Summer holidays can put a lot of pressure on your SME finances. Not everyone goes on a summer break at the same time, but sometimes it feels like they do....
How far do you think you must go to find an accountant to fully support your Lancashire business? At Direct Business & Accounting, we believe in serving the local business community.
If you’re looking for an accountant in Burnley, Accrington, or Clitheroe it’s going to make all the difference to work with someone with local knowledge, who understands how you want your business to fit in to what is already around you.
We also understand that having someone to communicate with is an essential part of being a trusted local accountant, whether this is in Rossendale, Bury, Blackburn or elsewhere in Lancashire. Being available and accessible are crucial qualities, and they are what makes us more than just a service provider. We’re close enough for you to just pop in for a cuppa and a chat about your finances!
We’ll work with you, meeting and talking with you face-to-face whenever necessary, to give you the local accounting support you need.
Here are some of the business benefits of using a local accountant.
Getting Your Records Together
Paperwork can be a headache, especially if you’re a
relatively new business and keeping records and receipts is not something you are used to doing.
If you forget to record your transactions, or don’t do so diligently, you can miss out on valuable tax deductions on your expenses. You can also end up having to pay fines and penalties if you fail to accurately state your income.
HMRC requires that you keep your records and receipts for six years, so it’s important to get organised. We can help you with your record-keeping and paperwork, providing practical advice and support.
Are you getting paid? You want to be sure you get paid by your customers or clients, and keeping good records goes a long way to helping make sure this happens.
You should have a system in place so that you’re aware of who’s paid, who hasn’t, and how to chase payments. You might even want to charge for some services up front. Without cash how will you run your business? Getting paid must be a priority, because more businesses fail because of cash-flow problems, rather than not making a profit.
You can talk to us about keeping records and receipts, getting them out of the shoebox and into a proper accounting system.
Meeting Your Deadlines
The two key deadlines for most businesses are filling in your tax return and paying your tax bill.
Also, if your turnover is more than £85,000 you will have to complete a VAT return every three months. We can help you set this up so you don’t get caught out by missing your deadlines.
If your business is a limited company you will have to file your annual accounts with HMRC and Companies House. You may also need to file monthly payroll RTI returns.
Basically, there’s a lot for you to do, and missing deadlines can mean a swift build-up of penalties. HMRC’s forms are not the easiest thing in the world to understand, which makes them time-consuming and so adds to the pressure of getting your paperwork in on time.
We can’t make deadlines and forms go away, but we can make a significant difference to how you cope with them.
Developing Your Business
We believe accounting services should be more than a shoulder to cry on or something you only use periodically when your return is due.
Along with a personalised and convenient local service, we help businesses grow and thrive.
This is about looking forward and projecting ahead, not just ensuring you’re compliant and that your paperwork and records are up to date.
We want you to see us as a vital partner in how you develop your business and plan for growth. You might be stretching out, looking further afield to expand your customer-base. At the same time, you can benefit from solid, local knowledge, and an accountant who knows the terrain.
The other thing is that accountants are busy networkers.
We can’t help it, because we’re in touch with such a diverse range of local businesses. So, when it comes to useful contacts for your business development, check with us first. Don’t underestimate the value of local connections.
Choosing Your Local Accountant
HMRC conducted some research a couple of years ago, examining what helped smaller businesses choose an accountant.
The majority of businesses want an accountant to focus on submitting returns and providing help with complex tax matters. Nearly half of them have had the same accountant for more than 10 years.
In HMRC’s research, even sole traders and smaller businesses recognise how an accountant can provide assurance and peace of mind, while saving them time in dealing with accounting issues.
Accounting services are about building partnerships and trust. We want our clients to have a positive relationship with us, and we can develop this on a close, local basis.
We know that many people will choose their accountant based on recommendations rather than selection online, so we work hard to support the local business community because we want people to know what we can offer.
What Should You Expect?
If you’re looking for an accountant in Lancashire, or an accountant in Burnley, for example, you want to know that you can easily reach them. There shouldn’t be any sense of a limit on communications.
We can work as closely with you as you need us to. Also, we’re happy to have regular meetings with you in person, because we know how important this personal aspect of business is.
Accounting should be proactive, so we won’t wait for you to alert us to issues affecting you. Instead, we’ll regularly update you on any changes in legislation or otherwise that are likely to have an impact on your business.
Whatever your accounting issues, we’ll address them, and we’ll help you to grow your business, ensuring you’re getting the money you earn, making the correct payments on time, and planning properly for the future.
Get in Touch
For professional, fully supportive accounting services in Rossendale, Burnley and Lancashire please contact us. We’re always ready to talk. Give us a call on 01282 902456, email firstname.lastname@example.org or visit the contact page on our website and fill in the contact form – we’ll reply as soon as we can.