Business Development with Tactical Management Accounting Services
Ridgell & Guildway Accountants Ltd tactical services can help you see clearly how your business is performing in the short term, so you can make informed changes early on.
Tactical planning is the process of developing short-term plans to achieve long-term goals. It involves taking specific steps to achieve your overall business goals and monitoring their impact on your business and financial performance. In an unstable economy, having timely and relevant information can help you mitigate some of the harsher effects.
Management Accounts Plus
Chartered Management Accountants can offer added value through providing commentary which gives context and a platform for explaining things that financial statements are unable to provide, e.g. The businesses long term strategy and how performance is related to it, claims against the business and its resources.
What you will receive
- Profit & Loss with balance sheet
- Gross margin (ratio) or gross profit (fixed)
- Balance sheet
- Cash flow statement
- Comparison with previous years
Management Accounts Plus includes commentary
- This provides context and a platform for explaining things that financial statements are unable to provide, e.g. The businesses long term strategy and how performance is related to it, claims against the business and its resources.
If this sounds like something you could benefit from, contact Ridgell & Guildway Accountants Ltd for your Management Accountants. As Chartered Management Accountants we’re ideally positioned to provide useful insight.
Profit Improvement Plans
You don’t need a big bang to improve your profit. Small, incremental changes can make a big difference when they are implemented consistently.
Arsene Wenger, the former manager of Arsenal Football Club, understood this principle well. He made small changes to the team’s training, diet, and pre-match preparation. These changes, when combined, resulted in a noticeable improvement in the team’s performance on the field.
Profit improvement plans (PIPs) work in much the same way. By making small, incremental changes to key areas of your business, you can improve your profitability over time.
Contact us at Ridgell & Guildway Accountants Ltd if you would like to improve your profitability.
Tax Planning and Advice
Tax planning is about being aware of and making use of suitable tax-efficient opportunities to reduce your tax liability. This can involve a variety of strategies, such as:
- Taking advantage of allowances and reliefs.
- Timing your income and expenses.
- Choosing the right investment structures.
- Claiming all your deductible expenses.
- Make sure you are using all your personal allowance.
- Contribute to a pension scheme.
- Invest in tax-efficient savings accounts.
- Claim all your deductible business expenses.
It is important to note that tax planning is not about tax avoidance – it is about using legal and legitimate methods to reduce your tax bill.
Talk to us at Ridgell & Guildway Accountants if you are unsure about how to reduce your tax liability. We can help you understand your tax position and identify any opportunities to reduce your tax bill.
Tax Status Disputes IR35
A headache for a lot of people who are self-employed and provide your services via a limited company, as certain contractual employment agreements could mean that off-payroll working rules (IR35) are applicable.
There are some helpful case studies found at gov.uk which give an idea of the various scenarios that can play out. Click here for more information.
If you need a little help and guidance in resolving your IR35 status dispute, contact Ridgell & Guildway Accountants Ltd today.
