I haven’t had the time to post as much as I would like recently. I’ve been very busy taking on new clients and recruiting new staff which is great.
I’m in the fortunate position of not having to advertise to find new clients. I get a steady flow of referrals from happy customers and from my professional network who I keep in touch with on a regular basis.
I’m always amazed at the number of business who are getting very poor advice and support from their accountant, often at inflated prices.
The best advice, is often the most straight forward and easy to understand. This could be changing your vat scheme to a flat rate or cash accounting scheme which can for many businesses have a huge positive impact on their cash flow and reduce their administrative workload.
You could be a new start business using personal assets to start your business. Have you made sure that the computer, printer, phone, office furniture that you bought personally and use in your office have been transferred to your business at a fair price?
Not only will you get the cash paid back to you, tax free, but the business can also claim the cost as 100% tax deductible business expenditure in the first year of trading.
What about a sole trader with a £1million turnover profitable business, employing five staff. They should have been advised to change to a limited company years ago; they would have saved thousands of pounds in tax and reduced their personal liability.
Just remember, wherever you are, if you’re not happy with the service you’re getting from your accountant, there’s another one ready to provide you with the service you deserve.