Case Studys…

UK Accountants – Top 40 Firm

This firm is responsible for the preparation of management accounts for a large volume of retail clients. They struggled from a capacity perspective to prepare the monthly management accounts and also to meet and discuss variations with clients on a monthly basis.

Our service to this accountancy firm includes:

  • preparation of monthly/quarterly management accounts to present to the company in a prescribed format agreed in advance;
  • conducting detailed analysis on the variances noted in the preparation of the management accounts; and
  • liaising with any third parties as the accountant requests.

Benefits of using our service:

  • one point of contact who will coordinate and facilitate all communications;
  • high standard management accounts constructed by auditors for auditors; and
  • assurance that your accounting treatments are technically acceptable, properly applied, and reported; resulting in the reduction of disagreements or conflict with your auditors.

“Simply put outsourcing to CPC reduced our labour costs. I pass this benefit onto our clients by spending more time meeting with our clients and advising them. This provides our clients with a higher value added service.”

UK Accountant – Three Partner Firm

The challenge for this firm was to process a large volume of accounts on a tight reporting deadline. With existing fee pressures in the marketplace this firm required a commercially viable solution and also a reliable, timely and high quality service.

Our service to this accountancy firm includes:

  • Statutory Accounts Preparation;
  • Preparation of iXBRL tagged accounts;
  • Preparation of a corporate tax computation and corporate tax return; and
  • Preparation of business plans including cash flow forecasts.

Benefits of using our service:

  • Our team consists of fully qualified staff with a wide range of relevant skills and experience working for organisations. They are fully cognisant of Irish GAAP, IFRS and UK GAAP; and
  • Quality is assured for a very reasonable rate.

“We needed to grow resources to cope with demand but we didn’t want to grow headcount and costs. We always felt outsourcing was a service reserved for larger firms. CPC’s competitive fees have given us an edge over our competitors as well as giving the partners more time to focus on developing and growing the firm. ”

UK Tax Adviser – Four Partner Firm

Initially this firm felt constrained by the January tax deadline in the UK, they felt they had insufficient resources available to satisfy the reporting deadline yet they felt recruiting further staff would mean resources would be underutilized after the deadline period. The high cost of chartered tax advisors in the UK meant forecasting resource constraints was vital.

The firm also required not simply compliance but also advisory support on highly technical topics such as the Patent Box, R&D tax credits, Tax Succession Planning and IHT planning. These are highly specialist areas which most outsourcing companies would not be able to support. This firm also needed tax technical content prepared for their website showcasing their knowledge on recent tax changes for their clients.

Our service to this tax firm includes:

  • Personal/ Income Tax Computation Preparation;
  • Preparation of iXBRL tagged tax returns;
  • Preparation of corporate tax computations and corporate tax return;
  • Preparation of tax advisory reports for clients considering the tax implications of transactions;
  • Technical Tax Support for Partners; and
  • Technical Tax Content in the form of Articles & Blogs for this firms website.

Benefits of using our service:

  • Our team consists of fully qualified chartered tax advisers with UK tax experience; and
  • Our tax advisers have worked in Big Four Firms in the UK. CPC outsourcing offers you access to the Big Four quality without the Big Four price tag.

“We reached out to CPC initially for compliance support, the service was reliable and managed efficiently, now they support our tax compliance and the advisory side of our business”

Finance Company in the UK

This large entity had staff in the UK and Ireland. The challenge for them was monitoring and keeping up to speed with the UK and Irish taxation system and managing the payroll process. Payroll is complicated and time consuming. With the constant changes in the taxation system, payroll management and processing is one of the most challenging responsibilities a company has to deal with each year.

Our comprehensive payroll solution includes:

  • payroll processing in line with your requirements;
  • calculation of all aspects of tax, social insurance, pension, share purchases and other statutory deductions;
  • assisting with the calculation of all notional pay/benefit in kind (BIK);
  • informing you of any budget changes;
  • providing temporary staff to cover leave in your payroll team; and
  • responding promptly to all queries.

Benefits of using our service

  • we provide a single point of contact for all your payroll queries;
  • we can guarantee you full confidentiality around the payroll function as a whole or specific executive payroll groups; and outsourcing payroll allows you to focus on growing your business rather than the day to day administration of your payroll function.

“Managing payroll for a large headcount is a headache, CPC conduct payroll processing for both our weekly and monthly staff and are very responsive to employees, we are very happy with the service.”