Trust is a factor that shouldn’t be underestimated in any relationship, especially the one between a business and its accountancy firm.
ARC (Europe) Ltd is a debt collection agency based in Walton-on-Thames, which was originally owned 50:50 by Dewi Fox, the managing director, and a partner who took care of the accounts through his own accountants.
When Mr Fox bought out his partner, he wanted to bring in his own firm of accountants whom he trusted. After looking at two or three different firms, he chose TWP.
“I met Phil Munk and got on with him,” explains Mr Fox. “I found him very personable and liked what he said.”
TWP takes care of the monthly payroll and annual accounts, and also set up ARC’s Sage software. As the debt collection agency doesn’t have much relevant expertise in house, TWP also guides them through the process from time to time.
The accountants also provide personal and company tax advice, which has been very beneficial, as ARC’s Corporation Tax liabilities have gone right down, resulting in substantial savings.
“The good thing is, if we are not sure of anything, we can just pick up the phone or send an email, which is great,” says Mr Fox. “When I started doing business with a company in Holland and wasn’t sure of the VAT situation, Phil sorted it out for me.
“TWP are very reactive when we need advice, and very proactive in making recommendations to help us. The firm is very hands on, and if Phil sees something he thinks could be useful to us, he asks if I am interested and we talk it through.
“As well as the tax savings, I benefit from knowing there is help at the end of the phone. For example, we don’t have a personnel department, so I run things by TWP from time to time.”
Mr Fox would definitely recommend TWP to other companies as he is “very, very happy” with the service provided.