Specialisms > Veterinary > Services

Accounts

We produce accounts for our veterinary clients as frequently as is appropriate. From a compliance perspective, annual accounts for tax purposes are required. For Limited Liability Partnerships (LLPs) and Limited Companies, annual statutory accounts are also required.

For the majority of our veterinary clients, we prepare quarterly management accounts (monthly for some). They include monitoring of all KPIs, such as Gross Margin, Labour Cost Ratios, Fee:Drug Ratio and turnover per MRCVS.

Preparation of accounts is simply the starting point. Interpretation and action are where value is gained and specialist veterinary knowledge and experience is essential.

Taxation

  • Business & Personal Tax

    We provide a complete tax service with an in house specialist tax team. For partnerships and Limited Liability Partnerships (LLPs) a partnership Self Assessment Tax Return is required annually and we deal with this for clients once the annual accounts are complete.For individuals, a personal Self Assessment Tax Return is required and our tax team deal with personal tax cases where there is no business interest but where a Self Assessment Tax Return is required.

  • Corporate Tax

    Corporate tax services are provided to our corporate clients, and includes the preparation of Corporation Tax Computations and submission of form CT600 (Company Tax Return) to HMRC. These services are provided by our specialist veterinary accounts and tax team.

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 clients 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).

Proactive Added Value Services

This work is added value, consultancy work that assists our clients in developing their businesses, mitigating tax, improving profitability and efficiency or achieving their aspirations. In short it should make them better off in some ways.

Financial Management Support & Advice

When presenting our clients with financial information be that management, tax or statutory accounts, we provide advice on what the figures mean and what action to take as a result. We always keep their aims and objectives in mind to assist clients in achieving maintainable improvements.

So often numbers are presented and options given with no advice being offered. We aim to be different in actively advising clients rather than simply decisive options.

Benchmarking

We find that when presenting a set of numbers, it helps to have a set of comparative figures in order to put your data into context. As such, we offer a full benchmarking service to all of our clients, whereby performance practices can be tracked against our client base of over 220 Veterinary practices (on an anonymous basis). We can use this information to track the trends in your area and also for species work type.

Business Development Advisory Services

As well as the ‘core accountancy’ role, we also assist in all areas of practice management and development. Including detailed cost reviews, marketing advice, profitability reviews and overall business development advice. We have acted for a number of start ups which have gone on to become successful practices and we are able to apply this experience, combined with specialist knowledge, to help maximise the return on investment.

We aim to bring more than just figures by taking the time to understand and analyse business practices and identify areas to improve efficiency and performance.

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.

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.

Practice Structuring & Re-Structuring

We understand that throughout the lifespan of a practice, there will be a number of changes. Whether brought about by necessity, a planned restructure or by differences between existing owners. That is why we have developed the necessary skill set to deal with all aspects of business structure, change and succession. This work can include admission of a new partner, retirement of an existing partner, buyouts, mergers, changes to the financial or funding structure of a business, planning for eventual retirement, business sale or purchase, property issues, incorporation, LLP, JVP, de-merger and SIPP considerations.

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.