Accounts

As part of our annual compliance service, we prepare financial statements for sole traders, partnerships, Limited Companies, Limited Liability Partnerships and trusts/estates. In addition to this, we can prepare monthly or quarterly management accounts, which are essential for any business looking to make an informed management decision, as waiting for year end figures can mean making a decision based on outdated information.

We present farm accounts in a format which allows the contribution from each element of the business to be assessed and enables a direct comparison with other businesses.

Finally, we know that cost is one of the most important factors in choosing an advisor, therefore wherever possible we look to work within an annual capped fee, agreed upfront so there are no hidden surprises.

Taxation

Our services can range from compliance, the completion of H M Revenue & Customs Self Assessment Tax Returns for individuals and partnerships, or completion of form CT600 Company Tax Return for Limited Companies, to implementation of new tax efficient trading structures or succession strategies. The services we provide depend upon the individual requirements of our clients and their long term objectives.

There are a number of different allowances and reliefs available specifically to Rural & Agricultural Businesses. We are able to use our sector specialist knowledge to ensure tax efficiency for all of our clients.

Audit

We are registered to undertake audit work by the Institute of Chartered Accountants in England and Wales (ICAEW) and therefore able to provide this service to those who require or choose to have an audit.

Outsourcing Services

  • Accounts and Finance Department
     
    We can outsource anything from occasional or temporary data processing requirements through to replacing a full accounting function. Commonly clients outsource data entry, control account reconciliation and VAT return completion to us.
  • Payroll Services
     
    We offer a full payroll bureau service for accounts clients and non-clients alike. This includes preparation and provision of weekly, monthly or quarterly pay slips together with all associated statutory calculations and ensuring all RTI submissions are made. We also deal with P11d Benefit in Kind forms, including submission to H M Revenue & Customs.  We can also deal with Auto Enrolment through our sister company Moore Scarrott Financial Planning (MSFP).

Business Development Advice & Future Planning

We understand that Rural & Agricultural businesses face tough challenges in the current climate with increasing volatility in both input and output prices. We have extensive knowledge of the market and can help put together long term business plans, assess the viability of a new venture or simply to structure finances in a way which will provide maximum protection for individuals and the family. We will assess the structure and overall position of the business and, if necessary, help to implement a more commercial and tax efficient trading structure.

Many farmers and estate owners are seeking alternative sources of income, such as tourism, energy production or food processing/retailing. Moving away from traditional farming activities can give rise to a number of commercial and taxation issues which we, as specialist advisors, will have seen frequently before.
In short, we can help to ensure that a business prospers in a sustainable way for years to come.

Corporate Finance

All practices need a sound financial foundation to underpin their success. We provide assistance in any matter of corporate finance; . whether the practice requires cashflow projections or a business plan to obtain a new loan, or to renegotiate expensive loan terms. We have extensive contacts in the banking and finance sector all over the UK and, in many cases, can negotiate preferential rates due to our close working relationships with lenders.

We have dedicated contacts in the banking and finance sector across the UK and, in many cases, can negotiate preferential rates and arrangement fees due to our close working relationships with lenders.

Tax Mitigation

We are experts in devising, implementing and managing tax mitigation strategies for our clients. Alongside this, we make sure that our clients are fully aware of the benefits and reasons for implementing these strategies.

Business Structuring & Re-Structuring

It is imperative that a business has the correct structure at any given point of its lifecycle not only for commercial and protection reasons but also for tax mitigation and succession planning. We analyse current structures and give advice on re-structuring if necessary and appropriate. This could be to limit liability, improve tax efficiency, allow joint venturing or to facilitate succession.

Information Technology

In order to help businesses increase the accuracy of their accounting records, we can assist in upgrading accounting systems.

We have a close working relationship with a number of hardware and software providers and can provide onsite training to ensure maximum value from the systems.

We hold Sage Accountant Partner status and are also registered resellers of other popular packages, such as Quickbooks. We can offer bespoke training and help guides alongside the purchase of any new package.

Forensic

In business, matters do not always go as planned, as such we can offer Forensic Accountancy services to help you deal with these situations in the unfortunate event they occur. Some of the circumstances where our Forensic services may be of use could be in loss of earnings claims and dealing with matrimonial issues.