The usual relationship between an SME and their accountants is outdated and not fit for purpose.
The old arrangement where the client only really engaged with their Accountant at year end for the Compliance work and then during the year were ‘afraid’ to contact them as it was an £85 bill the moment they answered the phone is gone for good.
Like it or not, there are many rules and regulations from Government, be it Companies House or HMRC, that have to be complied with. T4 Consulting can help you ensure that your company is always legal and compliant and this avoiding fines and potential problems.
We can never understand why companies get fined for the late submission of their accounts! From your year end date, you have nine months to get them finalised and submitted - how on earth is that not enough time? T4 will make sure that all your HMRC and Companies House requirements are met in an accurate and timely manner.
Corporation Tax calculation can be complicated and it’s very easy to be in breach of regulations which can lead to problems. We'll ensure that you pay the correct amount of Corporation Tax - not too much and not too little and once calculated, we'll submit your return to HMRC.
As soon as you become a Company Director, you have to start filling in Self-Assessment returns each year, even if your only income is the salary from your business. We can help Directors make sure that these are done correctly and on time.
If you keep your accounting records up to date on a day to day basis, VAT SHOULD be relatively straight forward. There are adjustments and accounting entries which may be needed, but nevertheless, there is no reason why the return cannot be submitted on time every quarter or month. We will keep track of your VAT position during the VAT period, check over the numbers on the return and submit it to HMRC for you.
WIth modern Cloud-based Accounting systems such as Xero (our recommended package) most small businesses do their own day to day accounting - raising invoices to customers and putting on invoices from suppliers, credit control and cash receipt allocation and supplier payments. But if you REALLY want to concentrate on what you do best, you can ‘sub-out’ your whole accounting function to us and we can take that admin pressure off you.
A powerful, modern, cloud-based Accounting & Business Management System is at the heart of any growing business. Xero is a fantastic solution which T4 recommends to all its clients. We can, of course, work with on other systems but we strongly recommend Xero and can help you set up your system and get the very best out of it.
With a modern accounting system like Xero, keeping up to date with invoices in and out, bank reconciliations and payroll are very straight forward. But if you want to get rid of all the administration, we can manage your complete back office for you.
Accurate, timely payroll production is required to keep staff happiness and to stay compliant with the increasingly burdensome HMRC regulations. We can take all the payroll pain away and free you up to run the business.
When he business starts, you know EVERYTHING that’s going on. You’ve got it all in your head and you don’t need reports to tell you what’s what.
But.. as the business grows, this can’t go on. It’s not a failing by you - it’s just not possible to keep that detailed track on every transaction and the result of it. That’s why at an early stage, setting up concise, meaningful reports which can be produced in an accurate and timely manner means the business can grow and grow and grow - but with you still with that ultimate thing - CONTROL!
From single-person startup companies to established operations, keeping on top of the financial performance and spotting problems early has never been more essential. We will produce full Management Accounts quarterly and review them with you in person or via a Zoom call.
The Profit & Loss Account is great for showing you how the business is doing overall. The Balance Sheet is great for showing the “State for the Nation” at a specific date.
But how did we get there? We’re not in control of the business unless we know answers to the following questions…..
Let us help you take control of your business!
“Oh we’re not big enough to need a budget!” ...
“Activity Planning? - We just deal with enquiries as the come in!” ...
So say many business owners as they grow and don’t realise the importance of growing in a planned and control manner, As soon as the business has been going for a year or so, it’s so important to take a step back and plan a strategy to grow.
Where are future sales going to come from? How are we going to increase our margins? What streams of business are we currently ignoring? Is our pricing policy right?
Even if you think you know your business and have in your head where you want to go, there is nothing like a well constructed and measurable Activity Plan so you can get a clear view of where you want to be in 1, 2 & 5 years, how you’re going to get there and try to anticipate the numerous ‘challenges’ that will be presented to you getting there.
How do we know if things are going right? How to do we know whether or not we’re getting these extra sales through genuine growth, or buying it with reduced margins? Can we survive on those slimmer margins in view of the inevitable extra costs that come with increased activity?
A solid budget to measure actual results against won’t change the profitability of the business, but will give you a full understanding of why things are better (or worse!) than expected and allow you to take action to do capitalise on it or put it right.
“I need to get advice from the Accoutant, but he’ll charge me just for answering the phone”
Yes, that’s the traditional way with Accountants and Solicitors - the clock starts ticking the moment they answer.
As your “Virtual FD” that’s what we’re here for! Ring and ask - no matter how small or silly the question seems to be. Telephone support and advice is part of the package so rather than struggle we can try and help you.
Get in touchWe can have the Registered Office for your company set to our Liverpool address. This has two benefits:
We can have the Registered Office for your company set to our Liverpool address. This has two benefits:
Call us:
0151 314 1518
Email us:
enquiries@t4consulting.uk