case studies caplan associates


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    Why we love Caplan Associates

    This client was recommended to the firm on the death of her partner. She had carried on a very successful and profitable business for many years in the hospitality field. Some years earlier she had met a man and they had set up home together. He had advised her that the business would be better off being incorporated and that it should be run through an offshore company. She had gone ahead on his recommendation as she believed he had been very successful in business.

    On his death it became clear that things were not as they had seemed. He was not a successful businessman at all, but had incurred serious debt. Additionally, he had set up his partner’s company so that he was the only recognised owner of the business.

    Our involvement not only required us to be able to piece together the history but also to reassure our client throughout the entire process.

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    How Caplan Saved me Tax and changed our view of Accountants

    Mr A worked in the IT industry and although he had been advised by his accountants regarding IR35 and the pitfalls that he might encounter, he received little personal attention and then only someone at a junior level. He wasn’t happy! His unhappiness led him to seek a second opinion, and he found Caplan Associates through the Internet.

    We reviewed the advice he had been given and suggested a tweak or two which gave him an immediate increase in post-tax funds. Additionally, he felt reassured that he was being looked after; his tax position was reviewed annually and everything was clearly explained.

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    Caplan Associates changed the way we run our Watford business

    A husband and wife partnership in the design field had been with the same firm of accountants for a number of years, but felt they weren’t valued and decided to look for a new firm.

    They shortlisted a number of firms and decided to appoint Caplan Associates. As we do with all clients, our first task was to review of the business and their personal finances from top to bottom so we were fully au fait with where they were currently and what they were hoping to achieve in the future.

    We made a number of initial recommendations, including changes to the bookkeeping system. This resulted in a far more efficient bookkeeping process and gave the bookkeeper time to produce VAT returns and other statutory requirements which had previously been outsourced. For the first time, the partners also received cash flow forecasts which they found extremely useful in running the business.

    The partners were delighted because we had taken the time to understand what they needed and for a modest initial outlay they now had a much improved system.

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    Tax savings and Tax Planning saved us a fortune

    The MD of a successful family business had been discussing the tax charges his company faced with a close friend who happened to be a client of Caplan Associates. Our client suggested that he might like to get a second opinion from us, but the invitation was politely turned down on the basis that he was happy with his existing firm of accountants.

    Some months later our client and his friend came to see us to discuss a joint venture they were planning. During the meeting the managing director’s company was mentioned in terms of the overall tax planning and on further investigation we were able to make some substantial tax savings.

    Needless to say he became our client.

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