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We were first recommended to
Alan Solomons + Co when we were selling our Ironmongers business.
They advised us on the tax aspects of the sale and helped in the final
negotiations. I must admit I had certain apprehensions when we went
to the meeting for the final negotiations. The other side was a company
that had a team doing nothing but going round the company buying up
ironmongers. How was a local accountant going to have any impact on
them?
As it turned out Mr Solomons convinced them that
our business was worth much more money than they were offering. Indeed
much more than the maximum that their Chairman had authorised them
to offer. They had to go back to him to get authorisation for an offer
above the maximum already authorised, which they duly obtained.
On top of this it later transpired that Mr Solomons
had slipped in a clause that meant were paid by the purchasers the
full tax relief on our single premium pension premium instead of only
one fifth. Their accountant did not pick up on the tax implications.
This meant that we received an extra £27,600 plus £34,000
from the increase in the final price. The original offer of £286,000
had now become worth £347,000.
After the business was sold we wondered how to invest
the money. Hearing that Mr Solomons specialised in dealing with investments
we were more than happy to let him advise on all our monies. We had
sizeable portfolios of shares that Mr Solomons wisely advised us to
liquidate. Luckily most of our shares were sold before a crash in
the market. We have been happy with his advice ever since.
Bernard Romany
Watford
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Alan Solomons + Co
2 Gayton Road, Harrow, Middlesex HA1 2XU
Tel 020 8901 7580 Fax 0870 4299468 Email info@alansolomons.co.uk
also at: Fleet House, 8-12 New Bridge Street, London
EC4V 6AL
Authorised and regulated by the Financial
Services Authority for investment business
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