In a recent interview with Helen Brand*, Chief Executive of the ACCA (the Association of Chartered Certified Accountants), she explains that political and economic uncertainty is leaving small businesses more reliant than ever on their accountants.
Recent research from the International Federation of Accountants indicates that accountancy practices remain small businesses’ most trusted advisers. Adding to this, research by the Federation of Small Businesses (FSB) has found that half of small firms in the UK that have sought business support have approached their accountant for advice.
Late payments, uncertainty around regulations and laws, and the digitisation of tax remain some of the most frequent challenges facing small businesses, according to Ms Brand. She says that Making Tax Digital has the potential to considerably improve business efficiency and productivity, but the government must clarify how implementation will take place, and provide support for those businesses facing hefty transitional costs.
At Beavis Morgan, our SME business experts put processes in place which make it easier to run your business and to maintain effective management of your company’s working capital.
We assist with management accounts, enabling better control of your financial situation and awareness of the business in real time, enhancing planning for the peaks and troughs, and making sure you always know how your business is performing.
Our tax experts at Beavis Morgan are available to discuss ways to make your tax return easier by taking the hassle of dealing with HMRC away from you, so you don’t need to contact them directly.
For information about how we can assist you and your SME business by putting processes in place to benefit you now and plan ahead for the future, contact Alan Ford or your usual Beavis Morgan Partner.
* Interview: City AM (14 September 2017)
