springfordsbrochure

c h a r t e r e d a c c o u n t a n t s

Our approach is remarkablystraightforward. We Listen.We listen because we want to hearhow we can help. To do that we needto appreciate the challenges you facein your business. We need to understandtoo what you want from your business.Only then can we help you get yourbusiness to where you want it to be.Unlike many accountants we do muchmore than you expect. We call itgoing beyond the numbers.

Beyond the Numbers

We try to be a little different too.

We try to listen before we offer advice. We try to price the work before we get started.We try to complete our work to your timetable and not our production schedule. We try to offer a welcoming, accessible office base (and we have

some half-decent jokes as well).

All because we want you to get the solutions you need and to enjoy dealing with us in the process. If you do, the way we see it, you may be minded to come

back and bring others as well.

Accountants are perceived as notoriously dull. (Try being an

accountant at a party).

Accountants know few jokes and the ones they can remember, they can’t tell very well. Most accountants perhaps, but at Springfords we try a little harder.

Managing the tax cost

Tax may well be the biggest outlay on your profit and loss account and has to be managed like any other cost. Jimmy Hair and his team come across a whole raft of tax problems and offer solutions (whether simple or creative, but always effective) to manage tax liabilities. He’ll be happy to give you some examples.

Offering pertinent business advice

You won’t succeed in business purely by having us prepare annual accounts for you. Sad but true. You need to understand what the numbers are telling you and know what actions to take. We can sit beside you in discussions with the bank, negotiations with suppliers and the like but only if you let us get close. Carol Wright and her team are on hand to sidle up.

Completing business transactions

The biggest ask of advisers can be when you’re at that critical stage of buying, merging, funding or selling. We can help smooth the whole deal process, focus on getting the right terms for you and minimise your risk. And its on the result that John Hume and his team are happy to be rewarded.

Meeting the compliance burden

Shareholders, lenders, suppliers, employees. All with an interest in your business and the accounts you produce. Not to mention Companies House, various regulators and authorities. You may need, or be advised, to have the accounts audited.Not just that but you should be mindful of what is disclosed in the accounts. Patricia Reekie and her team are the people for you.

We’re small enough to guarantee relationships at partner level with all our clients (though you’ll have a dedicated account manager to look after you too), yet big enough to have the necessary depth of skill and breadth of experience to look after all of your needs. And we have friends in foreign places who can help.

With easy motorway access and generous (free) parking, we attract a diverse range of clients, from long-established family concerns and charities to high growth companies and public sector organisations. Property businesses and professional practices also feature heavily.

Our partners are supported by specialist teams of professionals, whether in, tax planning, audit or associated business services. We work too with other advisers and intermediaries to make it happen.

Like most accountants, we prepare the business accounts. It goes without saying that we audit the financial statements and of course we compute the tax liabilities. But unlike many accountants, we do much more.

We call it going beyond the numbers.

Beyond the Numbers

Our 40 second elevator pitch on what we are about

• Accounting and management information, auditing and business assurance

• Specialist tax and corporate advice, international capabilities

• Professionalism and expertise but with high levels of personal involvement and service

• 40 people (seven partners)

• Each client has a dedicated account manager

• Direct, open and not afraid to offer an opinion

• Located in sunny Eskbank, just off the City bypass and also in Livingston (plenty of parking, no traffic wardens)

• If we don’t add value, we don’t deserve the business

End of pitch.

Dundas HouseWestfield Park

EskbankEdinburgh EH22 3FB

T: 0131 440 5000F: 0131 440 5001

E: [email protected]: www.springfords.com

SPR INGFORDS

Our People

Throughout our brochure, you’ll see pictures of people. They’re not professional models, but real live Springfords

people. You may know some of them (if so, don’t be too hard on them next time you see them!). Our people are our

best advertisement, so we thought we’d give them star billing.

The ladies above are our admin team. We couldn’t operate without them. As you can see, they’re a friendly bunch!

They’re the first people you’ll meet when you visit the office, and they’ll take care of you while you’re here (they do a

mean cup of coffee, and they know where the biscuits are hidden). They’re also likely to rattle a collecting tin as you

pass by, all for a good cause!

