Mostly Media is a full service creative agency which helps household names and regional businesses by blending print, TV and digital to best advantage. They maximise advertising impact and rigorously measure results which means that their clients are confident that they get the best return on their investment.
We had been working with them for over 25 years, helping them grow and develop a property portfolio to underpin the main trading activity as part of a small trading group. Because of this, the corporation tax bill grew and as time had passed, there was a need to provide succession and eventual retirement.
Restructuring the group and utilising existing reliefs has produced savings of £10,000 a year in corporation tax. We also achieved a one-off personal tax saving of £60,000 for the directors. We have also restructured the management remuneration which has reduced the corporation tax again by about another £20,000, with no impact on the personal tax bills of the directors.
We have worked with them to ensure that their objectives are met upon eventual retirement and that a suitable succession plan is in place with management training where necessary. This has resulted in more choices available to the directors, and whilst they have not retired, they can now choose when to do so.
Here’s what they said
Hixsons have guided our business for the last 25 years, they have always been proactive in the way they have advised us, unlike many large accountancy firms, who never vary their advice and show a reluctance to come forward with new planning tools. I can safely say that Hixsons have been an asset to our company’s growth and prosperity.