Do you feel supported and valued by your accountant? They may be keeping your books and your tax returns up-to-date, but are they genuinely interested in your business goals and future plans? Do they keep on top of changes in your sector or advise you on the business support you may be entitled to?
If the answer is ‘no’ to the above, you are not receiving the service that your business deserves – and are likely to be missing out on valuable savings as a result.
That was certainly the case for one of our clients, a long-established Kent construction supplies company that contacted us because they were feeling under-supported. While their VAT returns and accounts were being completed satisfactorily, the company’s directors were frustrated that they couldn’t seem to get any answers when they tried to talk to their accountant about future planning and tax minimisation strategies.
When Swift took over the company’s bookkeeping, we considered the bigger picture, including the future of the business. The results:
1. Securing a £50,000 Government Bounce Bank Loan, the maximum available under the scheme. The company directors had previously been unaware that they were eligible. The funds were used to increase their vehicle fleet, expanding operational capacity.
2. Going forward we are strategically planning their pensions to maximise contributions, obtaining further corporation tax deductions for the company.
3. With our assistance, the business also took advantage of the government’s new super-deduction, under which companies that invest in plant or machinery qualify for a 130% capital allowance deduction.
4. Being prepared in advance for upcoming changes in the way VAT is calculated in construction under the Domestic Reverse Charge (DRC). An application for gross payment status under CIS was made to reduce blockages on cashflow.
Now, our client benefits from regular support and advice from an accountant who takes the time to understand their problems and offer solutions to their challenges.
Is your accountant genuinely interested in your business goals?
If the answer is ‘no’, you are not receiving the service that you deserve – and are likely to be missing out on considerable tax savings.
To receive advice that will help you grow, get in touch for a chat. At Swift, we care about the bigger picture.
Contact Adam Clegg at Swift Accountancy on 01233 557635 for a confidential discussion today or email; adam@swiftaccountancy.co.uk.