RE: Engagement
Afternoon Simon,
Thanks for your time on Monday.
I think myself, Mum, Dad and Ellie would all be keen to utilise your services and clear knowledge/experience, and coupled with your impartiality I hope this will benefit us as a family both with the short term financial new build considerations, and the medium/long term inheritance tax planning.
However I am still a little unsure exactly as to how it will be best for us both going forwards.
What I mean by that, is in my mind we have a busy month or so in terms of adjusting/moving finances for the SASS along with setting it up. Then its likely nothing will happen with the new build until the summer of next year at the earliest. How do you anticipate this ‘retainer’ working when there’s nothing much to do in these large periods of downtime? I would anticipate that once the new build gets under way we would need some advice/guidance in the drawing of funds from the SASS etc, then later down the line when the shop is built we can then start looking at the best ways of tax avoidance (rent/directors loan repayments etc) and IHT planning.
As always, welcome your thoughts.
Kind Regards,
Andrew Prior.
01553 773677
164 St Peters Road, West Lynn, Kings Lynn. PE34 3JF.
www.priorsofwestlynn.co.uk
From: Simon Ring
Sent: 23 November 2022 11:36
To: This email address is being protected from spambots. You need JavaScript enabled to view it.
Subject: Engagement
Morning Gentlemen
It was great to see you both on Monday and I am honoured that you felt able to provide me with so much personal information about yourselves and your business. I do feel that I can add an enormous amount to your business plans and ongoing from that with tax planning advice to the Directors. I did stress, and do once again, that I am no longer authorised and regulated by the Financial Conduct Authority and as such cannot advise on any investments or contracts that are themselves regulated. All of the areas we discussed were not regulated, indeed no tax planning is regulated or are trustee services. When work is required by a regulated individual I will point it out to you so that you can engage a Financial Adviser. I will, of course, be happy to help you get the best value out of the advice they give. You may also require the assistance of a legal adviser at various points which I will be happy to negotiate for you.
I offered at the meeting to come on board as a business consultant on a retainer of £250 pm for at least the duration of the build project. This is early days for my new venture and I suspect I am selling myself far too cheap considering the level of tax savings my guidance will create, however, that is what I said so that is what we will stick to for this project. Once we get going it may be that you want me to look further into other tax saving ideas that we touched upon.
Should you wish to engage me I suggest that we get cracking as time is of the essence. I would be happy to talk to your Financial Adviser on areas that they will be needed for and negotiate any fees with them for you. May I suggest that should you wish to proceed we have a start date of 1st December, which will be from when the first month's retainer will begin. I will be operating through my family business, called Ruby Circle Ltd. If you are happy with this then I suggest that we have another very quick chat next week to agree the next steps.
Thank you once again for considering that my services may be of assistance and I look forward to working with you for as long as you deem necessary.
Kind Regards
Simon Ring