We have a very active charity group, raising funds for a variety of local and national charities. It’s all part of our

emphasis on people, on relationships; with each other, with suppliers, with the local community and, of course, with

our clients.

We like to think that our attitude towards people, going beyond the numbers, is one of the things that sets us apart. Of

course, the numbers are important, and we want to get them right, but we never forget that clients are people. Our

clients are important to us, and we want them to feel part of the Springfords team. That way, they will feel able to trust

us, work with us, tell us what they want (and when), what they need from us, tell us when we do something wrong

(hopefully not often) and perhaps even when we do something right (so we can keep doing it). It’s all about

relationships, and we’re good at that. Just ask any of our people.

Give us a call, drop us a line, pop in to see us. You’ll always find a welcoming face!

Dundas House Eskbank T: 0131 440 5000 E: [email protected] Park Edinburgh EH22 3FB F: 0131 440 5001 W: www.springfords.com

You may need an audit by law. If so, the audit will offer much more than just a check on the numbers. If not, choosing

to have an audit says a lot about you and your business.

Companies that subject their accounts to audit give financial management a high priority. They are open to scrutiny,

and constructive advice and assistance from specialists. In short, they take business seriously and let others know that.

Besides the assurance the business owners gain from an audit, there’s the undoubted value when making a case to the

tax authorities, the bank, or financiers. If the business is to be sold, audited accounts can greatly ease that process

(accounting surprises have put paid to many a deal) and indeed help secure a better price.

As you might expect, Springfords’ approach to audit is a little different. We don’t think an audit should just be about

ticking boxes. Our audit techniques are tailored to your business and our assessment of the areas of risk. We

concentrate on key audit areas and avoid matters that are unlikely to be material (unless of course you would like us to

be seen counting the petty cash!).

With experienced professionals undertaking the work, we will understand your business and relate to you and your

colleagues. We aim to look at the business from your perspective. In that process, clients often want to raise business

issues that our audit team will be happy to consider and, if need be, involve colleagues with corporate

finance and tax specialisms.

Speak to Patricia Reekie to find out more about the assurance and value of an audit from Springfords.

Audit and Assurance

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http://www.springfords.com



T: 0131 440 5000F: 0131 440 5001


SPR INGFORDS

Tax

In this life, only two things are certain – death and taxes. This may not be original, but it’s still true, and at Springfords

we can help you plan to avoid, or at least defer, one of those certainties. (We’re working on the other).

Tax is with us to stay. You may just want the peace of mind that comes from knowing that the forms have been

completed and the dues paid. Perhaps getting your affairs sensibly in order to reduce your tax liabilities is of interest. Or

you may want to think about more complex strategies and structures (here or abroad) that won’t make tax go away

completely but will let you manage tax like any other major outlay to help preserve income, business value and wealth.

Whatever your views on the tax burden, we have a Tax Adviser who’ll be able to help you. And if we can’t do it

ourselves, we’ll know someone who can. Our contact network and international association give us access to like-

minded tax professionals in the UK and around the world.

It’s often said that it’s not what we do, but the way that we do it that sets us apart. We work with the same tax rules

and regulations as everyone else. But we like to think that we can get beyond the jargon to interpret and explain what

it means for our clients. And then we can offer clear and worthwhile advice.

Tax doesn’t have to be taxing. We couldn’t say it better ourselves. Speak to John Hume, Fiona Donaldson or

Jimmy Hair if you’d like us to help you come to the same conclusion.



T: 0131 440 5000F: 0131 440 5001


SPR INGFORDS

Accounting

Your business is your baby - you don’t entrust it to just anyone, and, as it grows, it will become more demanding (and

more rewarding)! Its needs will change and it will take up increasing amounts of your time. We recognise this – after

all, we also run our own business. Your baby is safe in our hands. Trust us.

As business people ourselves, we understand your business needs, and we know there’s no textbook answer. So we

offer a totally flexible range of management information and accountancy services which can be tailored to provide

what you need, when you need it - from helping you find the initial funding to get started, through preparation of

management accounts, to answering bookkeeping queries raised by your staff. And everything in between.

We know how important it is for you to get numbers you understand, to help you control and direct your business as it

grows – so we summarise your results and take time to discuss them with you. That’s where we can really add value.

