MacIntyre Hudson LLP

A Case Study By MacIntyre Hudson LLP

We were asked by a listed Indian company to assist them in establishing their UK subsidiary. The subsidiary was to be involved in car racing. Once the company was formed, we were asked to assist them with setting up their accounting records and provide them with monthly management accounts information. This involved us dealing with the UK Managing Director (“MD”) and the parent company financial controller, originally based in India. The MD was recruited from the US and we helped in obtaining the appropriate visa by working with the company’s lawyers. Initially the company had a few transactions and over a period the number of transactions has increased considerably. The annual value of the transactions is now several million pounds. As the volume increased and there was need for regular payments, so we set-up appropriate banking systems where we upload the invoices and payments so that approvals could be done remotely. We assisted the company in obtaining a VAT registration and PAYE r

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19 March 2005