1. What are compliance services and why are they necessary?
If you run a business in the UK there are a number of statutory obligations imposed upon us by the government to ensure that we pay the correct amount of tax and that we operate in a fair and responsible manner. For most business owners these do not add any value to the business and are seen as a distraction from running and growing the business. So how can you comply with the law and ensure you keep your focus business growth?
A list of compliance services is provided below.
2. Keeping Your Focus on Running and Growing Your Business
FBD is a tax and accounts specialist. We already provide ongoing compliance services for a large number of businesses on a monthly basis. So, if we focus on providing you with a world class accounts and compliance service, this frees you up to concentrate on running your business with total peace of mind.
3. Ensuring Your Accounts are Understandable and Useful
Our experience is that year end accounts are produced many months after their year end. This renders them almost meaningless – they are historic and have little relevance to what is happening in the business now… and even when they do receive the year end accounts many business owners do not understand them anyway!
However, if you receive your accounts promptly after the year end and FBD works with you year on year to increase your understanding of what they are telling you… then they become a useful business tool.
It is our belief that this is not only possible, but also that it is an accountant’s duty to do this.
- work with you to confirm a timetable of activity ahead of time
- inform you as to what we will be doing and when
- ensure you know what you need to do and when you need to do it
- prepare your accounts promptly
- ensure that you receive them whilst they are still relevant
- take the time to interpret the accounts to you so that they become a useful business tool
4. FBD - Your greatest fan!
We are passionate about helping our clients succeed. To this end, we want to help you understand your numbers and help you to interpret them. We want to help you understand your financial trends and key financial and numerical statistics in a proactive way. Once we understand where your results come from, we can then use these to improve your results dynamically. We want to cheer you on and help you to win!
We will meet to:
- discuss results
- consider underlying business drivers and success factors
- consider industry trends, and opportunities and threats to your business
- the strengths and weaknesses of your business
- consider “quick win” ideas
- consider your business potential
5. Your Business as a Reflection of You
So many business owners lose sight of what their business is about. The business exists for the business’ sake, not for the owners! Your business goals need to be aligned to your personal goals over the next 5 years. Once you are clear on your personal goals, we can help you to establish what the business needs to achieve to fulfil these goals. We can then set business goals for the next 5 years.
Having set business goals we can then identify the underlying success factors and the necessary actions to be taken and measured on an ongoing and systematic way.
- assist you in setting goals for both the business owners and the business
- help you to see whether your current business results are moving you closer to achieving these goals
- assist you to better align the two
- clarify action required to moving you towards your goals
6. The key ingredient is ‘proactivity’.
At FBD we have developed systems to ensure that we always instigate actions well ahead of time. The key benefits to you are:
- there are no nasty surprises
- you receive professional advice in advance to plan your finances effectively
- opportunities to minimise your tax liability are maximised
- you get a quick turnaround of accounts
- the ability to highlight issues and trends and implement positive solutions early is enhanced
7. FBD Accounting & Compliance Services