Our job doesn’t end with producing the numbers - we want to help you make those numbers useful - to identify areas

for possible profit improvement, and to form the basis of business and tax planning.

To help us help you, we have, (as you might expect!) a rather different structure from conventional accountancy firms.

Rather than a rigid management line from office junior through to partner, our partners work with balanced teams of

experienced staff. You’ll have access whenever you need it to a partner personally responsible for looking after your

business – that goes without saying. But you’ll also have friendly, experienced and dedicated staff looking after you on

a day to day basis. What more could you want? (if you think of anything, just let us know).

Give Patricia Reekie or Carol Wright a call to find out how we can help your business grow.

You may be contemplating buying or selling a business. You may want to review the ownership structure of your

business, maybe to reduce the tax bills but also to provide management incentives. You may want to tackle the

vexed issue of succession in the family business.

At those critical stages in the life of the business, the advice must be practical and commercial. We have the

technical expertise and the transaction experience that will tick those boxes.

But, importantly, it’s not just about experience of similar transactions. It’s also about experience of dealing with the

situation in which you find yourself. Invariably the critical stages impact on people - owners, shareholders,

employees, directors, family members - and so, as well as being practical and commercial, the advice has to be

appropriate. It’s seeing the bigger picture that sets some advisers apart.

We can offer the advice to help you assess the right solution for you and then provide the support to co-ordinate

the plans and actions to make it happen. Along the way, we can do any financial modelling that is required, provide

business valuations, undertake financial diligence and let you know about the tax angles.

John Hume will be very pleased to discuss how we can help you get to where you want to be.

Business Transaction Support

T: 0131 440 5000 E: [email protected]: 0131 440 5001 W: www.springfords.com

Dundas House EskbankWestfield Park Edinburgh EH22 3FB



T: 0131 440 5000F: 0131 440 5001


SPR INGFORDS

Wealth Management

Wealth Management: a convenient term to cover the wide range of expertise we can bring to the party, to help limit

your own and your family’s tax burden. Not easy to summarise on one page. But we’ll try.

So what’s it all about? There’s no simple recipe - different people need different kinds of advice at different times. You

may be starting up in business, or expanding your business, in the UK or abroad. Further down the line, perhaps

you’re looking forward to retiring, handing the reins to the next generation, or selling up and moving to sunnier climes.

You may be getting married (or divorced), or panicking over school and university fees. Perhaps all that is behind you,

and you’re thinking about trusts for grandchildren, planning for your retirement, or minimising inheritance tax.

Wherever you are, we can help plan the way forward.

That’s the what. And the when? Our job doesn’t end when we’ve given you the advice you need right now. We keep

talking to you, keep up to date with what’s going on, so we can keep your planning current and relevant.

We’ve put together a team experienced in all aspects of wealth management (that’s the who). Between us, we can

cover all the angles: inheritance tax, capital gains tax, trusts, pensions, offshore planning (and the rest).

And finally the how. You may be thinking that you’ve heard all this before. Perhaps you have. So what sets our Wealth

Management approach apart? As usual, it’s how we deliver. No incomprehensible reports, section numbers or jargon.

When it’s your family’s wealth at stake, we know you need to understand what we’re talking about. So contact

Fiona Donaldson – she’ll give it to you straight.



T: 0131 440 5000F: 0131 440 5001


SPR INGFORDS

Payroll

Do you ever feel that your business is “drowning” in paperwork? Sometimes, something has to give, but one thing you

can’t afford to neglect is your staff payroll (no staff, no business!).

If your payroll is getting a bit too much, we can help. The level of help is up to you. If all you need is assistance in

running your weekly or monthly payroll, no problem. Our payroll team will deal with everything for you, ensuring that

your staff (and the Inland Revenue!) are paid the right amounts at the right time, leaving you to focus on running your

business. And we can arrange electronic payments by BACS. But that’s not the end of it. We know that things don’t

always go according to plan, so you’ll have a dedicated payroll specialist to contact whenever you need help, whether

by telephone, fax or e-mail.

