Let us provide you with more time to concentrate on running your business, and peace of mind that your accounts and returns are in order.

Whether your records are maintained using computer software such as Sage, on straightforward spreadsheets, or simply maintained manually, we will use these as a starting point for the preparation of your company, sole trade or partnership accounts.

We can also prepare management accounts, on a monthly or quarterly basis for example, in order to provide up to date information regarding the performance of the trade. Cash-flow projections are another useful tool in planning for the future, or to raise further finance for the business.

Starting your own business is one of the most fulfilling and exciting things you can do in life, but naturally it can also be risky and as a practice, we make it our business to know your business. Our dedicated and personable team can support you with all aspects of your business.

Business Planning and Advice

Your business plan should include: the business structure that best meets your needs (such as: sole trader, partnership, limited liability partnership or limited company); your intended funding sources; tax-efficient borrowing; whether a PAYE scheme is necessary; and whether the business should be VAT registered.

We can advise on these important decisions, and help you to make the appropriate registrations correctly. We can help with cash flow forecast, enabling you to spot potential cash shortfalls, and offer regular updates to enable you to monitor your business’s performance.

Strategic Planning

Tax and financial planning should not be left until the end of the tax or financial year, but undertaken before the end of your business year. Some of the issues to consider include:

• The impact that accelerating expenditure into the current financial year, or deferring it into the next, might have on your tax position and financial results.
• Making additional pension contributions or reviewing your pension arrangements.
• How you might take profits from your business at the smallest tax cost, and how the timing of payment of dividends and bonuses can reduce or defer tax.
• Improvements to your billing systems and record keeping system, or a general review of you current systems to improve profitability and cash flow.
• National Insurance efficiency and employee remuneration.

Long term plans for your business and your exit

At some point you will want to stop working in your business and either sell up and enjoy the rewards of your labour, or hand over the reins to your successors. It may not be top of your priority list right now, but exit planning is a vital part of your financial strategy and could make all the difference to your personal finances. Good planning will also help ensure a smooth transition for your business, once you are no longer involved.

Developing appropriate strategies at each stage of your business’s lifecycle is crucial if you wish to obtain the maximum rewards for your efforts. Important issues to consider include:

• Passing on your business to your children or other family members, or to a family trust.
• Selling your share in the business to your co-owners or partners.
• Selling your business to some or all of the workforce.
• Selling the business to a third party.
• Public flotation or sale to a public company.
• Winding up.
• Minimising you tax liability.
• What you will do when you no longer own the business.

Further Areas of Support

As a practice we can assist with any of the following areas:

• Raising business finance.
• Financial and Computer Systems.
• Cash flow forecasting and management.
• Efficient billing and cash collection.

The Companies Act places strict obligations on companies to submit the required documents according to deadlines. We can provide peace of mind, by taking the hard work off your hands. The services we provide include:-

• Preparation and filing of statutory returns.
• Preparation of minutes and resolutions.
• Company formations.

As a practice we ensure that all statutory documents are submitted on time, completed with 100% efficiency as not to incur any charges. We also fill in all the necessary documents when forming companies so that your new venture can be seamless from the beginning.

Let us relieve you of the time consuming process of administering payroll, allowing you to get on with what you do best – running your business.

Our comprehensive payroll service will alleviate you of this responsibility and ensure your business complies with the relevant legislation.

Clients of this service can expect to receive:

• Customised payslips
• Administration of PAYE, national insurance, statutory sick pay, statutory maternity pay, etc
• Completion of statutory forms, including year end returns, to issue to your employees and submit to HM Revenue and Customs
• Summaries and analyses of staff costs
• Administration of incentive schemes, bonuses, and ex-gratia and termination payments
• Administration of pension schemes

Many taxpayers struggle to understand the complex tax returns and complete them correctly. Furthermore, ongoing changes to tax legislation mean that taxpayers risk incurring more penalties through failing to complete their returns on time or correctly.

We aim to ease the stress often caused by self assessment and help you avoid costly mistakes, by offering a comprehensive self assessment service.

We can relieve you of the self assessment burden and save you time, worry, and money by handling this process for you. We will do all the necessary computations, complete your return, and even offer advice on how you can minimise your tax liability.

We can deal directly with HM Revenue and Customs on your behalf and, should you be selected for a self assessment enquiry, act for you at any meetings.