“I found McBrides’ support and assistance invaluable during a shareholder buyout. They helped in giving clear advice, enabling me to take decisions to improve the future of International Distribution & Transport Ltd.
Our relationship has continued to grow, I am happy to recommend McBrides’ to all those need a reliable and knowledgeable accountants that offer more than just a set of figures.’’

International Distribution & Transport Limited (IDT) provides freight forwarding services covering both the import and export of goods.

business challenge

Due to name awareness, the Managing Director (MD) approached McBrides to help him deal with some very specific challenges:

• Structure and negotiate the buyout of two of the three original shareholders who between them owned 50% of the company (the MD was the third).
• Review the current accounting and reporting systems utilised by the company.
• Provide tax saving suggestions for the company and the sole remaining director/shareholder moving forward.

how we helped

McBrides carried out an extensive business review highlighting a number of key areas to address. The tax team prepared a report for the MD explaining how to undertake a shareholder buy out with maximum tax efficiency.

McBrides worked alongside the MD in negotiating a deal to buy out the shareholders. After much discussion, the deal was agreed.

McBrides recommended a local firm of solicitors who we able to deal with all the paperwork and formalities. McBrides implemented the most tax efficient structure moving forward which involved the creation of a new holding company.

Following the buy-out, McBrides gave IDT further support, assisting the MD  with the implementation of accounting and management reporting systems to provide monthly information.

it all adds up

The company is now structured to ensure that the risk and reward of the day to day trading rests with the sole director / shareholder and he can alone determine the focus and direction of the business.

The buy-out procedure was planned to ensure that the company was able to continue to trade without cashflow restriction something that may not have been considered via other dispute resolution scenarios.

Support continues with regular meetings and production of monthly management accounts allowing the McBrides team to assist and advise during this next period in the evolution of the company.

“I started my business in 1980, and I went through three firms of accountants in the first year.   McBrides were the third, and they have been looking after me and my businesses for the last thirty years.   It has been an extremely successful and trouble free working relationship.   They are able to make the dry old nonsense of tax returns and P11Ds more or less bearable.  Their advice has been, and continues to be, first class.” NMA Lambarde-Scott FRICS MAE, Scott Davidson Chartered Surveyors.

“We were recommended to switch to McBrides and I’m very glad we did. Their support has helped us navigate a difficult period for the business and made us stronger and more effective. We now look to the future with confidence and unity.”

Steton Associated Works Limited is a well respected provider of hoarding and fencing to the construction industry in the South East.

business challenge

Following a recommendation, they approached McBrides six years ago to help them deal with some very specific challenges:

• structure and negotiate the buy out of a shareholder.
• provide tax saving suggestions for the company and directors moving forward.
• review the accounting systems of the company to provide up to date and accurate management information
• assist the directors to focus on the implications of the accounting results

how we helped

McBrides carried out an extensive business review highlighting a number of key areas to address. The tax team prepared a report for the Managing Director explaining how go about a shareholder buy out with maximum tax efficiency.

Following that report McBrides implemented its recommendations, dealing with all the paperwork and formalities.

The accountancy team also restructured the remuneration packages to reduce tax and improve cashflow performance.

Support was also given with bookkeeping to help identify key management reports and resolve queries as and when they arose, allowing the directors to better understand the figures being produced.

it all adds up

The company is now owned and managed as a family business, structured correctly with the shareholders being remunerated in the most tax efficient manner possible.

McBrides’ support continues via regular meetings in order to review and plan for matters ahead rather than looking at things retrospectively.

The company is now on a path which should ensure that the owners are now in a position to decide both their own and the company’s future.