And the paperwork? We’ll produce everything you need, in the format you want. We’ll analyse your payroll costs

however you require. We can supply departmental reports and salary forecasts. We‘ll provide the accounting journals

you need to record your payroll. And we provide full supporting hard copy print outs, including a variety of reports and

plain copy payslips.

If you need a bit more support, we can offer a full employment management service. As well as payroll assistance, we

can maintain your staff holiday and sickness records, monitor National Minimum Wage issues, record employee benefits

and expenses, and anything else that might be necessary to keep the wheels running smoothly. Whatever you need, we

can tailor-make a service to suit.

How much does it all cost? Not as much as you might think. We offer fixed pricing and a service level guarantee. No

nasty surprises or extra charges for every minor change.

So, if you need H.E.L.P. with P.A.Y.E, send out an S.O.S to Linda Johnstone.

Dundas House Eskbank T: 0131 440 5000 E: [email protected] Park Edinburgh EH22 3FB F: 0131 440 5001 W: www.springfords.com

In your role as an owner and manager of your business, as an external Board Director or as an investor, we know that

your time is precious and limited. To help you make those key business decisions, you need to be confident that you have

meaningful, current financial information at your finger tips and you may not have the luxury of a dedicated financial

controller or director to deliver it.

That is where we can help. We can provide continuing financial management support or simply report on a one-off basis; our

input is tailored to what you need. We can help with processing transactions through to providing detailed financial modelling.

Work-plans and reports are designed specifically for you so that you get what you need to let you monitor business

performance, make sure the bank covenants are kept under review and allow informed investment decisions to be made.

You will be looked after by a dedicated, experienced member of our financial management team who will quickly become

part of your team – your outsourced financial controller.

As an example of what can be done, we are already providing a full financial management service for collective property

and hotel investments with funds ranging from £2M to £20M through Scottish Limited Partnerships. As well as preparing

regular financial reports for these funds, we also liaise closely with all stakeholders - the property and hotel managers,

FSA operators, tax advisers and auditors. We help the Board with investor communication too, including periodic updates of

projected investor returns.

Flexibility is the key to getting the most appropriate solution for different situations. Julie Leckie will tell you more to let

you decide what is best for you.

Financial Management

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T: 0131 440 5000F: 0131 440 5001


SPR INGFORDS

Professional Partnerships

We deal with a lot of professional partnerships. We like to think that we do it rather well. Like you, we’re professionals,

so we know what’s important to you.

We know that you need accurate, timely and useful business information. You need to comply, not only with the tax

authorities, but with various professional bodies. You have to be able to budget ahead for your tax liabilities, just like

any other business expense. As an employer, you have obligations to meet, and you want to reward your employees

tax-efficiently. Above all, you have a business to run, and you want to do so with minimum hassle.

We can deliver on all these fronts. But we know that you need more than assurance. You want sensible advice on how

to run your business smoothly, profitably and tax-efficiently. Forward-looking, strategic advice from someone who

understands your business. This is where we can really make a difference. Accounts, business advice or tax. PAYE,

or VAT. You name it, we can help with it. (And as well as advising you, we can work with you to assist your clients).

We also recognise that a partnership is a group of individuals, and that, as individuals, you have your own personal

priorities and planning needs. As well as preparing your personal tax returns, we can give you the inside story on tax

efficient borrowings, retirement planning, wills and inheritance tax. The full picture.

Let our practice help your practice. Patricia Reekie or John Hume will tell you more about what we can do.



T: 0131 440 5000F: 0131 440 5001


SPR INGFORDS

Limited Liability Partnerships

Q. When is a partnership not a partnership?

A. When it’s a Limited Liability Partnership.

A Limited Liability Partnership (or LLP) isn’t actually a partnership; it’s a body corporate (with all the benefits that brings) but

is taxed as a partnership (with all the benefits that brings). The best of both worlds? Exactly! We’ve converted to an LLP

ourselves, so you can see we’re convinced.

Worryingly high professional indemnity premiums and a climate of increasing claims have encouraged partners in

professional firms to look at ways to reduce risk. An LLP can often be the answer. LLPs offer limited liability for their

members, avoiding potentially catastrophic claims that could wipe out an innocent partner’s personal assets. However, for

tax purposes, members are treated as partners in a partnership – so no double taxation and no nasty NICs on drawings.

