5 QUESTIONS TO ASK YOUR

CURRENT ACCOUNTANT

CLARKHOWES.COM

08442 492209

1. LEGAL STRUCTUREIs the legal structure of the business working efficiently?

1. Is the legal structure of the business working efficiently?

• Simply changing the way in which your business is

structured could save you money and offer other

significant benefits.

• Take advantage as a sole trader, partnership or limited

company

• There are often better ways to structure

2. TAX PLANNINGAm I making the most of effective tax planning and the

various tax reliefs available for small businesses?

2. Am I making the most of effective tax planning and the various

tax reliefs available for small businesses?

• It is important to know about tax changes &/or pending

legislation

• Can impact your tax liability and ultimately profitability

• Popular schemes:

• Annual Investment Allowances (AIA)

• Enterprise Management Incentives (EMI)

• UK residential property tax reliefs

• Patent Box

• Research & Development Tax Credits

3. THE ECONOMYIs the business in a good financial position to survive

another economic dip?

3. Is the business in a good financial position to survive another

economic dip?

• Timely, relevant business management information

is crucial

• Understand reporting and how to read results

• Which reports are most illustrative:

• Profit & Loss (P&L)

• Balance Sheet

• Cost-Accounting

4. REGULATIONIs the business ready for the changes in government

regulations regarding RTI and Auto-enrolment?

4. Is the business ready for the changes in government

regulations regarding RTI and Auto-enrolment?

• On 6th April 2013, HMRC changed the way nearly all

UK businesses report Pay As You Earn (PAYE)

• The biggest change to the system since 1944

• Even if you outsource payroll, submitting ‘Real-time

Information’ (RTI) is still your responsibility

• Talk to your software provider and make sure they’re

RTI-compliant

5. CASH MANAGEMENTHow can I improve cash management within the

business?

5. How can I improve cash management within the business?

• A recurring issue amongst our clients

• Cash availability is scarce, banks still cautious lenders

• Find ways to ensure consistent cash flow!

• Accountants should measure cash flow, improve

receivables and provide effective planning

• Make sure you can survive shortfalls

THANKS FOR LISTENING!VISIT: CLARKHOWES.COM

CALL: 08442 492209