Jigsaw is a creative and independent design practice specialising in commercial projects, private residential and show homes within the south coast. They provide a comprehensive interior design service with a focus on attention to detail and working in partnership with clients.
The issue
When we met the owner of Jigsaw she was paying a lot of tax whilst trying to grow the business quickly. She had cash challenges arising from the way the tax payments system works for self-employed. Like many sole traders she needed a break, having no holiday for 8 years and needed to have some control over her business.
The solution
We helped her incorporate the business, negotiated with HMRC over the valuation of goodwill to get the results she needed. We followed up with planning to align her business and personal objectives together with designing management and accounting reports that were meaningful, with help in understanding them. We set up quarterly meetings to keep the business on track. We helped her produce a business plan and negotiated with the bank for extra funding to support growth.
Results
Bank funding was secured. The owner has taken 2 holidays in 8 months because the business is under control following new staff appointments and cash being eased by a one-off tax saving of £18K. There are also predicted annual tax savings of £6K. Because it is easier to control now, the business is expanding and opening a London office.
Here’s what they said
“We have regular review and strategy sessions with Nick. To be honest we have just done what he says and it has worked – we just keep growing.”
Melissa Horne
Director
Jigsaw Interior Design