What’s more, with care, an existing partnership can convert to an LLP without any unpleasant tax consequences.

So far so good? Of course, there are hoops to jump through. Conversion has to be timed and structured properly. Stamp

duty land tax and VAT require to be considered. The change will need to be notified to customers, staff and suppliers.

Additional disclosure rules will apply to the new corporate body. But worry not,……..

We know from first hand experience what’s needed. With this knowledge, we can help you reach the decision that’s right

for you. If that decision is to convert, we’ll guide you through the process, to ensure that the transition is smooth, timely,

and fully effective for tax purposes. We’ll liaise with your lawyers on the paperwork and make sure that you have everything

under control.

Still unsure? Talk to Patricia Reekie or John Hume about how you can get the best of both worlds.



T: 0131 440 5000F: 0131 440 5001


SPR INGFORDS

International

If your one foreign transaction each year is exchanging your unused holiday currency, you won’t need international tax

advice. Otherwise,…….. read on.

If you hold any foreign investments, (securities, property, even a bank account), you’ll need to think about overseas tax

rules and UK double tax treaties. A bit of a headache. Or,…. you can ask us to sort it out for you. We’ll make sure that

you pay the correct amount of tax here and overseas.

And what about going abroad? Everyone knows that being non-UK resident or domiciled can be a big plus from a tax

point of view. It’s just as well known that the Revenue have tightened the rules on this front. But opportunities remain.

We know what they are and how to use them.

As an employer, you may be considering sending employees abroad, or bringing foreign workers into the UK. Tax,

national insurance, and pension implications all need to be considered. We can keep you right on your obligations and

advise your employees on their liabilities.

And offshore trusts? A valuable tool in the past, but their use is now severely limited. However, they still have their place.

We’re not even going to pretend that we know all about the US tax system, or the French, or the Spanish (who would

believe us if we did?) But we know the basics. And as for the detail – we know someone who can help. As part of

Praxity, we have associates across the world, on hand for advice on buying a holiday home in Spain, opening a branch

in Paris, or emigrating to New Zealand.

Investing abroad, going abroad, coming home? Some of us will go through life having had to deal with only one set of

tax rules. However, if your tax affairs cross international borders, contact Fiona Donaldson for help in your language.



T: 0131 440 5000F: 0131 440 5001


SPR INGFORDS

Employers

If you employ staff, you’ll know that the issues go way beyond running a payroll. Employee benefits, tax credits, student

loans, maternity benefits, National Minimum Wage considerations, stakeholder pensions,…. the list goes on.

We know that running a business can leave you short of time to take care of employee matters. But neglecting them

can be dangerous. PAYE inspections are a lucrative source of revenue for the Treasury, and a fact of life for employers.

If the idea sends a shiver up your spine, don’t worry. We have people who can help; before, during and after the visit.

That’s the downside. But it’s not all bad news. On the upside, there’s still a number of tax efficient ways to reward

employees. If you have valuable people, talk to us about how to offer them valuable rewards.

Some specific areas where we can help? Do you provide your employees with company cars? It may be more beneficial

to offer cash…… How generous is your staff entertaining? If too generous, your employees could find themselves with

tax bills…… Want to reward your high-flyers? The Enterprise Management Initiative is a tax-advantaged way of

awarding shares…... And, of course, a pension can be one of the most valuable employee benefits around. Talk to us

about new developments.

We can even help you cut down the paperwork. A dispensation can save time and effort in reporting non-taxable

expenses payments, while a PAYE Settlement Agreement lets you settle employees’ tax liabilities on minor benefits.

Whether you want to iron out the problems or explore the opportunities (or a bit of both), give Fiona Donaldson a call.

c h a r t e r e d a c c o u n t a n t s

Let us go beyond the numbers for you.Get in touch with one of the partners named overleaf (not all of them bite),

send up a flare or just wait for us to find you.It all depends how quickly you want to be helped.

Dundas House Westfield Park Eskbank Edinburgh EH22 3FB T: 0131 440 5000

also atAlba Innovation Centre, Alba Campus, Livingston EH54 7GA T: 01506 242002

W: www.springfords.com E: [email protected] F: 0131 440 5001

Let’s get together

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