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Accountants for SMEs

Not just your accountants but your team members.

Many years ago, our founding partners decided to leave their respected Top 10 accountancy practices in order to run their own practice. The ethos of the new firm was to offer owner managed businesses a more personal and tailored approach to the financial and accountancy requirements. They felt that it was important to be able to sit with clients, look them in the eye and really understand their short, medium and long term visions and goals.

A lot of time and effort was spent building up a market leading taxation department which, to this day, remains something that separates us from our competition. Coupled with this, the firm believes that supporting clients’ commercial decision making processes and offering sensible, practical business advice is one of our key responsibilities.

The firm has been built up to being a larger independent in our region through investment into technology and quality staffing, meaning that the accounts production process has been streamlined. This means that our clients benefit from not only a reduction in costs but also time spent with Partners and Managers can be spent not talking about ‘what figure goes where’ but discussing strategy, growth and further future success.

There are clear advantages that come with running a family business, but there are also many personal and organisational challenges along the way which can be particularly difficult in ensuring that family companies survive through the generations.

In the UK, over 75% of businesses are family companies so a large percentage of our clients are affected. We therefore have a great deal of experience in dealing with problems that may arise and more importantly preventing problems before they occur.

Enquire now

To talk through your business requirements, or to simply get in touch, please enter your details below.

Our financial and business services include:

  • Help managing your key cost centres and promote increasing margins
  • Help developing dynamic , adaptable and successful business models to support your aims
  • Expert tax cost management to help you secure all available tax advantages
  • Ensure your organisation remains entirely compliant with the financial, regulatory and statutory requirements
  • Bookkeeping support and training
  • Employer year end support
  • Management accounts, forecasting and budgeting
  • Strategic analysis and reporting
  • And even international support should your business need it
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Insight

Changes For Household Finances in April 2021

There are a number of changes that may affect your household finances taking effect in April 2021 including tax rates, increases to household outgoings and changes to COVID related loan repayments agreements. This article covers some of the pending changes.

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Effective Exit Planning

Whether you are considering retirement, looking for the next challenge, or for any number of other reasons, the decision to sell your business is one of the most important you’ll make. Maximising the return on your hard work and securing your legacy takes careful planning, and whatever stage of its lifecycle your business ownership is currently at, a focus on your exit plans will add value.

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Is now the right time to consider a Virtual CIO / IT Director?

The CIO or IT Director is usually the most senior IT member of a business responsible for the management, implementation, and usability of information and computer technologies.  In recent times this role has evolved not only to be responsible for the current state IT systems but also to define and lead the IT strategy of a business. 

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Research & Development tax credits

For accounting periods beginning on or after 1 April 2021, the payable R&D Tax Credit for SMEs will be restricted

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Salary sacrifice / optional remuneration package benefits in kind tax changes from 6 April 2021

The Optional Remuneration Arrangements (OpRA) rules were introduced on 6 April 2017 and changed the tax position for employees receiving most benefits via a salary sacrifice arrangement, or instances where there is an option between the employee receiving either a cash or benefit as part of their package.

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Restart Grant Scheme

In the Chancellor’s recent Budget statement, he announced the pending launch of the Restart Grant Scheme. The is effectively a £5bn grant kitty aimed at retail, hospitality and leisure sector businesses to tackle the fallout of the COVID pandemic and support them until the planned reopening.

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Budget 2021

The Chancellor put forward his Budget today (3rd March) in what was one of the most anticipated statements of its type in recent years.

There were rumours of tax hikes being introduced in the short term but it seems these will be phased in, the first of these being an increase to Corporation Tax in 2023

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Grants to help small and medium-sized businesses new to importing or exporting

The SME Brexit Support Fund will soon open for applications. This fund will give businesses up to £2,000 to support training or professional advice on the following areas:

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CIS Construction Industry VAT Reverse Charge

The CIS VAT domestic reverse charge measure will apply to supplies of construction work from 1 March 2021. The measure was due to commence in October 2019 and has been delayed twice due to Brexit and the Coronavirus.

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Brexit VAT Notes

As of 1st January 2021, the transitional arrangements for the supply of goods and services between the UK and the EU has ceased. Agreement has been reached on a post-transition trade agreement, but this does not prevent the UK from leaving the EU VAT regime. As a consequence, there are a number of ways in which the treatment of VAT on transactions with the EU have changed.

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Is The CGT Clock Ticking?

With the 2021/22 tax year budget having been delayed to March 2021, business owners, investors and landlords have a narrow opportunity to plan in anticipation of potentially material tax hikes.

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Furlough Extends To March & 3rd Self Employed Grant

The Chancellor announced further extensions to the CJRS and a 3rd SEISS today (5 November 2020).

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Chancellor Update Support Schemes

The government’s Job Support Scheme (JSS) will be expanded to protect jobs and support businesses required to close their doors as a result of coronavirus restrictions, the Chancellor announced today, 9 October.

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Govt Winter Economy Plan

The Chancellor Rishi Sunak today outlined additional government support to provide certainty to businesses and workers impacted by coronavirus across the UK.

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Self-Employment Income Support Scheme (Second Grant Window)

Applications for the second and final Self-Employment Income Support Scheme grant are now open. If you’re eligible and your business has been adversely affected on or after 14 July 2020, you must make your claim for the second grant on or before 19 October 2020.

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Coronavirus Job Retention Scheme October Changes

The Coronavirus Job Retention Scheme also known as the furlough scheme will be changing from 1 October 2020. We have compiled a review of the core elements.

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Ballards LLP Podcast – Claiming Expenses For GP’s & Consultants

Listen to our recent podcast which we hope you find useful and interesting. This episode explores whether you can claim and how to claim for areas including motor expenses, subscriptions, home internet, mobile phones and much more.

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Tax information on staff working from home

A common query we are receiving recently is surrounding staff working from home due to the current situation. We have therefore set out the general position for both the employer and employee.

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