“Moving to Watsons was a very positive step for the business and one of which I was not really aware of until some 6 months after moving. I had been trading as a partnership with my 2 sons and the business had been growing steadily. I had on many occasions asked my accountant whether I should be a 'limited company' only to be told 'you don't want to bother with that - loads of paperwork and no real benefit' - how wrong that was. Within 2 meetings Watsons had laid out for me in layman's terms what the pros and cons were and gave me a clear and reasoned opinion why I should be a limited company. Since that time we have not looked back as a business and I am totally happy that I have a firm who are going to look after my interests.”

 - James Taylor

Client Industry
Furniture Importation / wholesale

Turnover
£850k

Location
Sussex

Background
The client had been trading for many years as a partnership in spite of the growth and potential risk of trade. The tax liabilities were escalating and they were receiving no real planning advice as to how they may mitigate them and protect the business at the same time

Problem
Lack of good advice and a mounting tax burden

Watson's Solution
Assess the business and its needs now and in the future, consider the appropriate trading medium and take the client through the 'rationale' on a step by step basis. Incorporate the existing business ensuring at all times minimal disruption to trade and hold the clients hand throughout the process

Result
Substantial tax savings on a one off and annual basis. A trading medium that suits the growing needs of the client and offers some degree of protection to the client on an ongoing basis