IF YOU TAKE CARE
OF YOUR MONEY...
YOUR MONEY WILL TAKE CARE OF YOU.
IF YOU THINK YOU DON’T NEED A FINANCIAL
YOU NEED A FINANCIAL CONSULTANT.
TO HANDLE YOUR TAX, ACCOUNTING, MANAGEMENT REPORTING, COST ANALYSIS, PAYROLL MATTERS,
OR ET CETERA.
CASE STUDY #1 -
Private Company 1
Industry: Export Sales
Annual revenue: R37m
Colossus used a number of means of analysing the company’s expenditure and the controls and rationale over how spending was approached. The process highlighted a number of areas where spending could be trimmed without impacting negatively on the company’s daily operations, the identification and curbing of staff who were abusing certain spending, and access to tax allowances which the company had not previously made use of. Ultimately, this resulted in an overall reduction in overheads of 4.95%, the amicable separation from staff in question, and a 36.09% reduction in annual income tax liability.
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CASE STUDY #2 -
Private Company 2
Industry: Light Manufacturing
Annual revenue: R3m
What began as an exercise to provide the company with a business plan to assist with securing financing, turned into a complete review and overhaul of their financial records and returns. We took over a set of accounting records that were in a terrible state, with SARS returns having been performed only sporadically over the prior 24 months. We proceeded to correct all the errors and provide management with performance and position insights that allowed them to understand how and why their company was performing the way it was, and what they needed to do to make it succeed in future – this for the first time since its incorporation three years previously.
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CASE STUDY #3 -
Industry: Professional Services
Annual revenue: R0.9m
This client approached Colossus after SARS had seized their revenue stream to recover outstanding debt. On further investigation, we identified that the client had outstanding income tax, PAYE and VAT returns dating as far back as 2007, with the latter two accounts as well as their admin penalty account all reflecting amounts due to SARS. Colossus proceeded to restore credible accounting records, where previously there were none, update all returns, and resolve the audits that resulted. In the end, Colossus was able to secure a sizeable refund to the client, despite the extremely adverse starting position. The client’s tax affairs are now up to speed, and for the first time in their history, they now understand what is expected of them, when, and how they need to go about planning for meeting their tax liabilities.
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