The ability to listen and learn from one another has always been vital in parliament, in business and in most aspects of daily life. But at this particular moment in time, as national and global events continue to reiterate, it is uncommonly crucial that we forge new channels of communication and reinforce existing ones. The following article from M S R Group is an attempt to do just that. We would welcome your thoughts on this or any other Parliamentary Review article.
M S R Group
Rt Hon The Lord David Blunkett
Rt Hon The Lord Eric Pickles
THE PARLIAMENTARY REVIEW
Highlighting best practice
32 | MSR GROUP
Owner and Founder
To be an accountant can mean more than being financially
adept; indeed, it’s often accountants themselves who have
some of the greatest insights into business success, not least
because they themselves are running businesses. Mahadevan Ruban,
Founder and Director of east London-based MSR Group, is one of
those rare accountants who has indeed become a serial entrepreneur.
Although fundamentally an efficient tax and accounting practice, the
group has diversified considerably. In addition to their traditional role,
they now also function as an umbrella company, employing people
between different agencies, which has been a major source of growth
for the company. Mr Ruban says more about this diversification and
change in management strategy.
Our core offering
Since our founding in 2005, we have diversified in a number of interesting directions. Before
discussing the ways in which we have diversified, it’s first worth discussing something
that hasn’t changed, which is our core mission statement: We seek to use our accounting
expertise to meet the needs of our clients through timely, efficient and innovative support.
However much we change in the future, this core aspect of the business will go unaltered.
We specialise in accounting and tax planning, all the way up to HMRC queries. When our
clients come to us, they can expect no blind spots in our knowledge. Our tax investigation
specialists are highly professional with up-to-date technical knowledge. Our advisors’
skills are based on problem-solving and make reference to case law. This experience and
expertise enables the team to highlight clients’ problems and to negotiate with HMRC
towards quick agreement on the proposals. Our records show that we routinely win tax
cases and solve them within a maximum of three meetings with HMRC.
Along with our conventional accountancy and business consultation services, our tax
investigation help team also offers tax consultancy services throughout the UK. Such
»HMRC queries related to corporate or personal tax or VAT investigation
»Direct communication and control of tax investigation matters for the best interests of
»Challenges to HMRC’s cases regarding the dues, refusals and penalties imposed on the
Our tax cases include corporation tax, self-assessment, capital gains, VAT, CIS and PAYE.
We’re also experienced in solving more complex cases, in particular the challenges of
COP9, COP8, Sec 9A, Sec 36 and VAT PN160.
We take matters beyond HMRC (if not resolved earlier) to independent or tribunal review.
We can intervene in any stage of an appeal, from submission of the appeal, through case
preparation, all the way to representation at the hearing.
MSR Property Consultancy Services
MSR Property provides a full estate agency service at a low cost. A one-off fee is payable when
a landlord instructs us and uses the conveyancing service, or only when the property sells.
AT A GLANCE
»Owner and Founder:
»Established in 2005
»Located in east London
»Services: Tax services,
accountancy and umbrella
»No. of employees: 18
33MSR GROUP |
BEST PRACTICE REPRESENTATIVE 2019
If the property is not sold within six months,
we continue to market the property until it
does without asking for more money.
The landlord can track property sales online
every day of the week and visit our office
to discuss matters. We have experienced
valuers, negotiators and sales progressors
who help at every stage of the sales process,
from appointment through to completion.
An umbrella company is a large company
with many employees. The people employed
in such companies are not the directors of
the company, nor are they shareholders
or partners. They are nevertheless entitled
to tax-free consumption, like any regular
employee. These costs are reimbursed by the
money produced by the companies.
Many contractors join umbrella companies,
who then manage their pay-related tax
concerns after performing a job. We
knew we had the expertise to perform a
service of this kind, which is why we set
up Platinum Umbrella, a branch of the
MSR Group. In this regard, we focus a
lot on, among others, IT consultants and
doctors or nurses. It didn’t take long to
realise this was a good idea, as we’ve
grown enormously since setting it up. Both
turnover and profits are very high.
