Problem
Though this firm had been founded many years earlier, rapid growth meant that it now had the wrong structure. It had been established as a sole trader, rather than an alternate entity, causing it to pay unnecessarily high levels of tax.
Solution
Bryant & Bryant transformed the firm from its sole-trader arrangement to a more suitable business structure. This required valuations, an analysis of the firm’s assets and liabilities, and a review of accounting and management systems, to ensure that appropriate and manageable business structures were put in place.
Outcome
The business is now operating on an appropriate business structure. This makes it easier to admit new partners, minimise income tax, and better manage future growth. We continue to provide ongoing back-office support and strategic advice.