NEW Articles24 Sep 2025
The Advantages of the UK as a Location for a Holding Company
Although we have had some recent economic uncertainties, the UK remains a very attractive location to site an international holding company.
Case Studies
When offline systems fail, what will you do?
Our client returned to their office after the Christmas break to discover that their legacy offline computer system that they’d depended on for years had fallen and was damaged beyond repair. Fortunately, they had many pages of financial information printed out prior to the accident.
The client’s dedicated Alliotts partner immediately came up with a solution to the client’s problem and I was tasked with helping to make it happen.
Armed with those pages and pages of printed financial data and reports, along with the opening balance information from the most recent set of stature accounts, my colleagues and I were successfully able to import this information at the start of the new accounting period.
From this point we’ve implemented additional controls to make sure that this information is kept up to date. We have connected bank feeds to give us bank information on a daily basis, we use external API’s to enable rapid upload of purchase and sales invoices. By taking these measures we’ve been able to ensure that our client is now MTD (Making Tax Digital) compliant. In addition we’ve provided training sessions for our client and the team, so that they can begin to take on some of these tasks themselves.
The introduction of Xero cloud based accounting now provides our client with secure, and more importantly, backed up information. This information is now safe should such an accident ever happen again. The benefits of our solution doesn’t stop there, our client now has access to live reporting, allowing them to easily carry out their credit control procedures and carefully monitor cashflow; something that is currently extremely important to all businesses.
Please contact us if you would like to find out how cloud accounting could help your business.
THE AUTHOR
Partner
More & Other Musings
View all related contentNEW Articles24 Sep 2025
Although we have had some recent economic uncertainties, the UK remains a very attractive location to site an international holding company.
NEW Articles23 Sep 2025
We were recently made aware that in an effort to clear enquiries on an R&D claim under investigation, HMRC called a client directly to ask them some ‘quick questions’.
Articles12 Sep 2025
You don’t want to fall into the same trap as Angela Rayner and assume that the calculation of stamp duty land tax (SDLT) when you buy a property is correct
Articles12 Sep 2025
An important consideration when selling your business is whether business asset disposal relief (BADR) will be available to minimise the capital gains tax (CGT) cost. BADR will be less advantageous from April 2026, so company owners may be looking to sell sooner rather than later.
Articles12 Sep 2025
Shortly before Parliament closed for its summer holidays, the government announced a review of the State pension age (SPA).