CerTax Prospectus
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Contents
1. Introduction
2. What to do next
3. The History of CerTax Accounting
4. Organisational Network / Key Personnel
5. Teritory
6. Marketing
7. Taxation
8. Miscellaneous
9. Technical Support
10. Accountancy
11. Practice Development & Mentoring
System
12. Instructional Manuals
13. Training Program
14. Finances / Cash Flow Projections
15. Franchise Agreement
16. Management Service Fee - What is
it for !
17. Making the Decision
18. Questionnaire
19. Testimonials
20. Bank Contacts
21. Bradshaw Doody, Chartered Certified
Accountants
1. Introduction
Keith Bradshaw, F.C.C.A is a Chartered Certified Accountant,
senior Partner in Bradshaw Doody & Co., Chartered Certified
Accountants and founder of CerTax Accounting Ltd.
The Franchise was started in September 1999 and ran its first
training course in January 2000. Since this date over 100 Franchisees
have joined our Organisation and are enjoying the benefits of
belonging to a professional Accountancy Franchise.
The objectives of the Franchise can be summarised as follows:
- To Train Individuals in all the basic disciplines
required to operate their own Accountancy Practice
The Training staff are all either qualified or experienced Accountants
with many years involvement in Practising Accountancy.
- To technically Support each Franchisee during the
period of their contract in all aspects of operating their own
Accountancy Practice
- To Provide Marketing Assistance by way of a telemarketing
team specifically dedicated to obtaining Appointments with potential
clients in a Franchisees' area.
- To Monitor Practice Development ensuring as far as
possible that your practice is a success, both professionally
and financially.
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2. What to do next
In order to progress to the next stage in becoming a CerTax
Accountant, please complete the attached questionnaire to be
found under section 18 and return to us via fax or e-mail.
Upon receipt of this we will contact you to arrange a suitable
date for you to attend one of our
presentation dates in Chesterfield. This will enable us to give
you a detailed insight into the workings and objectives of CerTax
Accounting.
We look forward to meeting you in the near future!
3. The History of CerTax Accounting
Since running its first Training course in January 2000 CerTax
Accounting now has over 100 Franchisees situated throughout the
country. A sample of our members and their thoughts since joining
the organisation can be found in the "Testimonials"
section of this Prospectus.
Certax Accounting has been awarded FULL MEMBERSHIP STATUS
of the British Franchise Association complying with all the exacting
requirements necessary to achieve this.
The Organisation operates from two professional commercial
offices in Chesterfield, Derbyshire
which accommodates 16 members of staff in addition to the four
Directors.
4. CerTax Accounting Key Members
of the Organisation
Keith Bradshaw, F.C.C.A.
Qualified as a Chartered Certified Accountant in 1987 and
set up his own practice in 1989 which now attends to over 400
clients. He founded Certax Accounting in September 1999 which
now supports over 100 Franchisees.
James Doody, A.C.C.A.
Qualified as a Chartered Certified Accountant in 2001 and
has a vast experience in running his own portfolio of clients
with a major practice of Chartered Accountants over the last
nine years. James joined CerTax Accounting in October 2002 and
will add his wealth of experience in help line support, Training
and Franchisee Practice Development.
DAVID NICOLL, FFA
David Nicoll is an experienced Accounting Practitioner and
has A particular expertise in marketing Accountancy Practices.
JON NEWTON, A.C.A.
Jon Newton is an experienced Chartered Accountant whose specialism
is “Practice Development”
GEOFF NOBLE, C.T.A.
Geoff Noble heads the organisations technical department and
as a qualified Chartered Tax Advisor is responsible for issuing
guidance to members on all technical matters.
KEN GLENDINNING, ACMA
Ken is a qualified Chartered Management Accountant
and combines his success as a Franchisee with his contribution
to the running of The Association of CerTax Accountants. This
is a separate Limited Company which receives £300 per annum
from each Franchisee and whose sole objective is to promote the
Name and Brand of CERTAX ACCOUNTING
TECHNICAL SUPPORT
Our technical support team are either all professionally qualified
or experienced in an accounting practice environment. We are
also able to supply a statutory audit facility - so that any
clients of franchisees who have a turnover in excess of £5,600,000
will not have to be passed on to another firm of Accountants
and ultimately lost. They can be retained as accounting clients
with the audit facility taken care of by head office without
any fear of losing the client.
KEITH BRADSHAW, F.C.C.A.
JAMES DOODY, A.C.C.A.
GEOFF NOBLE, C.T.A.
