But it’s not always about the money
Steve’s third meeting of last week was with an existing client. He is helping to launch a major initiative in Cornwall, and needed some help in deciphering the project cashflow forecast prepared by another accountant. Trusting Steve due to his previous work with us, he showed Steve some highly confidential projections, and now understands that the project could be as good as he initially thought.
At the forefront of technology
Andy has regular ‘Geek Time’ blocked out in his work calendar, so that he can continually look at streamlining processes within the office – and look for great new ideas for our clients too. From March, we will be using @IgnitionApp to make our engagement process 100% paperless (And less painful for the admin team!). And we will be rolling out a series of fresh tech ideas in the very near future. Keep an eye out!
Hitting the goal
This is not a football metaphor, but Steve met with a potential client and showed him a way to pay off his £75,000 mortgage within three months! (And reminded him to protect it by getting a will drawn up too!)
It’s not (just) about the money
Sometimes, the right thing to do means we lose out. Steve met with two potential clients this week, and found a way to cut their accountancy fees, by recommending other routes to the goals they want to achieve. We can achieve our goal of Making Lives Better, sometimes without taking any fees! Put us to the test, as we’ll only suggest you use us if it’s best for you.
Ingenious tax planners preside here!!
A family wants to pass on the property from which the business trades but Dad wants a lump sum to retire on. Steve has found a way to deliver massive tax savings, and set the foundation for some tax-free gains in future. This was done in our reception area so you may not need a long meeting to benefit from our experience!
Chocoholics at Numbers
January is now in full swing – and so is ‘tax return season’! The team at Numbers are diligently completing tax returns for our clients, and after each one they receive a reward. Last year we had the opportunity to pop a numbered balloon (we loved it!), and this year we choose an envelope … Have a quick look at these pictures to find out more about these envelopes … (Rachael – jokingly – offered to pay the team in chocolate this month!) Call to action – If you haven’t yet sent in your tax return information, now is the time to do it, since we can’t guarantee submission for late provision of info!
Some little (and much larger!!) gems from Andy
Back in the summer we implemented some bespoke tax planning for a client, and this week we were able to confirm that they had saved a whopping £87,596 in combined Corporation & Income Tax savings! Cashflow can be tight after Christmas, so make sure you review your self-assessment payment on account due in January. A review for one client enabled us to lower the amount they need to pay by £6,250. Thinking of changing your vehicle in the new year? Make sure you speak to your accountant. By ensuring that one client purchased the correct commercial vehicle we ensured that he will receive a 100% tax deduction this year, saving £4,996 in corporation tax. Did you know that if a customer doesn’t pay you after 6 months, you can claim ‘VAT Bad Debt Relief’ and claim back the VAT you have previously paid to HMRC? One client didn’t, and now…
Christmas Message
The team at Numbers – and our fluffiest team member, Molly – wish all our friends A VERY HAPPY CHRISTMAS AND BLESSED NEW YEAR!
Team successes
Well done to two of our team who are studying towards a professional qualification! Rachael has achieved another high mark in her latest assignment (counting towards her degree in Business Management) – one mark off the top mark at 82%. Reece has also passed another exam in his AAT studies – ‘Preparing final accounts for sole traders and partnerships’. Only one more exam to pass before he completes AAT Level 3! He has also passed the XERO exam, and is now a certified XERO advisor – along with many of our team.
Lump sum for Christmas!
Have you ever considered the benefits of keeping your accounts up to date regularly? Last week we identified £4,800 of unpaid invoices for a client, which wouldn’t have been picked up on if we weren’t completing regular financial checks for them. The business received payment of the outstanding debt within 4 hours! Whenever we engage with a new client we take the time to review their previous financials. Last week this resulted in a client benefitting for £2,115 of additional VAT deductions which had been overlooked by our predecessor.