It’s not just a matter of handling PAYE
concerns, though; we provide help at
juncture. We let contractors know exactly
what it is they are signing up to, and
we handle all the difficulties relating to
paperwork. Be it holiday pay or their right
to work, we ensure that the process of
gaining work is as seamless for contractors
A steep learning curve
Starting umbrella services immediately
presented challenges for us. Despite
having the know-how to conduct such
business, we were not yet fully acquainted
with the standard model of operating
in this area. How to create contacts,
communicate with recruitment agencies,
understand the employers’ points of views
and administer such varied groups of
people – all of these required a great deal
of study and preparation.
Because the service we provided was
of such a high standard, we began
to connect with employers through
word of mouth. Within only a year of
setting the service up – from December
2017 to September 2018 – we grew
from managing roughly 100 people’s
employment to 1,000. Having achieved a
turnover of millions of pounds from doing
this, we have shown that hard work and
entrepreneurial zeal can pay off.
The outcome of this is that we now have
in-house professionals who have become
experts in this field. Not only have they
learned to do this proficiently, but they have
also managed to bring this business model
to scale, performing it at considerable speed
– a feat much appreciated by our clients.
Without this hardworking team, we could
not have achieved what we have over the
2017 to 2018 period.
Skill and expertise, however, are not enough
on their own. A strong ethos of honesty,
fairness and transparency has to underpin
this enterprise, as it’s only by doing this that
we can both attain customers and retain
them too. In this competitive industry,
honesty and transparency are particularly
important, as our dealings depend greatly
on long-term partnership and collaboration.
Lessons to learn
What has been said above should not
be mistaken for an exercise in bragging.
Our success testifies to the necessity for
businesses to change, adapt and advance.
By surveying the market and understanding
what expertise we could bring to it, we
managed to find a method that both
expanded our business and helped out a
considerable segment of the workforce,
most of whom are important contributors
to society. Best practice is not always about
the skills you possess; it’s about skills you
learn and apply from multidisciplinary
knowledge. This commitment to innovation
has served us well in the past, and it will be
the guiding principle as we move forward.
MSR Group staff
We managed to
find a method
helped out a
segment of the
Rt Hon Kwasi Kwarteng's Foreword For The Parliamentary Review
This year’s Parliamentary Review reflects on a tumultuous and extraordinary year, globally and nationally. As well as being an MP, I am a keen student of history, and I am conscious that 2020 would mark the end of an era. It will be remembered as the year in which we concluded Brexit negotiations and finally left the European Union. Above all, it will be remembered as the year of Covid-19.
In our fight against the pandemic, I am delighted that our vaccination programme is beginning to turn the tide – and I pay tribute to the British businesses, scientists and all those who have helped us to achieve this. But the virus has dealt enormous damage, and we now have a duty to rebuild our economy.
We must ensure that businesses are protected. We have made more than £350 billion available to that end, with grants, business rates relief and our furlough scheme supporting more than 11 million people and jobs in every corner of the country, maintaining livelihoods while easing the pressure on employers. The next step is to work with business to build back better and greener, putting the net zero carbon challenge at the heart of our recovery. This is a complex undertaking, but one which I hope will be recognised as a once in a lifetime opportunity.
Through the prime minister’s ten point plan for a green industrial revolution, we can level up every region of the UK, supporting 250,000 green jobs while we accelerate our progress towards net zero carbon emissions.
With our commitment to raise R&D spending to 2.4% of GDP and the creation of the Advanced Research & Invention Agency, we are empowering our fantastic researchers to take on groundbreaking research, delivering funding with flexibility and speed. With this approach, innovators will be able to work with our traditional industrial heartlands to explore new technologies, and design and manufacture the products on which the future will be built – ready for export around the globe.
And I believe trade will flourish. We are a leading nation in the fight against climate change. As the host of COP26 this year, we have an incredible opportunity to market our low-carbon products and expertise. Our departure from the EU gives us the chance to be a champion of truly global free trade; we have already signed trade deals with more than 60 countries around the world.
As we turn the page and leave 2020 behind, I am excited about the new chapter which Britain is now writing for itself, and for the opportunities which lie ahead of us.