JAYNE WRIGHT - SECRETARIAL & ADMIN
MARGARET TURNER
CARLA SMITH
SCOTT BRADSHAW, A.C.C.A.
PAT SHAWCROFT
LIAN DOHERTY, A.A.T.
JON NEWTON, A.C.A.
TELEMARKETING/CALL CENTRE STAFF
MARGARET BRADSHAW - (SUPERVISOR)
ANGELA JONES
SUE OVERTON
JANET KERRIN - (TEAM LEADER)
CHARLOTTE HEALEY
AMY RODGERS
AMY EVANS
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5. Territory
We will ensure that the exclusive territory allocated to yourself
will be an area adequate to ensure your practice can grow to
a size equal to many medium sized established Accountancy Practices
in your area.
The area will contain approximately 125,000 population and
a corresponding business count of approximately 3000, which we
know to be sufficient to build a successful practice.
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6. Marketing
OBJECTIVES
The objective of most marketing exercises is to attract new clients
in order to sell ones services or goods. Our objectives are no
different to this but our techniques are very different from
those used by most traditional accountancy practices. It is fair
to say that many of our franchisees who have no sales background
are apprehensive about this aspect of a business.
With our lead generation department, however, this apprehension
need no longer be an issue. As a Franchisee will only join this
part of the process when a prospect has been identified and indicated
a wish on their part to see the Franchisee. In other words you
need play no part in the initial contact, leave this to us.
LEAD GENERATION SYSTEM
Our lead generation department is dedicated to the cause
of attracting new business clients to your
practice. You will receive, initially, at least 20 genuine
potential new client leads, as part of our commitment to ensure
a positive start to your practice. Our team of telemarketers
will contact the prospective business clients in your area and
obtain appointments for you to attend an initial meeting. There
are very many dissatisfied clients in today's business world
and until they are given a viable alternative to their current
Accountant they will often remain dissatisfied. Our marketing
system, involving our call centre team gives your local business
community this alternative in a professional and effective way.
Appointments arranged, therefore, are with prospective clients
with good reason to use your services which is why most Franchisees
will convert between 50/75% of prospects into CLIENTS.
WHY CHOOSE A CERTAX ACCOUNTANT
Most practices of our existing Franchisees have grown for
two reasons:
Lots of Accountancy & Tax work needed by today's business
community Many dissatisfied clients with the services being supplied
by their current Accountant
The following quotes are very typical from many clients of established
Practices:
"I see a different accounts clerk every year, there is no
personal service any longer"
"My Accountant has had my books & records for several
months now and I've heard nothing from him"
"The fees paid to my Accountant this year are extortionate"
" My Accountant no longer seems to be interested in saving
me tax any more"
These are only some of the reasons why clients today are dissatisfied
with their current accountant and identify the many areas which,
with our franchise, you could improve upon and build your client
base with a better service than they are currently receiving.
INTERVIEW TECHNIQUES
Our Practice, Marketing advisor, David Nicoll is an experienced
Accounting Practitioner. David will be passing on this experience
as part of the training course which will also include Networking
tips and "role play" techniques to assist with client
meetings.
FEE LEVELS
You will need to be able to calculate fee levels in order
to give clients an estimate of your costs. The Training course
will include a full session on time management and fee level
calculation.
PROMOTIONAL MATERIAL
At the outset you will receive 1,000 colour professional
brochures, 1,000 letterheads and 1,000 business cards. You will
also receive topical Branded Newsletters periodically throughout
the year, along with Branded Tax Fact booklets following each
Budget.
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7. Taxation
Software
There are two main technical subjects within the Franchise,
Accountancy and Taxation. You will be supplied with a Tax Software
Package written by Drummohr Technology which has been approved
by the Inland Revenue. It is not available through high street
shops as it is written specifically for professional use only.
You will be given a detailed demonstration of the workings of
this package at one of our presentation days held regularly throughout
the year.
The Tax Software will link electronically to the Accounting Software
so that Profit & Loss and
Balance Sheet figures can be transferred at the click of a button
and a tax calculation schedule
produced instantly.
Manuals
Model tax Return/planning files are included plus instructions
on how to use the software are included in the tax manuals.
Library
A library of taxation books and study packs will be given
out upon the commencement of the Initial Training Course.
Technical Support
Members of our staff comprising of Qualified and experienced
Accountants will be on hand to assist with any tax related query
either via telephone, e-mail or fax five days per week from 9am
to 5pm
Training
Overleaf is a break down of the various topics covered within
5 tax modules which will ensure you have an understanding of
the fundamental aspects of all the major taxes within UK tax
legislation.
