Welcome to MGT Silver Throne

MGT Chartered Accountants are a commercially astute and client focussed firm with a close partner-access service aimed at entrepreneurial small/medium sized enterprises and foreign nationals establishing businesses in the UK.
Our clients come from many different backgrounds and nationalities. Our cloud based platform offers the most cost-effective accounting and tax solutions.
MGT Chartered Accountants also comprise a number of associate companies with technical skills and other business operations such as Debt Factoring, Incorporation, Franchise Options and other strategic alliances. Our forensic skills and attention to details ensure we are always fully compliant and deliver to a high standard. We're always with you supporting when you start up all the way through to delivery of year end accounts, handling all of your tax issues, keeping your staff paid and monitoring your annual performance.
We work across all sectors, advising small to medium size businesses on a wide range of issues related to achieving ambitious growth and realising value from the business.

''Quick Reference Guide''




We endeavour to apply commercial common sense in what we do. If you are thinking of how to go around this and see how others are thinking, our switching team is available for easy transition. Not to worry if you speak a different language, we have got all covered. Read more

Without an effective tax strategy, you could be paying more tax than you owe. Our helpful advice on how to keep liability on income tax to a minimum could save you thousands of pounds a year. Read more⇾

Whether it's a short term cash flow management or long term strategic planning, accurate forecasts are an essential tool throughout the business life cycle. Read more⇾

As a first step, ask your professional advisors for help estimating what you might owe. Then identify the tax planning strategies that best fit your personal circumstances Read more⇾

Running your business in the today's environment is challenging. There are more distractions and hence more time needs to be devoted than ever before Read more⇾






We are not just accountants, we are tech enabled financial, commercial and tax professionals who are committed to helping you save time and cost whilst improving efficiency and effectiveness.

Seeing is believing. Have a test drive and decide by yourself.Read more⇾



Take a deep Dive and Discover further

 
Creating lasting success for our clients, people, and communities.
 
Providing innovative, bespoke solutions to help clients thrive in an ever-changing world.
 
Helping clients to achieve lasting success locally and nationally

Service Charge Accounting

Managed Finance for Service Charge Accounting


Our Managed Finance Service is specifically designed around Service Charge Accounting. We can provide you with Outsource Accounting Services for your Property Management Business. We work with you to build a process where our specialist Accountants can work with you remotely to manage your Finance Department enabling you to focus on keeping the tenants happy. 

You might require help with adding tenants to your property software, or you might require credit control, final accounts, a capex prepared for sinking funds and much more; we are able to cater to your requirements, a few of the services we can help with are:

– Service Charge Accounts Preparation

– Management of Accounts Receivable and Payable

– Payment Runs to Suppliers

– Credit Control

– Management Accounts Preparation

– Preparation of Section 20b Notices

– Preparation of Service Charge Budgets

– Any Bespoke Solution


Service Charge Certification


We stay one step ahead of all regulations and industry guidelines. We aim to assist property management firms, chartered surveyors, and property owners to meet their service charge accounting obligations and obtain certification through a robust and effective certification process while keeping things flexible and ensuring that the client receives value for money.

Services provided by our specialist accountants include:

- External service charge certification

- Reviewing service charge accounts for compliance with S.21 LTA 1985 & RICS Management code

- Ensuring recoverable and non-recoverable expenses are correctly allocated within the terms of the lease

- Providing handover reconciliations on change of managing agents

- Yearend adjustments and journal postings

- Attending AGMs and meetings with landlords and managing agents

- Annual Compliance Reports for RICS and ARMA for managing agents

- Preparation of statutory accounts for resident management companies


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Email:info@silverthrone.co.uk | Tel: 0800 689 1495
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Tax accounting

Our tax accounting professionals can provide the support you need to help manage the complex requirements of today’s tax landscape. 

In today’s increasingly complex business and tax environment, there are more demands for transparency.

Tax departments are also under immense pressure to be more effective due to the increased governmental expenditure on public services.


To help you respond to these demands, we provide assistance and advice in several priority areas

-Tax accounting: supporting quarterly and annual tax provision calculations, validating tax balance sheet accounts and implementing new accounting standards under IFRS and local GAAP

-Tax function performance analysis: helping to improve operating strategy and organizational design, tax process and controls, and data and systems effectiveness

Tax risk identification: identifying and prioritizing key risks and assisting with controls monitoring and remediation

Our professionals are well equipped to provide the quality of service you deserve so as to address your unique needs in a timely manner, throughout the entire tax life cycle of planning, provision, compliance and working with tax authorities.

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Privacy policy

 

Last Updated 10 January 2023

Introduction

MGT Chartered Accountants respect the privacy of its customers, suppliers and partners. We have therefore formulated and implemented a policy on complete transparency regarding the processing of personal data, its purpose(s) and the possibilities to exercise your legal rights in the best possible way. For employees, we have formulated a separate privacy policy, available upon employment and upon request.

Definitions

  • Party responsible for processing personal data: MGT Chartered Accountants; with registered address at 23, Sangley Road London in United Kingdom and company registration number ZA190432 (the “Controller”).
  • Data Protection Authority: The Data Protection Authority of United Kingdom.
  • Data Protection laws:
    • For European citizens or residents, the EU GDPR 2018; the EU e-privacy directive 2002 (soon to be replaced by the EU e-privacy regulation);
    • For UK citizens or residents, the UK GDPR 2020 and the UK Data Protection Act 2018
    • and/or the national laws of United Kingdom.

Collection of data

  • Your personal data will be collected by MGT Chartered Accountants and its data processors.
  • Personal data means any information relating to an identified or identifiable natural person (‘data subject’).
  • An identifiable natural person is one who can be identified, directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that natural person.

The types of personal data we may process:

Business processTypeData subjectLegal basis
WebsiteIdentification, LocationCustomers, Employees, Suppliers, PartnersConsent
EmailIdentification, Financial, Date of Birth, Copy of ID, Location, Social Security Number, ContractsCustomers, Employees, Suppliers, PartnersLegitimate interest
Storage and exchange of documentsNot applicableNot applicableLegitimate interest
Delivery of goods and servicesIdentification, Financial, LocationCustomersPerformance of a contract
Financial and business administrationIdentification, Financial, Date of Birth, Educational and employment history, Copy of ID, Health, Location, Social Security Number, ContractsCustomers, Employees, Suppliers, PartnersLegitimate interest
MarketingIdentification, Financial, LocationCustomers, Suppliers, PartnersConsent

Purposes

MGT Chartered Accountants process personal data for one or more of the following purposes:

  • Customer, employee, contractor, partner or supplier management
  • Business and financial administration
  • Direct marketing
  • Delivery of goods or services
  • Work planning

How we collect, store or otherwise process your data:

The following business processes describe how we may collect, store or otherwise process the types of personal information set out in the table above:

  • Collection of cookies, subscription to newsletter or filling out the contact form on the website(s);
  • Analyse trends and profiles, for our legitimate interest to aim to enhance, modify, personalise and improve our services and communications for the benefit of our customers;
  • Process and respond to support requests, enquiries and complaints received from you through use of business email;
  • Provide services and products requested and/or purchased by you and to communicate with you about such services and/or products. We do this as necessary in order to carry out a contract with you and in accordance with our legitimate interest to operate a business;
  • Carry out administrative activities such as invoicing and collecting payments either locally on devices or using cloud-services;
  • Store and exchange personal information contained in documents through email and cloud-services;
  • Marketing and customer acquisition through email or using cloud-services.

Sharing data with third parties

We may have to share your data with third parties, including third-party service providers. We require third parties to respect the security of your data and to treat it in accordance with the law.

We may transfer your Personal Data outside United Kingdom. If we do, you can expect a similar degree of protection in respect of your Personal Data.

We will only share your Personal Data with third parties in accordance with the GDPR and as outlined in the legal justification table above.

We share your personal data with the following enterprise third parties. We also share your data with SME third parties, details of which are available upon request. You will be notified when we have engaged with a new third party recipient of your personal data.

AWS

FunctionApplication hosting
Business processDelivery of goods or services, Software tools and applications
Data categoriesIdentification, Financial, Location, Software tools and applications, Business data
Data subjectsCustomers
Security measuresPhysical security such as access controls, clean desk policy and CCTV; Access controls and prevention of unauthorised access on the basis of roles and strong authentication methods; All data is encrypted at rest and access is only permitted via encrypted channels (e.g. SSL); Data is minimized and regularly deleted according to national retention periods.

Microsoft Office 365

FunctionEmail provider, Document storage service, Office software
Business processEmail, Storage of paper documents, Digital storage of documents, Administration, Software tools and applications
Data categoriesIdentification, Date of Birth, Location, Social Security Number, Contracts, Business data
Data subjectsCustomers, Employees, Suppliers, Partners
Security measuresPhysical security such as access controls, clean desk policy and CCTV; Access controls and prevention of unauthorised access on the basis of roles and strong authentication methods; All data is encrypted at rest and access is only permitted via encrypted channels (e.g. SSL); Data is minimized and regularly deleted according to national retention periods.

Stripe

FunctionPayment processing software
Business processDelivery of goods or services, Software tools and applications
Data categoriesIdentification, Financial, Location
Data subjectsCustomers
Security measuresPhysical security such as access controls, clean desk policy and CCTV; Access controls and prevention of unauthorised access on the basis of roles and strong authentication methods; All data is encrypted at rest and access is only permitted via encrypted channels (e.g. SSL); Data is minimized and regularly deleted according to national retention periods.

Xero

FunctionBookkeeping software
Business processAdministration, Software tools and applications
Data categoriesIdentification, Date of Birth, Location, Social Security Number, Business data, Technical data
Data subjectsCustomers, Employees, Suppliers
Security measuresPhysical security such as access controls, clean desk policy and CCTV; Access controls and prevention of unauthorised access on the basis of roles and strong authentication methods; All data is encrypted at rest and access is only permitted via encrypted channels (e.g. SSL); Data is minimized and regularly deleted according to national retention periods.

Canva

FunctionMarketing tool
Business processProduction of content
Data categoriesIdentification, Software tools and applications
Data subjectsCustomers, Employees, Suppliers, Partners
Security measures


Dext

FunctionOther software suite
Business processDigital storage of documents, Administration, Software tools and applications
Data categoriesIdentification, Financial, Location, Contracts, Software tools and applications, Business data
Data subjectsSuppliers
Security measuresN/A


Hubspot

FunctionWebsite hosting, Document storage service, CRM, Marketing tool, Task management or work planning, Appointment scheduling tool
Business processWebsite, Digital storage of documents, Delivery of goods or services, Administration, Marketing, Software tools and applications
Data categoriesIdentification, Financial, Location, Contracts, Software tools and applications, Business data, Technical data
Data subjectsCustomers, Suppliers, Partners
Security measuresPhysical security such as access controls, clean desk policy and CCTV; Access controls and prevention of unauthorised access on the basis of roles and strong authentication methods; All data is encrypted at rest and access is only permitted via encrypted channels (e.g. SSL); Data is minimized and regularly deleted according to national retention periods.

Intercom

FunctionCustomer service software, Marketing tool
Business processMarketing, Software tools and applications
Data categoriesIdentification, Location, Software tools and applications, Business data, Technical data
Data subjectsCustomers
Security measuresPhysical security such as access controls, clean desk policy and CCTV; Access controls and prevention of unauthorised access on the basis of roles and strong authentication methods; All data is encrypted at rest and access is only permitted via encrypted channels (e.g. SSL); Data is minimized and regularly deleted according to national retention periods.

Slack

FunctionOther software suite
Business processAdministration, Software tools and applications
Data categoriesIdentification, Location, Software tools and applications, Business data, Technical data
Data subjectsCustomers, Employees, Suppliers, Partners
Security measuresPhysical security such as access controls, clean desk policy and CCTV; Access controls and prevention of unauthorised access on the basis of roles and strong authentication methods; All data is encrypted at rest and access is only permitted via encrypted channels (e.g. SSL); Data is minimized and regularly deleted according to national retention periods.

International data transfers

The third parties we have engaged for the abovementioned business process may transfer your personal information to outside of United Kingdom. Clarity Operations Ltd’s third party processors take all necessary measures to ensure the confidentiality, availability and integrity of personal data and to comply with the GDPR with regards to international data transfers. The international nature of its compliance certifications, as well as far-reaching technical security measures (including but not limited to encryption of the personal data, making the data illegible to an unauthorised recipient) are sufficient to ensure that the data subjects continue to benefit from the fundamental rights they are entitled to under the GDPR.

MGT Chartered Accountants relies on processing agreements with these sub-processors that include the model clauses (or “Standard Contractual Clauses”) which have been tested on the adequacy of its protection with regards to the specific sub-processing activities carried out in this particular sub-processing relationship.

Additional security measures are taken to safeguard the international data transfers:

  • Encryption;
  • Anonymisation;
  • Pseudonymisation.

Storage and protection of data

Your data is protected by MGT Chartered Accountants and its processors in pursuance to all legal requirements set by the relevant data processing laws. The firm has taken technical and organizational security measures to protect your data and requires its data processors to meet the same requirements. The firm has signed processing agreements with its processors to ensure an adequate level of data protection.

The following security measures are taken by MGT Chartered Accountants to protect your personal data in the course of the listed business processes:

Organisational security measures

Staff

MGT Chartered Accountants staff members are required to conduct themselves in a manner consistent with MGT Chartered Accountants' guidelines regarding confidentiality, business ethics, appropriate usage, and professional standards.All staff members undergo appropriate background checks prior to hiring and sign a confidentiality agreement outlining their responsibility in protecting customer data.

We continuously train staff members on best security practices, including how to identify social hacks, phishing scams, and hackers.

Access controls

MGT Chartered Accountants maintain your data privacy by allowing only authorized individuals access to information when it is critical to complete tasks for you. The staff members will not process customer data without authorization.

Data hosting

As a rule, data is hosted within United Kingdom, but it is possible that we might transfer personal data to countries within the EEA, to the UK or in exceptional circumstances outside of those areas. We ensure that we comply with the GDPR and the DPA when sending data overseas by relying on data processing agreements containing standard contractual clauses with our sub-processors or by taking additional measures to secure this data transfer, such as anonymisation.

Physical security 

The data centres on which personal data is hosted are secured and monitored 24/7 and physical access to facilities is strictly limited to select staff.

Technical security measures

All devices which are used to access personal data for which we are responsible are secured with antivirus software, firewalls, encryption and access management. We regularly update operating systems and software to ensure vulnerabilities cannot be exploited.

We carry out regular vulnerability scanning of our website and have engaged credentialed external auditors to verify the adequacy of our security and privacy measures.

Your rights regarding information

Each data subject has the right to information on and access to, and rectification, erasure and restriction of processing of their personal data, as well as the right to object to the processing and the right to data portability.

You can exercise these rights by contacting us at the following email address: info@mgtaccountancy.co.uk. Each request must be accompanied by a copy of a valid ID, on which you put your signature and state the address where we can contact you. Ensure that you write “Data Request” in the subject line of your email.

Within one month of the submitted request, you will receive an answer from us. We will not charge you for submitting your request unless the request is manifestly unfounded or otherwise unreasonable in its nature. Depending on the complexity and the number of the requests this period may be extended to two months.

Marketing

  • You may receive commercial offers from MGT Chartered Accountants. If you do not wish to receive them (anymore), please send us an email to the following address: info@mgtaccountancy.co.uk and ensure that you write “Data Opt-Out” in the subject line of your email.
  • Your personal data will not be used by our partners for commercial purposes.
  • If you encounter any personal data from other data subjects while visiting our website, you are to refrain from collection, any unauthorized use or any other act that constitutes an infringement of the privacy of the data subject(s) in question. The collector is not responsible in these circumstances.

Data retention

The collected data are used and retained for the duration determined by law. You may, at any time, request your data to be deleted from any MGT Chartered Accountant's account, system or other data processing medium in accordance with the process described above.

Applicable law

These conditions are governed by United Kingdom legislation. The court in the district where the collector has its place of business has the sole jurisdiction if any dispute regarding these conditions may arise, save when a legal exception applies.

Business Intelligence Support

In business, there is no crystal ball.

But why not try the next best thing?

Whether for short term cash management or long term strategic decisions, accurate forecasts are essential throughout the life of a business, allowing you to plan for the future and giving confidence to finance providers or other third parties.

Anticipating possible outcomes with bespoke forecasting:

  Scenario Planning


Within our cash flow forecasts, we can include the ability to run scenarios to help you understand the impact of decisions on your business. Our scenarios can be used to run several simulations, identifying the most sensitive variables to focus your efforts on.

We can model potential outcomes from a strategic decision – such as opening a new branch - or environmental factors – such as a change in legislation.

Contact us for a needs assessment

 Financial Forecasts


In difficult times the future is far more important than the past. We can help you to review existing financial forecasts or prepare new ones, whether you need a long-term turnaround initiative or have a short-term funding requirement.

