Rural Services

Rural service-based businesses play a key part in the UK economy. Whether you are a landscaping or a dog walking business, you will be facing many of the same challenges.

Working with our clients, we help identify these challenges, and create solutions to solve them. This might be with a focus on your numbers, or a focus on people (customers and staff). Our services are tailored to your business.

Deeply invested in your success

We’re passionate about helping rural businesses grow and thrive. As a small firm with a big heart, we pride ourselves on offering personalised attention to each client. We’ll take the time to understand your unique business needs and challenges, and we’ll work with you to develop tailored solutions that support your growth and success.

HERE ARE SOME EXAMPLES OF HOW WE CAN HELP YOU:

Whether you are a landscaping business, a wedding venue, or a dog groomer, rural service businesses face similar challenges.

The current state of the economy is changing consumer’s buying habits; rising costs are squeezing margins, staff are more difficult to attract and retain, and customers are paying later (if at all).

Bookkeeping

In our opinion, this is one of the most crucial parts of any business. Having up-to-date and accurate financial information is the cornerstone of all aspects of your business.

Identifying cash flow shortfalls, estimating tax bills, forecasting wage and input increases, and improving credit control are all examples of ways we can help, but they all rely on good bookkeeping.

We provide bookkeeping services, to free up your time and let you focus on running your business, and we also assist in implementing new software and provide training for those who wish to do it themselves.

Cash-flow

As mentioned above, improvements to cash flow can often be made when focusing on the payment process.

We work with you to identify any inefficiencies in the payment process and then improve them to put money in your pocket faster.

This might be by requiring deposits, it could be improving the speed of invoicing, or automating late payment reminders.

Tax Services

Tax savings play a vital role in your business's cash flow. No one wants to pay unnecessary tax, and our expert knowledge of capital allowances, tax-efficient remuneration, and tax planning opportunities helps ensure this is not the case for you.

Forecasting tax bills and building them into cash forecasts enable better decision-making and planning.

Staffing

The constant changes to the National Living Wage will mean your staffing costs are increasing. We help you understand how those changes impact your bottom line and work with you to ensure systems and processes are in place to make your business as efficient as possible.

Accounts

Cloud software enables us to work with you to produce accounts sooner. Gone are the days of not hearing from your accountant until a month before your accounts are due or being told your tax bill a day before it is due to be paid.

Accurate bookkeeping enables you to make business decisions. Accounts are for compliance purposes and finalising tax calculations.

Embrace modern accounting for greater visibility and control

Take control of your finances with modern accounting. With our assistance, you can embrace your numbers and have greater visibility over your business, empowering you to make informed decisions. We use cloud-based accounting software and tools to provide you with real-time insights into your financial performance. We’ll also help you to implement best practices and streamline your accounting processes.

Deeply connected to the rural community

As part of the rural community ourselves, we understand the unique challenges and opportunities that rural businesses face. You can trust us to provide insightful advice and tailored solutions that align with the specific needs of your business.

We’d love to learn more about your business and how we can help you achieve your goals.

Martin and Helen Cook

Contact Roake & Cook today to schedule a consultation and experience the difference a modern approach to rural accounting can make.

Our husband and wife team brings a personal touch to our services. We genuinely care about our clients and go above and beyond to deliver exceptional service. You won’t be treated like just another number; instead, you’ll experience the warmth and dedication that comes from working with a team that genuinely values your success.

Building lasting relationships is at the heart of what we do.

Here are some examples of clients we have in the Rural Services industry and some key examples of how we have helped them:

Sarah, animal breeder

Sarah had been tracking her numbers using spreadsheets and was increasingly finding that she was losing track of how the business was performing. She wanted to learn more about the benefits of switching to cloud accounting, and how that could help her keep track of everything.

Having explained the benefits and shown Sarah some examples of how the switch could help her, we set-up Xero for her business and created a system to make her bookkeeping easier. Sarah now tracks everything via Xero, with invoices uploaded using an app and she is able to see the performance in real time. One of her worries was keeping under the VAT registration threshold, which she is now able to track without having to spend hours manually reconciling invoices and spreadsheets.

We also prepare annual accounts and provide tax estimates soon after the year end, ensuring Sarah has time to gather the funds to pay her tax bill, and isn’t surprised with a nasty last minute warning that tax is due in a couple of weeks.

FAQS SPECIFIC TO RURAL SERVICES

How can cloud accounting software help my business?

Regular and accurate bookkeeping, combined with the use of modern software, allows business owners to know how their business is performing now – not 9 months after their financial year-end.

Having your numbers at your fingertips allows faster decision-making and removes the worry about how your business is performing.

Implementing time saving features such as automated invoicing, digital time-sheets and automated debt control all free up time.

Labour costs and supply are a constant battle, what can I do?

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.

What is the best business structure for a small business?

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.