Versatile Insurance

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Challenge

Versatile Insurance Professionals was established in 2005 when current managing director Ray Colenutt seized the opportunity to purchase a portion of his previous employer’s business to set up another, non-competing, insurance provider. Today, he employs 26 people and has clients from all over the country.
As well as being one of the only UK providers to offer products that aren’t typically found on com-parison sites such as insurance for travel to dangerous areas, drone cameras and tattoo removal, Versatile also offers a comprehensive range of more everyday policies, covering areas such as prop-erty, public liability and professional indemnity for industries as diverse as construction, agriculture, media and catering.
Ray came to Simpkins Edwards following a personal recommendation. He wanted a local accountant to help the business grow and was seeking a specialist with broad expertise that could swiftly under-stand his business, identify how to improve performance and implement better tax planning and more efficient profit extraction.

Solution

Partner Adrian Hemmings and his team spent time getting to know Versatile as a business, looking at the efficiency with which the business operated and solutions that could be adopted to both stream-line Versatile’s accounts and make their affairs more tax efficient.

Working with Versatile’s senior management team, Simpkins Edwards adopted a series of measures to not only help make the business more profitable, but bring it into line with the personal aims of its owners.

Among the range of services provided to Versatile, Simpkins Edwards provides general business ad-vice, accounts preparation, tax compliance, tax planning and guidance on profit extraction.

“Adrian is great at having his finger on the pulse and keeping me up to date with the things I need to be aware of, whether it’s the latest tax changes or a minor payroll issue. With his help, I always feel completely reassured that we’re on top of things.”
Ray Colenutt, Managing Director, Versatile Insurance Professionals