As we enter a new financial year...
29th March 2017
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People running their own business; sole traders, SMEs and much larger companies, are mostly gifted creators who have come up with an idea and followed through to execute their dream, be it a maker of goods, a supplier of services, repairer or a seller. Entrepreneurial characters generally work long hours dealing with their core business, so outsourcing your Financial Administration makes perfect sense as it takes away a layer of time consuming effort allowing time for much needed rest, or to generate more new business.

Here at Gibbons Mannington and Phipps Chartered Accountants, we understand local business and provide a dedicated, professional service to our clients. By outsourcing the financial management of your business, this allows you to focus on what you do best.

Too many business people lose money by not being aware of their true position, by not dealing with their accounts in an orderly fashion and by not getting the best out of the Tax Breaks that are available, or simply not understanding the system. That is where we come in!

At Gibbons Mannington and Phipps, we work very hard to ensure that our clients are well cared for and that the service we provide is tailor-made to suit their individual needs. We take a proactive view of ensuring that our clients have access to Tax Breaks at every opportunity, making outsourcing through us cost effective.

How can we help?

Account preparation, we assist businesses and organisations by preparing or reviewing management accounts, budgets and cash flow statements when carrying out strategic planning or raising finance. We can also prepare reports for investigations including litigation support, fraud and irregularities as well as due diligence and investment objectives.  We keep a careful eye on the Tax calendar, ensuring that correctly prepared accounts are ready in time and that submissions and payments to HMRC are made on time- thereby avoiding penalties.

VAT advice and assistance, for businesses trading above the cut off. We offer a range of VAT services including advising which VAT scheme is most suitable, registering your business for VAT, assisting with the preparation of your VAT Returns and advising and calculating Partial Exemption calculations for those that deal with exempt and standard rated supplies.

Businesses that are already registered for VAT should be aware of differing rates of VAT including exempt supplies and those which are outside the scope of VAT. There are special rules for many situations and types of businesses including charities, the supply of second hand goods, tour operators, buildings and construction and imports and exports.

We are here to help – if you’ve been ‘burning the midnight oil’ just to keep on top of the figures think again and give us a call on 01424 210530.

About the Author

Karen Crowley

Member since: 11th December 2014

I have worked for Gibbons Mannington & Phipps LLP since 2000 and became a Partner in January 2018.

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