John Malthouse's firm has grown almost beyond recognition since its foundation 35 years ago, but many of his original clients remain.
He was a sole-practitioner when he launched the business, in borrowed office space in Liverpool. Today there are 20 staff, including eight fee earners, based in an historic building in the heart of the city centre.
However, the core values established back in 1976 — personal service, reliability and trust — still hold good. When clients call Malthouse & Company they can normally expect to speak to a partner straight away.
The Challenge
It is a traditional approach that has reaped dividends for the company of chartered accountants and business advisers, which relies purely on referrals and recommendations for obtaining new business. Malthouse & Company has a reputation for a diligent approach to a wide range of tax and accountancy issues.
“We major on personal contact,” explains Mr Malthouse, a former chairman of the Institute of Chartered Accountants Practice Society. “We’re not flashy and we believe in old-fashioned relationships, but that doesn’t remove the need for competence.”
The bulk of Malthouse & Company's work revolves around accountancy and tax advice for individuals and companies, along with audits. Much of the business is high-end and the firm's city centre presence is reflected in a client base which is up to 90 per cent from the Liverpool area. Among the independent company's clients are more than 100 barristers.
Increasingly Mr Malthouse and his colleagues also find themselves delving into complex areas, such as trusts and inheritance tax. Another fruitful area is providing detailed litigation support, in most areas of accountancy.
The Solution
The company has a hard copy library and has always relied on Simon's Taxes for tax commentary and guidance, across most practice areas.
“It is quite simply the most authoritative tax reference manual on the market,” says Mr Malthouse.
“It is the definitive book and is the foundation of our library. In my opinion no company similar to ours can have a proper library without Simon’s.”
“The commentary and discussion it provides is intelligent and essential.”
Simon’s is the cornerstone of your tax library, providing you with expert practical and authoritative guidance written by leading practitioners drawn from a range of different disciplines and reviewed by the distinguished Simon’s editorial board.
The Results
Mr Malthouse says: “Simon’s gives us the confidence to take on complex work. Only in extreme cases do we have to seek a second opinion. I estimate that Simon’s has enabled us to generate an extra 20 per cent work across the practice, including high-end work, generating bigger fees.”
“Simon’s makes us authoritative and we know we can hold our own against any of the big national firms. As a result our clients trust us for routine work, and for their business which is not day-to-day. Simon’s allows us to challenge HMRC manuals, which is exactly what our clients demand.”
Mr Malthouse also praises Simon's for its comprehensiveness and the regular updates, which ensure the company is always up-to-date and can be proactive in the services it offers to clients.
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