to hear from someone who understands their business, but is outside of it. That perspective enables Pareto to see things that the directors cannot because they are too close to the situation.If you think getting that kind of knowledgeable outside perspective would help you and your company, call us at 01189 347 920. We would be very glad to set up a no-cost, no-obligation meeting.