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Yes, we can. Firstly, accurate and up to date bookkeeping ensures you understand how your business is performing in real-time, not weeks or months down the line.

Secondly, forecasting with scenario planning can help you predict how changing costs will impact your business in the coming months and years.

No forecast can be 100% accurate, but it provides planning opportunities. Putting cash aside for shortfalls, looking at alternative income streams to smooth out dips, and identifying areas to improve are examples of decisions that can be made off the back of accurate numbers.

Yes, we can. Firstly, accurate and up to date bookkeeping ensures you understand how your business is performing in real-time, not weeks or months down the line.

Secondly, forecasting with scenario planning can help you predict how changing costs will impact your business in the coming months and years.

No forecast can be 100% accurate, but it provides planning opportunities.

We also have access to an energy broker, who can often beat market rates by 10% or more.

Many small businesses start off as a sole trade, often alongside other employment. As the business grows, it may be beneficial to move into a partnership or limited company.

The way in which profits and losses are taxed can be very different depending on the business structure used. There are generally more tax planning opportunities available to limited companies, but the statutory requirements and administration

 costs are higher than for a sole trade.
It is important to note that as a sole trader, there is no legal distinction between the individual and the business. The owner is liable for all the debts of the business, unlike in a company structure where there can be limited liability.

The best structure will depend on the type of business, other income, and short and long-term goals of the business owner. Making sure your business is structured in the correct way can lead to significant tax savings.

When starting out with a new food, drink, or craft business, it is highly likely you will begin operating from home.

This could be on a part or full-time basis.

Ensuring you are correctly claiming house costs can provide a nice tax saving.

In general, costs that are directly attributable, such as a business mobile or office equipment are 100% allowable.

Other expenses such as utilities, mortgage interest, council tax and insurance are apportioned i.e. you can only claim a proportion depending on the size of your house and usage and the type of business (sole trader or company).

Record keeping is vital for any business. As well as complying with tax and regulatory requirements, it helps you understand how your business is performing in a timely manner.

Whilst most food and drink for human consumption is usually zero-rated, some items can be standard- rated.

Catering, alcoholic drinks, confectionery, crisps and savoury snacks, hot food, ice cream and soft drinks are examples of items which must be standard- rated.

Businesses must register for VAT if total VAT taxable turnover for the last 12 months is over £85,000 or if you expect your turnover to go over £85,000 in the next 30 days.

Research and development (R&D) tax credits are a government incentive designed to reward UK companies for investing in innovation.

Qualifying activities could include developing new products, new packaging solutions, new methods to extend product shelf life, or improving existing production practices.

R&D work must seek an advance in the field of science or technology, not just in your company’s own knowledge.

We understand that most rural businesses have diversified their operations, particularly so with garden centres. Keeping track of each part of your business is key in understanding where cashflow issues are arising, or if there is an underperforming part of the business.

Through the use of enterprise tracking, up to date and accurate bookkeeping, and easy to understand financial reporting, we help clients monitor, measure and track each part of their business.

Accurate bookkeeping is a must for any business, but knowing how to use those numbers is key.

With minimum wage rates and tax changes constantly changing, ensuring you are on top of these is vital in ensuring employees are paid correctly and all reporting is completed on time.

Accurate payroll helps reduce employee turnover rates, and forecasting can help understand how changes to wage rates and taxes will impact your business when they come into play.