You cross certain thresholds in the growth of a business that cause friction, such as employing staff or developing new services. Step changes in the growth of the business will lead to more compliance, cash flow issues and appearing on the radar of your competitors.
An additional byproduct of growth is bigger tax bills. Rather than fret about the amount of tax being paid we help clients think about how they can increase their revenue and profit to afford to pay the tax. When this works the business owners will see an increase in their net take home and ultimately will build a business that becomes a valuable asset.
Of all the different life stages of a business, the growth stage is often the most difficult. In our experience this is when the accountant can really add value and earn their lunch.
This is the time to review the services your current accountant offers; and consider whether to upgrade from a purely compliance relationship. This is the moment to stop thinking of your accountancy bill as a cost and start thinking about it as an investment in your future. In this phase your best benchmark is your previous quarter.
It doesn’t matter what question I ask, they always have the answer. It could be HMRC, VAT, tax, anything to do with accountancy, they research it and come back to me.
Simon Heller, Orion Building Engineering Services
I would recommend them all day long.