Owner Managed Businesses

 

We understand the importance of managing the financial affairs of family and privately-owned businesses. This is why we work with our clients, in many cases from the formation of their business, to provide them with proactive, timely and practical advice to address the opportunities and challenges they face.

 

 

Our focus is on building long standing relationships with our clients by gaining a detailed knowledge of their businesses, developing personal relationships and offering a flexible, pragmatic approach to their on-going requirements. We support Owner Managed Businesses with a wide range of services which include:

 

Business structure

Advice on the type of structure, for example partnership, limited liability partnership (LLP) or limited company to best serve your business from tax, compliance and practical perspectives. Where a limited company or LLP is chosen we can assist with the formation and advise on ownership structures.

 

VAT, Bookkeeping and Management accounts

Our services range from book-keeping and VAT returns to the preparation of cashflow forecasts, budgets and business performance projections.

We advise on when and how to register for VAT and explain the schemes available. 
Advice and training on book-keeping software is also provided for all commonly used packages and we can guide you through the requirements of Making Tax Digital.

 

Payroll and employees

Clients can use our payroll service to include the set-up and administration of workplace pension schemes (auto-enrolment). This includes the provision of weekly, 4 weekly or monthly payslips securely transmitted to clients and all applicable real-time submissions.

We offer advice on employment areas such as employed v self-employed, the provision of employee and director benefits and the preparation of P11Ds.
We advise on tax efficient remuneration packages for employees, partners and company directors.

 

Tax planning

We can assist with tax planning for OMBs in a number of areas:

• tax efficient profit extraction including dividends and company voluntary liquidations. 

• the sale or cessation of your business, with a focus on providing clear and timely advice to achieve the most efficient tax outcomes, including Entrepreneurs’ Relief.

• retirement and succession planning and securing Inheritance Tax reliefs.