Live Cases
Because we are the only Accounting Franchise in the country
which is supported by our own Chartered Certified Accountancy
Practice, we are able to provide "Live Case" practice
for our members as part of the Initial Training course.
Taxation Lectures
Module
TAX 1 - Introduction to tax system
Schedular System
Savings income/ Dividend income - Tax implications
Basic personal tax computations
Badges of trade
Employment / Self Employment / IR35
Taxable profit Computation
TAX 2 - Basis Periods - Commencement / Cessation's
Choice of year ends re own Accounts
National Insurance Regime
Losses
Partnership Taxation
TAX 3 - Sch E emoluments
Benefits in kind
Authorised mileage rates
PAYE calculations
Termination payments
The PAYE System
Capital Allowances
Tax Planning examples
TAX 4 - The Corporation Tax
Conversion to Limited Status from Sole Trader
Dividend policy
TAX 5 - Capital Gains Tax
Inheritance Tax
VAT
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8. Miscellaneous
Computer Equipment
You will need to ensure you have an up-to-date computer system,
along with either a laser or Deskjet printer.
Telephones
Your business telephone line will need to cater for your business
telephone, fax, e-mail and internet connection.
Stationery
We will supply you with 1000 letterheads, 1000 colour, professionally
designed brochures and 1000 business cards.
Professional Indemnity Insurance
We will assist you with completion of application forms for
the above insurance and also ensure this is in place prior to
your practice commencing.
Accountancy and Tax Software
We will supply you with all the accountancy and tax software
you will need in order to operate your practice in the most expedient
and professional manner.
Internet
You will have a presence on our Franchisee Website, enabling
a potential client to view your details at the click of a button.
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9. Technical Support
You will have access to our Technical Support Team 5 days
a week from 9am- 5pm daily.
This is a crucial part of the Franchise operation especially
during the initial months after the practice commences.
Our team of qualified and experienced accountants will be
available to receive your queries either by fax, telephone or
e-mail.
You can be assured, therefore, that you are never alone during
the time of your membership with our organisation.
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10. Accountancy
Types of Accountancy Work
Full In-House Accountant
Where a client wishes you to effectively be their in-house-Accountant,
you will request all the source documents, e.g. bank statement,
cash book, invoices, VAT records etc and enter this information
into our book-keeping software on a monthly or quarterly basis.
The system will then produce balanced books and records, aged
debtor and creditor listings, VAT reports, trial balances and
monthly accounts.
Annual Accounts
As an alternative to this, the client may attempt to keep
their own books and records and ask you to prepare annual accounts
and tax planning work using this information.
Our accounting software will deal with either of the above
scenarios or indeed any combination of
Accounting, Tax and VAT requirements.
At our presentation day we will demonstrate the working of
this software, showing how this will produce all the accounting
records, VAT reports and final accounts needed to run an efficient
and professional practice.
Our training course will illustrate exactly how to use the
software and once you are in the real world, you will have unrestricted
access to our technical help line with any queries you may encounter.
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11. Practice Development & Mentoring
System
PRACTICE DEVELOPMENT
A practice review panel is in place which will produce statistical
information on a regular basis to help franchisees assess their
practice as a comparison to other Franchisees as well as against
their own initial annual expectations. Advice and recommendations
will be given to ensure your practice develops at the pace that
suits each Franchisee.
This will enable us to assist you in such decisions, as, whether
to operate from office premises, the location of these premises,
staffing levels and rates of pay etc.
MENTORING
In addition to the practice development procedures referred
to above, a mentoring arrangement is in place, which will include
weekly contact by an experienced Accounting Practitioner, on
a one to one basis, for the first three months to assess Franchisee's
progress, address any concerns and help with any technical issues
that arise. After this period the Technical Support Team will
be available at your request.
SEMINARS
We are committed to ensuring that our Franchisees are constantly
technically updated and, as such, undertake to arrange two seminars
per year, lasting two days for each meeting.
We will ensure that speakers of the highest quality are invited
to speak on topical subjects relevant to the running of your
practice.
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12. Manuals
You will receive the following manuals:
Accountancy
This will include:
Step-by-step process for using the accounts software
Step-by-step process for reviewing accounts
Journals checklist
Model client accounts file for soletrader and limited company
Taxation
Step-by-step process for using the tax software
Model client taxation file for:
Individuals
Partnerships
Limited companies
Standard Letters
Professionally worded letters divided into the following categories:
Non-limited Company entities
Limited Company entities
Taxation
Company Secretarial
Marketing
Introductory mail shot letters
Marketing Plan
Suggested fee levels
Selling theory in relation to Accountancy
Proven selling guide for Accountancy Practices
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13. Training
|
|
Week 1
CerTax Head Office |
Week 2
CerTax Head Office |
Week 3
Home Study |
Week 4
Home Study |
Week 5
CerTax Head Office |
|
Monday am |
Double Entry Book-keeping |
VT Transaction Reports |
Superior Signs case study |
Sole trader Accounts prep . Case Study 2 |
Review Superior Signs case study |
|
Monday pm |
Taxation 1 |
Sales & Marketing |
Superior Signs case study |
Self Assessment Case Study 7 & 8 |
Limited Company Intro. Minutes , resolutions & Incorporation |
|
Tuesday am |
Accounts preparation |
Taxation 5 |
Superior Signs case study |
Sole trader Accounts prep . Case Study 3 |
Limited Company Accounts preparation - Case Study |
|
Tuesday pm |
Taxation 2 |
Final Accounts preparation - Sole trader case study |
Superior Signs case study |
Self Assessment Case Study 9 & 10 |
Limited Company Accounts preparation - Case Study |
|
Wednesday am |
Manual tax Return cases |
Final Accounts preparation - Sole trader case study |
Sole trader Accounts prep . Case Study 1 |
Sole trader Accounts prep . Case Study 3 |
Standard Letters, Time Management, Charge out rates |
|
Wednesday pm |
VT/ Tax software installation |
Sales & Marketing |
Self Assessment Case Study 1 & 2 |
Self Assessment Case Study 11 & 12 |
Financial Services, Investments, Raising capital, Pensions etc. |
|
Thursday am |
VT Transaction software |
Sales & Marketing |
Sole trader Accounts prep . Case Study 1 |
Marketing Research |
Preparing for Practice Launch, Final Marketing Preparations |
|
Thursday pm |
Taxation 3 |
Sales & Marketing |
Self Assessment Case Study 3 & 4 |
Taxation 6 |
Meet the staff of Chartered Business Marketing |
|
Friday am |
VT Transaction software |
Computerised Self Assessment Tax Return Cases |
Sole trader Accounts prep . Case Study 2 |
Review Practice Procedures manual |
Open forum to discuss any unresolved issues or matters not completed
during the course. |
|
Friday pm |
Taxation 4 |
Computerised Self Assessment Tax Return Cases |
Self Assessment Case Study 5 & 6 |
Taxation 7 |
|
There will be a management service fee to cover
support and periodic seminars of 8.5% of turnover.
17. Making The Decision
Why choose this Franchise:
a) Supported by an established firm of Chartered Certified
Accountants.
This is currently the only established Accountancy Franchise
which is supported by the owners existing Accountancy Practice.
(Bradshaw Doody & Co.)
The Practice was started by Keith Bradshaw in July 1989 and now
has over 500 clients. The importance of this arrangement means
that franchisees benefit from the experience of Qualified Practising
Accountants who not only educate the franchisees in the theory
of tax and accountancy but also in the day to day practicalities
of how to apply this theory in the real world.
b) Commercial Angle on how to make the Practice Profitable.
Another important effect of being associated with our own
Accountancy Practice is that we are able to show you not only
how to provide the services, but also how to provide the service
in a commercially profitable and professional manner.
c) Constant Technical update.
We will ensure that your are kept up to date with all and
any changes in legislation affecting the operation of your practice.
This will be achieved by running seminars twice yearly where
we invite outside specialist speakers to update us on topical
issues occurring at the time. You will also receive newsletters
periodically and updated software in relation to accountancy
and tax.
d) Added security of being ACCA members.
Prospective franchisees have the reassurance that we as the
Franchisor have not only satisfied the requirements for full
membership of the BFA but also as individuals are members of
the Association of Chartered Certified Accountants and as such
have an obligation to ensure all our business affairs are conducted
in a trustworthy and professional manner.
f) Limited Company Audit facility.
A further advantage of the Association with Bradshaw Doody
& Co Accountancy Practice is that a statutory Audit facility
can be offered to your clients by your practice allowing you
to carry out the accountancy service and our associate practice
to deal with the audit requirement.
g) Financial Services.
Our financial services department will enable you to offer
the full range of financial services and products to your clients
in a similar way to those offered by many established high street
practices.
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18. Questionnaire
Please click here to complete the
questionnaire
