Loss of Profit
Our team of forensic accountants provide detailed assessments to quantify loss of profit elements for self-employed Claimants as part of a personal injury or clinical negligence case.
We are regularly instructed in both Claimant and Defendant scenarios on either an Expert or Agency / White Label basis in a wide range of personal injury and clinical negligence matters.
Loss of Profit Reports - call 0113 387 5670
We undertake work on both a Single or Joint basis and once instructed on a matter we will give detailed consideration to:
- Pre / post accident trading patterns
- Growth patterns
- Details of lost sales / contracts
- Impact on future income streams and expense patterns post-accident
- Loss of Opportunity
Whether instructed on an Expert or Agency basis we will provide independent, detailed and robust loss of profit reports to assisting in quantifying an accurate calculation of financial loss to the self-employed Claimant.
In such we such cases we are happy to assist in collating relevant information to support the Claimant's losses, such as liaising with their business accountant if required.
Forensic Accounting Services - Loss of Profit Claims
Our approach is commercial, pragmatic and thorough and we are experienced in dealing with large volumes of cases whether they be relatively low value or high value and complex. Our experience over many years consists of preparing loss of profit reports in a wide range of scenarios across many areas of trade.
We provide flexible solutions to meet your requirements and are happy to have an initial chat about a potential case. Please also ask about our fee terms.
To hear more about how Forths can assist you in the Loss of Profit elements in personal injury and clinical negligence cases, call us on 0113 387 5670
Alternatively you can send an email to enquiries@forthsonline.co.uk or fill out an Enquiry Form and a member of our team will contact you at the earliest possible convenience.
Recent tax changes announced by Chancellor Jeremy Hunt may mean that any future loss calculations may require review. If you have an ongoing case that we have assisted with, we would be happy to discuss this with you. Likewise, for any potential new instructions we are always happy to have an initial chat. National Insurance Cuts On 6th January 2024 cuts to National Insurance rates will come into effect for employed Claimants: The main NI rate is being cut from 12% to 10%. From April 2024 for self employed Claimants: Class 4 NI rate will reduce from 9% to 8%, and; Class 2 NI contributions will be scrapped. The changes will affect future Loss of Earnings calculations. State Pension Changes There will also be a rise in State Pension of 8.5% from April 2024. Losses to State Pension are considered on a case by case basis. How We Can Assist Our experienced team assist with Loss of Earnings, Pension Loss and Loss of Dependency elements in all types of PI, Clinical Negligence and Fatal cases. Our approach is to ensure that your client’s Special Damages are optimised. We offer flexible solutions and reporting styles depending on the case requirements, and can assist you in the information discovery process. We are also happy to liaise directly with clients to assist in the progress of the case. For more information about our hourly rates for Expert CPR or White Label / Agency Services, and deferred payment terms, talk to our team. Contact us here Call us on 0113 387 5670 Email - enquiries@forthsonline.co.uk
In the 2023 budget, Chancellor Jeremy Hunt announced fundamental changes to the Annual Allowance and Life Time Allowance charges for pensions savers. What are The Allowances? The Annual Allowance is the amount that an individual can pay into their pension scheme (both their own and their employer contributions) each year before paying Tax on the contributions made. The Life Time Allowance is the total amount an individual’s pension fund can be before they pay additional Taxes on their pension benefits. What Has Changed? The Annual Allowance has increased from £40,000 per annum to £60,000 per annum. The Lifetime Allowance, which was £1,073,100, has been abolished. What Does This Mean for Your Client? If you have a high earning client (often in the public sector where employer contributions are more generous), then your current calculation of lost pension benefits may include deductions for tax under both the Annual and Lifetime Allowance schemes and so may now be materially understated. How Can We Help? Our team have vast experience in assessing pension loss claims for all types of occupations and are fully au fait with the changes to the Tax rules from April. We would be happy to carry out a review of your pension loss calculations either on a stand alone basis or in conjunction with other relevant heads of claim.
Contact us today to find out how we can assist you...
To hear more about our Forensic Accounting Services or to discuss a potential case with a member of our team, call us on 0113 387 5670.
Alternatively, you can email us at
enquiries@forthsonline.co.uk or fill out an
Enquiry Form
and we will contact you directly.