What’s included in our Family Business Accounting package?
When working as accounts for family businesses, we see the stages that they go through. It’s exciting for everyone, including us, but the dynamics bring challenges that require careful thought. For example, we can investigate the financial benefits of technological investment and guide the family in making the right decision for the business.
When it comes to Accounting for your Family Business, we can assist with the following:
Value Added Tax
Different rates for different businesses You may need help with your Value Added Tax (VAT) obligations, and advice on registration and when voluntary registration may be beneficial. It is important to look at your purchases and see which input VAT can be claimed, and know the difference between the different rate schemes and which products […]
Statutory Financial Statements
Taking the stress out of preparing your statutory financial statements, keeping everything clear and compliant. Any business generally has nine months from their year end to file their statutory financial statements and accounts with HMRC. To do this properly, you also need full unaudited statements for the shareholders which are attached to the Corporation Tax […]
Personal Tax Returns
Expert knowledge to help you maximise the numerous tax allowances and reliefs that are available Many people find it time consuming and complicated to file their own personal tax return, and still ensure they only pay the right amount of tax. Whether you are a sole trader, in a partnership, a director of a limited […]
Payroll
A complex, ever-changing landscape Payroll can be incredibly time-consuming, with the added pressure of ensuring it is completed accurately and to a specific deadline. As an employer, you are required to submit payroll information, as well as national insurance and PAYE tax, to HMRC every time you pay an employee. There are many questions you […]
Management accounts
Taking care of your day-to-day business Our aim is to take care of your day-to-day business through managed accounts, and ensure the relevant statutory filing is always submitted on time. With the complexity of required submissions to Companies House and HMRC, it makes sense to let us handle your bookkeeping, payroll, VAT, and final yearly […]
Financial Director
A comprehensive advisory service All top athletes achieve the peak of their career by working with a coach, and we know that every business that wishes to reach the top must have a team of trusted advisors around them. We will always be there to provide up-to-date financial information, projections, data analysis and will always […]
Corporation tax
Ensuring you pay the right amount of tax When compiling your statutory financial statements, care must be taken with both the Corporation Tax computations and the final return. Apart from the financial statement, many necessary supplementary pages need to be prepared; for example, where the company has made loans to those with a participating interest […]
Construction Industry Schemes
We make dealing with Construction Industry Scheme (CIS) rules simple – so you can focus on building, not paperwork. Whether you’re a contractor, subcontractor or a business that spends on construction, then the Construction Industry Scheme may apply to you. The scheme’s rules could affect how your tax and national insurance contributions are handled. It […]
Company Secretarial
We take care of your company secretarial tasks so you can keep your focus on steering the business forward. Every business must have someone to take care of the company secretarial side of the business and deal with Companies House, yet this is an often-overlooked yet important task. And it’s not just about filing of […]
Capital Gains Tax
Taking full advantage of your allowances If you sell assets that have increased in value, then you are going to be liable for Capital Gains Tax on the profits. From personal possessions, business assets and property, to shares and investments, you need to make sure you are paying the correct amount of Capital Gains Tax. […]
Bookkeeping
Financial expertise and support with the day-to-day accounting needs for your business It can be a time-consuming, complex, and often-neglected task. However, every business is required by law to ‘keep books’ and as your business grows, so too does the amount of bookkeeping. You need financial expertise and support with the day-to-day accounting needs of […]
Accountants for Family Businesses – Why Working with an External Partner is a Good Idea
You’re running the family business yourself – why should you invest in a family business accountant? There are several reasons why partnering with an accountant is a good idea for your family business.
Growing Your Business – Working in the world of finance gives us the knowledge and experience to know how to grow your business. If this is on your agenda, then working with an accountant who specialises in family businesses is key to your success.
Succession Planning – You could be looking to hand your business down to the next generation imminently, or they could just be starting to show an interest in the family trade. Any time is a good time to investigate succession planning, and working with a family business accountant can help you build a plan for future success.
Dealing with Conflict – Unfortunately, conflicts in family businesses are not uncommon. Having a mutual third party can often help defuse the situation and ensure everyone keeps their business minds.
Helping your Family Business to Thrive
At Essendon, we want to work with you and further help you grow your successful family business. Our family business accountants don’t just support you with your compliance requirements; we work with you to understand your business and the unique challenges you may face.
We work as family business accountants for organisations that need financial guidance and mediation. We ensure a firm hand oversees the finances so you and your family can concentrate on running the business. Contact us for more information and to start a great partnership.
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Start your journey with Essendon Accounts & Tax today
Call us on 01908 774320, send an email to enquiries@essendonaccounts.co.uk or fill out the form below: