Regulatory and compliance issues a concern for small business

40 per cent of small businesses say that are struggling with regulatory and compliance issues, with some saying they are spending up to five hours a week on getting to grips with the recent national and local changes in government regulations. The research, undertaken in July, found that a third of small business owners are finding the national tax regulations confusing, with many feeling overwhelmed by the changes in the Affordable Care Act, the minimum wage and the overtime regulations, all of which are contributing to an increasingly complex business environment.

At Beavis Morgan our corporate compliance team is headed by both fully qualified chartered accountants and a chartered secretary, so we are able to guide you through the new regulations and set up the reporting structures to ensure that your company complies. We even offer clients the opportunity to outsource their entire finance department. This cost effective bespoke service includes:

Managing the day to day operations – we take care of your invoicing, banking, credit control and payroll duties

Management reporting – in addition to maintaining the books and records we produce timely accurate management reports delivered to the key people in a format that will be best suited to your business needs

Ensuring compliance with statutory obligations – filing of company accounts, corporation tax returns, VAT returns and any other statutory obligations

Providing professional advice – provide advice on accounting, tax, finance and reporting requirements on an on-going basis

Managing staff – we manage, train and direct your finance staff

Providing assistance to multinational businesses – assist with the formation of UK entities

Liaising with external auditors – agreeing terms, preparing information, dealing with queries and delivering the final financial statements

For further information, please contact Steve Govey or your usual Beavis Morgan Partner.