By Phil Harris
Harris & Co
IT has been another interesting year – the economy yet again beat the persistent negative expectations of the ‘experts’ in the first quarter of the year, according to Office for National Statistics (ONS) figures, with UK GDP up 1.3 per cent in the year to the second quarter of 2019, 0.1 percentage point above economists’ predictions.
This is at complete odds with the daily media diet of doom and gloom around Brexit and would only seem to highlight that the economic impact of Brexit really is not clear to anyone, least of all to the experts.
Uncertainties still lie ahead about what the ultimate shape Brexit will take and its effect might have in the short, medium and longer terms. Only time will tell what the impact of the changes will be.
It is vital for the local economy that its SMEs remain vigilant to changes in their environment and with that in mind, Harris & Co provide a specially tailored service that ensures SME clients get the best possible advice as they take their businesses forward.
We can provide:
* Extensive financial expertise backed up by rigorous specialist training. Our team has maintained their knowledge through ongoing professional development and with this expertise, small and medium sized businesses can count on us for high-quality advice on any aspect of their financial affairs.
* We can help with all tax decisions, limit tax liabilities and identify the deductions and credits which small and medium-sized businesses are entitled to. Complex changes in tax legislations can impact businesses greatly. Our chartered accountants will help you stay up to date with changing legislation and offer advice that will give SMEs a competitive advantage.
* We can help clients decide on the right trading structure to operate small or medium-sized business.
* Keeping proper records is not only good business practice, but is also a legal requirement. HMRC can fine businesses up to £3,000 for failing to keep suitable records. We can help with this task and keep businesses compliant.
* When it comes to accounting software packages, finding the best solutions can be tough. Harris & Co can assist with using the right technology and software packages. With in-depth knowledge and a wealth of experience, we can help you find what will work and what will not. With MTD just around the corner, and mandatory filing of VAT returns through accounting software, we are ideally placed to help the 80 per cent of SMEs who do not use accounting software
* We can help clients make better management decisions by giving up-to-the-minute management accounts. This will help detect problems instantly before they become a threat.
* Financial projections and cash flow forecasts are important factors for understanding the financial position of a business. We can help you with the preparation of your cash flow forecasts, budgeting and financial projections as and when needed.
* We can help you create a realistic budget and help you balance fixed and variable costs within your business.
* As a business grows and expands, it can be challenging to maintain control over it. We will help ensure the right systems are in place to stay in control of business activities.
* We simplify the tax returns process, so that clients have peace of mind and don’t have to worry about penalties for the late submission of returns.
Whatever the future holds – strong and stable or a little more challenging, the right financial advice is invaluable to any business.
Find out more by contacting Harris & Co on 01604 660661 or visit www.harrisandco.biz