All countries are now up-to-date with their monthly, quarterly, and annual reporting, and Crowe's relationship with the client continues to grow. Alongside this work we are identifying and implementing processes, reporting improvements and saving the client in professional fees.
Our initial engagement was for indirect and corporate tax compliance, but this quickly expanded to include annual financial statements preparation and audit support across 15 countries. By providing a centralised point of contact we were able to take ownership of delivery and compliance, getting them up to speed in the local countries and advising along the way to improve process and on the level of tax reporting required.
They found dealing with individual offices in 15 countries was extremely time-consuming and the quality of service received varied significantly. Alongside there were non-compliance problems, with some countries falling over two years behind on their yearly reporting.
Solution
Issue
Outcome
Our client split from a major US global technology company, where they had previously engaged with a Big 4 provider to handle their corporation tax compliance, financial statement, and indirect tax needs.
Case study
How we have helped our clients
Crowe saved the client a minimum of $6,000 in year one alone and enabled the client to legally hire their own employees in the UK.
We advised to register the US company as a non resident employer in the UK and operate monthly payroll for the two employees for an annual total of $3,000. In addition, we were able to establish and operate the mandatory local pension plan and obtain small group health insurance cover (not mandatory) for an additional $3,000.
Having spoken to a number of employer of record companies and the annual fees ranged from $12,000 to 15% of total compensation ($45,000 per year). They were uncomfortable with the idea that these two key hires were going to be employed by a third-party but would be carrying US Company business cards, holding themselves out as employees of the US Company and could potentially create both employment and tax liabilities for the US Company.
Solution
Issue
Outcome
A holistic approach to cost reduction, identifying and eliminating inefficiencies across various back-office functions.
Our client wanted to hire two sales people in the UK but they were not ready to commit to establish a permanent local presence. They wanted to treat these hires as employees, providing stock options and local benefits.
Case study - Catamorphic Co.
How we have helped our clients
All countries are now up-to-date with their monthly, quarterly, and annual reporting, and Crowe's relationship with the client continues to grow. Alongside this work we are identifying and implementing processes, reporting improvements and saving the client in professional fees.
Our initial engagement was for indirect and corporate tax compliance, but this quickly expanded to include annual financial statements preparation and audit support across 15 countries. By providing a centralised point of contact we were able to take ownership of delivery and compliance, getting them up to speed in the local countries and advising along the way to improve process and on the level of tax reporting required.
They found dealing with individual offices in 15 countries was extremely time-consuming and the quality of service received varied significantly. Alongside there were non-compliance problems, with some countries falling over two years behind on their yearly reporting.
Outcome
Solution
Issue
Our client split from a major US global technology company, where they had previously engaged with a Big 4 provider to handle their corporation tax compliance, financial statement, and indirect tax needs.
Case study
How we have helped our clients