Clarand Accountants explain how they can help Newcastle businesses grow - sponsored feature

Accountants and tax advisers are no longer just about the year-end numbers and tax returns - sponsored feature

Accountants and tax advisers are no longer just about the year-end numbers and tax returns. Now it’s the business structure, forecasting, cashflow management, budgeting, tax planning and personal service which Clarand and its clients feel are just as important, if not more so, than the previous year’s numbers.

Clarand are huge believers in getting early advice on business structure and budgeting/forecasting, even whilst a business is just an idea or at least in its very early stages of planning. These numbers, along with a detailed business plan, really help get things moving.

Having the best business structure in place is crucial in helping that business, and its owners, thrive. For example; what accounting system will be in place? How will unpaid invoices be chased and who will pay creditors? Clarand has advised clients on how to structure (or restructure) their office and accounting systems in such a way that debts are chased systematically and generally the administration side of the business runs smoother. Local grants are available which can contribute and/or fully cover to the costs of this. Although it is an expense in the early days of business set-up, Clarand believes it is an excellent investment, and all its clients have appreciated the advice. Clarand, like many other accountants, will offer reduced fees to new businesses.

Providing ongoing strategic information really does help with an SME’s business decisions. Clarand prepares management accounts – which give a snapshot of where the business profit lies, what the balance sheet looks like and what the cash flow status is. Are you looking to grow your team? Invest in new equipment or premises? Refinance the business, or try to break into different areas of the market? Strategic information reports not only support clients in their decision making, but can also be provided to potential investors and/or lenders, and help sustain growth.

In start-ups and younger businesses, cash flow is key to a business becoming sustainable. If the cash in a business dries up, which can be due to circumstances completely out of the businesses’ control, this can have severe and devastating impact on the business. Having cash flows and forecast really does make a difference, and Clarand’s clients who have these find that business growth is good, planned, and sustainable.

Tax planning for a business is crucial. Depending on the structure of the SME, this can have a direct impact on the business owners/shareholders.It may be that you are entitled to claim R &D tax credits if you are working in an innovative area, or you may have losses which can be utilised. All of this can be dealt with by your accountants/tax advisers and we at Clarand are experts in this field.

Clarand Accountants, 6 Corbridge Business Centre, Tinklers Yard, Corbridge, Hexham, NE45 5SB, Tel: 01434 636 082

clarandaccountants.co.uk

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