We use our expertise to quickly assess your financial position and performance, analysing any underlying assumptions to robustly quantify your funding requirements, as well as identify key risks. We then devise achievable strategies to mitigate your funding needs and improve cash flow.

Our involvement ensures that you and your business, as well as lenders and other stakeholders, can rely on the financial forecasts, enabling everyone to make more informed decisions in complex and often changing circumstances. Contact us for an initial assessment

 Raising Finance


Cashflow forecasting is often undertaken as part of the process to obtain financing for a project or growth of your business, both as a requirement of the finance provider and for your own planning purposes.

We work with businesses and lenders to identify the most appropriate lending structures, ensuring that the right funding is put in place to meet the organisational strategy and risk appetite.

We have access to an extensive network of funding sources – including banks, asset-based lenders, private equity and other options – who can react quickly and are willing to invest in business turnaround and situations of financial distress. We leverage that knowledge and our network to ensure your business has access to the widest possible range of suitable funding sources. We can then liaise with potential funders and stakeholders to reduce the burden on your management.

 Actuals comparison


Upon completion of your forecast, your next step may be to understand how your business is performing in relation to your forecast figures.

We offer the option to integrate actual figures from your accounting system into your forecast, so you can compare actual performance on a line by line basis and quickly identify shortfalls in performance.

Please don’t hesitate to get in touch with us to discuss your forecasting needs. We offer a free no-obligation initial meeting and are always willing to demo examples.

Restructuring Services

Restructuring Services

The process of supporting clients

We will examine the issues and provide you with clear, sensible, and actionable advice. We will then work with you to explore your options and put sustainable plans in place.

We thoroughly review various aspects of your business, including management information, financial accounts and forecasts, discussing your challenges and how this has impacted cash.

It is important for us to understand which product or service line might be underperforming. From here, we can work with you to restructure the business ultimately fulfilling the shareholders priorities

Our turnaround services include the following:

 Informal Arrangements


When a Company is experiencing short term difficulties we can assist by helping you reach an informal agreement with creditors to postpone or re-structure debts and give you time to recover. This may involve negotiation with a single creditor or a group of creditors to reach an informal agreement to repay debt(s) over a period of time.

We can help you prepare and review formal written proposals and our involvement adds credibility, improving the likelihood of acceptance by creditors.

Contact us for a needs assessment or see our full list of insolvency and recovery services

 Financial Forecasts


In difficult times the future is far more important than the past. We can help you to review existing financial forecasts or prepare new ones, whether you need a long-term turnaround initiative or have a short-term funding requirement.

We use our expertise to quickly assess your financial position and performance, analysing any underlying assumptions to robustly quantify your funding requirements, as well as identify key risks. We then devise achievable strategies to mitigate your funding needs and improve cash flow.

Our involvement ensures that you and your business, as well as lenders and other stakeholders, can rely on the financial forecasts, enabling everyone to make more informed decisions in complex and often changing circumstances. Contact us for an initial assessment

 Debt Restructuring


Securing the right funding to give your business the best chance of survival and success is crucial. We can project manage a refinancing or fundraising process from start to finish, including post-transaction support and monitoring.

We work with businesses and lenders to identify the most appropriate lending structures, ensuring that the right funding is put in place to meet the organisational strategy and risk appetite.

We have access to an extensive network of funding sources – including banks, asset-based lenders, private equity and other options – who can react quickly and are willing to invest in business turnaround and situations of financial distress. We leverage that knowledge and our network to ensure your business has access to the widest possible range of suitable funding sources. We can then liaise with potential funders and stakeholders to reduce the burden on your management.

 HMRC Arrears Solutions


When you need to be focused on your business the added burden of dealing with HMRC arrears can be a significant pressure. We can help you to reschedule your tax arrears by talking to HMRC on your behalf, and proposing sustainable, commercially acceptable Time to Pay (TTP) proposals, often as part of a wider turnaround. As well as reviewing forecasts (including an independent assessment of your business viability) and ensuring that your management strategy is both achievable and fit for purpose,

we can prepare and review formal written proposals within HMRC deadlines, negotiate and liaise directly with HMRC (under form 64-8,communicate and liaise with lenders and other stakeholders.

Our involvement adds credibility to proposals, improves the likelihood that they will be accepted, and reduces the risk of future TTPs being required.