Founded in the UK, ‘Company X’ grew to be one of the world’s leading specialty manufacturers in the plastics industry. With ubiquitous products, used by hundreds of millions of people every day, they are seen in grocery stores worldwide; including retail giant Walmart.
With offices and production facilities in several countries, the companies accounting and tax situation is complex to say the least.
Consultancy accountant advice from RHJ Accountants
‘Company X’ realised just how complex their accounts and tax situation was becoming; leading them to reach out to RHJ Accountants. Taking on the companies UK business, an assessment from RHJ soon revealed they were paying millions more in UK tax than necessary.
Working with the directors on the bookkeeping, accounts and tax numbers – it became clear something needed to change quickly.
Involving international tax advisors
The official headquarters of ‘Company X’ is Portugal. With their Portuguese accountants expertise ending at the waters edge, their international position wasn’t considered holistically.
This led to ‘Company X’ paying the price – in tax. The team of international tax advisors from RHJ Accountants were able to save ‘Company X’ over £3-million in tax.
RHJ’s Consultancy Accountant Service assisted ‘Company X’ with a comprehensively global, strategic tax plan. The new business structure allowed the directors to shift much of their tax burden to Portugal, where they benefitted from a lower tax rate; and enjoy more of their firm’s earnings, year after year.
