Property Franchise

Acting for over 100 franchisees with specialist buy-to-let property portfolios, Morris Crocker have gained a wealth of experience in providing accountancy and business support services for this type of business model.

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The property market has seen fantastic growth in recent years attracting many people to invest in buy- to-let properties and particularly HMO’s (house in multiple occupation). We work in partnership with one of the largest property franchises in the UK by providing accountancy support to their members across the country.

Our client came to us on the recommendation of another franchisee who we provided a similar service to.

Initial meeting

During the meeting we discussed their options in terms of the best structure for setting up the new venture with full consideration for the changes of tax rules relating to buy-to-let property that have recently occurred, such as the changes in tax reliefs and increased stamp duty for those buying second homes.

Accountancy set up

The client decided to purchase the property through a limited company which we set up on their behalf and then implemented a robust accounting system to ensure the client had a clear picture of their financial position. We provided ongoing bookkeeping to ensure records were kept up to date and accurate.

Financial reporting

As part of a franchise the business had to produce accounts not only for Companies House and HMRC but also for the franchisor.  We ensured that all regulatory and statutory requirements were met while fulfilling their reporting obligations to the franchisor.

Tax planning  

Our tax specialists have a wealth of experience in tax planning and were well placed to ensure that the client paid the minimal and correct amount of tax.  This involved looking at other businesses owned by the client to understand how they would interact with the franchise business.  In addition, we were also able to advise on the personal tax planning opportunities to the client as well as looking at issues such as Capital Gains tax and Inheritance tax.

We have removed the client's name from this case study to protect their identity.

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What our clients say...

Morris Crocker has to be the leading accountancy firm for primary Care Finance. They are a one stop shop for financial services; They provide a professional honest and reliable service. They know everything we need to know and guide and advise us through the complex pathways of primary care finance whether you are a PMS practice or GMS practice. As a Practice Manager I rely heavily on their knowledge base and have an excellent working relationship with Wendy Willatts who is our designated accountant and Stuart Cann whose knowledge of financial software packages is phenomenal. They take away the stress and worry of the complex issues that primary care finance brings to every practice - you are safe in their hands.

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