Case Study

Transforming Complexity into Clarity: Our Proven Approach 

Our audit team conducted a detailed review of the group's financials, focusing on their tax computations, deductions, and overall tax strategy. We worked closely with the family to understand their business operations, financial goals, and any specific challenges they were facing.

Unearthing Hidden Value: Key Financial Insights 

1. Underutilised Tax Deductions: We discovered that the ‘group’ was not fully leveraging available tax deductions and credits, particularly those related to intangible assets and investments in new equipment.
2. Inefficient Tax Structure: The existing structure was not optimised for their multi-entity setup, leading to higher overall tax liabilities.
3. Lack of Tax Planning: There was no proactive tax planning in place, resulting in missed opportunities for tax savings and increased financial strain.

Strategic Solutions: Key Actions for Success

1. Maximise Tax Deductions: We recommended a thorough review of all business expenses to identify and claim all eligible tax deductions and credits. This included deductions for amortisation of Intangibles, repairs and capital additions.
2. Restructure Tax Setup: We advised restructuring into a group structure to better align with the multi-entity operations. This involved creating a more tax-efficient organizational structure and explored opportunities for utilising losses via group & consortium relief.
3. Implement Proactive Tax Planning: We suggested implementing a proactive tax planning strategy, including regular tax reviews and consultations with our tax experts throughout the year to stay updated on new tax laws and opportunities for savings. 

Delivering Real Value: A Transformation

By implementing our recommendations, the ‘group’ achieved significant tax savings. They reduced their overall tax burden by 32%, freeing up capital for reinvestment in the business. The updated structure and proactive planning provided greater financial flexibility and stability, allowing the family to focus on expanding their operations.