NWN Accountancy & Business Advisory Services

Click on the links below to find out more about our services:

  • Limited Liability Companies
    • There are four main reasons why people operate under a limited liability company.
      • They wish to ring fence their own personal risk
      • They wish to utilise the tax laws to maximise their earnings from the company
      • They want to build a business that they can eventually sell in whole or in part
      • They operate in an environment where there is additional weight attributed to operating as limited liability company
    • We are able to advise you on how you might use a limited company for any or all of the above reasons
    • We will prepare your annual accounts and company tax return and ensure that they are filed with the regulatory authorities within the statutory timescales.
  • Sole Traders (including Freelancers) and Partnerships
    • If you have chosen to carry on business not as a limited company whether due to size, administrative basis or other reasons then you will still need to submit a tax return.
    • You also have a legal duty to maintain proper accounting records and prepare accounts to support the figures shown in your tax return. This still requires our expertise because anyone from the HMRC to your bank or mortgage company will have occasion to ask us to confirm the numbers or provide a detailed explanation as to how the figures where arrived at.
    • More fundamentally though, you should want to know exactly how your business had performed and how financially healthy it is.
  • Not for Profit Companies and Charities
    • The increased opportunities for organistions to derive income from Grants and Donations through a tender or commissioning process has led to an increase in Not for Profit Companies (limited by guarantee) and Charities.
    • These organistions often have additional reporting requirements to traditional limited companies such as complying with the Charities SORP and specific reports to funders.
    • At NWN we have the experience and infrastructure to deal with these scenarios; and are willing to share this with you.
  • Tax Compliance
    • Corporation tax and Income tax represents a substantial cost to any business, not only in terms of the tax itself but also in compliance with reporting obligations, investigations with tax authorities and penalties for non-compliance.
    • We can help you minimise your tax payments and relieve you of the administrative burden of complying with tax legislation. We will deal with all business tax matters, including preparing income and corporation tax computations and preparing and submitting your partnership tax return or corporation tax self-assessment return.
  • Tax Planning
    • Although successive Chancellors are intent on reducing the opportunities to avoid tax, they do exist.
    • We work with our clients to be in a position to advise them of how and when to take advantage of these opportunities. However in order for this to happen it requires the accountant to be in possession of the necessary information in advance. This can only happens where client and accountant have forged a framework which involves continuous co-operation.
  • Payroll
    Running your own payroll can be time consuming and complicated, particularly with the ever increasing complexity of taxation and employment legislation. There is an increasing burden on business to comply with these issues and non-compliance can lead to substantial penalties. We can prepare payrolls for businesses with 2 to 200 staff.

    Our service is comprehensive and confidential and includes:

    • Computer generated payslips
    • Administration of PAYE, national insurance, statutory sick pay, statutory maternity pay, etc
    • Completion of statutory forms (including year end returns)
    • Summaries and analysis of staff costs
    • Administration of incentive schemes, bonuses and ex-gratia termination payments.
    • Completion of the form P11D for the relevant directors and employees.

    Even if you only have a few employees, you will make savings by engaging us to administer your payroll.
  • VAT and Book-Keeping
    • We can relieve you and your business of a significant burden by taking care of all your bookkeeping and accounting needs. This ranges from making use of our in-house bookkeeping bureau to the preparation of your annual accounts. We will treat every business individually so that we can tailor our approach to your requirements.
    • Besides the core bookkeeping, we can also maintain your VAT records, prepare your payroll and take on ad hoc projects to free up valuable time for your staff.
    • We believe that our high level of IT literacy can help improve our efficiency and help our clients to set-up their accounting systems to be efficient and effective. We are Sage Accountants Club Members and MYOB consultants and can supply software, hardware and training for both products.
  • Virtual Finance Director
    • You understand your business, you know where you want to go, you have a book-keeper; but what do the numbers really tell you and how can you use them to achieve what you want?
    • It is in these scenarios that you need the help of someone with the commercial experience and understanding of finance to work with you. Large companies will have a full time Finance Director, we are able to assist you on  a part-time basis and work with you in your office or remotely. The senior partners and managers in NWN have done this before with clients, and in their own business. If this service is of interest then please contact us for an initial discussion. 
  • Management Accounts, Cashflows and Budgets
    • These reports do not need to be over complicated and are not he preserve of larger companies. The most successful businesses will have the information contained in these reports and use it to proactively manage their business, and to make fundamental decisions.
    • They give a current and forward looking picture of the business that enables decision makers to make decisions. They also assist your accountant in tax planning, dealing with your bank manager and giving general advice.
    • In smaller businesses it is not uncommon for the accountant to prepare this information for you. Our understanding and use of modern accounting and forecasting tools enables to carry out this task at a cost effective price.
  • Dealing with your Bank Manager
    • How often have you heard someone complain that they have been with a bank for years with no problems, but when they want finance of some sort, the bank appear difficult, ask for financial information you do not have leading to a problem with your relationship.
    • This can be overcome by ensuring that two things are in place within your business.
      • Ensure that you have the financial information readily available which will answer the questions raised by the bank.
      • Create a triangular relationship between you, the bank and your accountant.

    If this is a concern for you contact us to discuss how we can help.
  • Exit Planning
    • When you want exit the business, you want to maximise the value and minimise the tax. So how much is it worth?
    • Very often when a decision is made to sell the business it is too late to carry it out in the efficient manner you wanted. Have you considerd Capital Gains Tax and Inheritance Tax. Your tax bill may be higher than you expected, the process may be more time consuming and buyers may be put off or offer a reduced price becasue the business processes are not clear nor documented and the business relies too much on YOU.
    • Involving us in your plans at an early stage can only benefit you in the long run. We can ensure the business is set up correctly and that you are advised of the steps to be taken to maximise that value.
  • Coaching with a small "c"
    We are not a firm of Business Coaches, but we spend a lot of our time coaching our clients in an informed but unstructured manner.

    We talk about issues such as:

    • How to make your business ready to be sold and how to maximise its value
    • How to interpet the financial information available
    • How to split management and strategic functions amongst the business owners and senior staff
    • What is the capacity of your business

    We are able to spend time with you discussing these and other areas; so contact us and let us point you in the right direction.