Accounting Support Services

Accounting support services are the basic accounting functions that many business owners will look after themselves inhouse. However, outsourcing these functions to us can free up valuable management time to concentrate on what you do best –running and growing your business.

Our experience allows us to complete them far quicker than the average client. You can leave all the boring stuff to us and get on with what you enjoy most or just putting your feet up!

These are our core accounting support services…

Management Accounts and Information

All businesses can benefit from quality management information on which to make the right decisions, but only a minority of businesses can afford a dedicated finance function. We can prepare your Management Accounts on a monthly or quarterly basis in an efficient and cost effective way, in order to help you track how your business is performing, and identify strengths and weaknesses in good time.

Alternatively, we can also design and implement systems so that you can produce management accounts on an ongoing basis. If you are unfamiliar with accounting, we can also help you to understand and get the best out of management accounts.

Some businesses will require management accounts to be prepared on a monthly or quarterly basis for the purposes of providing information to your bank to support a borrowing facility. But it can also help you know what is going on in your business sooner than waiting for your year end accounts to help your business respond faster to changes happening within the business.

We can produce management information in various ways and styles, including identifying and measuring underlying drivers that run the business.

We can either prepare management accounts from the bookkeeping we do for you or by taking your books and making corrections and putting in the all important accruals and prepayments which are often only recognised by people with an accountancy background. In both cases we would discuss the figures with you so that you understand what they mean and how they come about. This more detailed approach allows us to understand your business better. Consequently, we can help you move your business forward.

We can structure the reporting to also advise you on the following factors:

Branch/Divisional results.

Actual performance compared to budget and/or comparative periods.

Costing information, including break-even turnover levels.

Bookkeeping

Many businesses do this work themselves but often it is more sensible to have us do it for you, allowing you to get on with the important job of running and growing the business.

It can also help you to reduce your year-end accountancy costs, make VAT inspections less of a worry and also deal with any tax enquiries by making sure your book-keeping properly reflects the business’ transactions.

When we do the bookkeeping we can provide you with proper management information to help you run the business.

It also allows us to complete your VAT returns for you very easily.

We can alternatively provide you with training to allow you to keep your books yourself in the way most suitable to your business.

Payroll and End of Year Returns

Everything seemed fine running your own business until the day you took on your first employee and became an unpaid tax collector. This is when you found out what red tape was all about.

Let us take the strain away from you and let you get on with running and growing the business. Payroll is complicated and has to be done on time and you as the employer are responsible for the mistakes.

We run payrolls on time and can provide…

  • employee payslips
  • monthly summaries
  • departmental reports
  • completion of P45’s for leavers
  • PAYE returns for the Revenue
  • arrange automated payment to your employees

Linked with this we can then produce at a reduced cost year-end PAYE returns including P35, P60’S & P11D’s. Alternatively we can produce the end of year returns from your own records and assist with correct completion of P11D’s for employees expenses and benefits.

You will never have to worry about calculating statutory sick pay or maternity pay and dealing with tax credits and student loan deductions ever again!

Beyond the payroll compliance service, we offer comprehensive advice on all employment tax issues, from planning tax efficient remuneration strategies to planning for retirement. Whether considering inducement payments or termination payments, the tax issues are often central to the decisions involved. When recruiting new employees a tax efficient remuneration structure can be important in a competitive market.

VAT Returns

Compliance with VAT is becoming ever more complex. The VAT man in recent years has increased the level of intensity of their investigations – all the more important that your VAT returns are completed correctly.

We complete VAT returns in good time to ensure you avoid any penalties. The returns can be completed from us doing the bookkeeping or we can take your books and complete the returns from there.

Alternatively, training can be provided in completion of VAT returns.

In addition we can assist with…

  • Applying for VAT registration
  • Advice on the VAT schemes suitable to your business
  • VAT planning
  • Dealing with any contentious disputes that arise with Customs
  • Attendance at VAT inspections
  • Representation at VAT tribunals

News / Blog

22nd
August

Government pledges regional initiatives to rebalance national economy

One of the principle drivers in the last Government’s economic policies was targeted regional initiatives. These initiatives were intended to…

14th
August

Rise in the national living wage is disproportionately affecting small businesses claims FSB

Is your small business struggling to cope with financial pressures? Is your SME being squeezed by commodity price inflation, rising…

7th
August

SMEs struggling to cope with higher business rates and levels of bad debts

How tough are small businesses findings things at the moment? Well, a new survey by Bibby Financial Services of 1,000…

31st
July

Bacs research shows late payments are costing SMEs over £2 billion a year

If you run a small business, you’ll probably already be painfully aware of the threat that late payments can pose…