Hornbeam Accountancy

Services For Growing Businesses

We offer exceptionally competitive pricing deals on some of our services, which we have indicated as follows.

Wherever your business is in the cycle of growth we can provide services to help you prosper.

Click below to jump to the stage in the cycle that most closely relates to your business or just read through the story.

  1. Starting up in business.

  2. Going through the VAT threshold

  3. Taking on Employees

  4. Growing Bigger

  5. Making an Acquisition

  6. Selling your business

  7. Planning for Retirement and Beyond

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1.    Starting up in business.  

If you have never worked for yourself before, it is worth coming to see us before you take the plunge. Quite apart from the practical implications, we have seen literally hundreds of business propositions, so we can help you to find and overcome the flaws in your business proposal.

If you need to raise money to start your business we can help you to draw up a business plan and advise you which are the best financiers to present your plan to. <Fixed Price> or <Contingency Fee>

We will help you get your business registered with the Inland Revenue (there is a £100 fine if you don’t register within 3 months) and set you up paying the self-employed National Insurance stamp. We will also advise you on basic record keeping and selecting a sensible year end. This service is <Free> of charge to anyone appointing Hornbeam for the first time.

We are pleased to offer a half-day course in writing up your own cashbook. Many clients have benefited from this course in many ways: - better control of your finances, lower accountancy fees, more satisfaction from doing the job right. <Fixed Price>

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2.    Going through the VAT threshold.  

VAT can be a particularly onerous tax, hitting small businesses with swinging penalties, interest and back tax. We can help you plan and monitor your business to avoid penalties, interest and back tax, by ensuring compliance with regulations. We also help you order your affairs to minimise the cost of this tax to you and your business. For example, if you go through the VAT registration threshold unaware you will be liable for VAT for the whole subsequent period, even if your turnover drops back below the deregistration limit. We can help you monitor this and suggest strategies to avoid triggering registration, if appropriate.

When you need to register for VAT we can help you with the registration, and help you set up your systems to ensure compliance, whilst minimising the cost of this tax.

Many clients choose to minimise their concerns regarding VAT compliance, by outsourcing completion of their VAT returns to Hornbeam. <Fixed Price> option available.

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3.    Taking on Employees.  

No threshold causes small businesses more anguish than taking on employees.

We can advise on employment law and payroll taxes.

We can provide you with model contracts of employment. <Free> on this website

We can advise on the thorny question of distinguishing between employees and sub-contractors. We are delighted to take on status enquiry cases.

Many clients choose to minimise their concerns regarding PAYE compliance, by outsourcing their Payroll function to Hornbeam. <Fixed Price> option available.

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4.    Growing Bigger  

There are many problems associated with growing bigger, many of which we can help with.

Tax can be a big problem with increased profit resulting in a 60% tax charge the following January (for a 40% taxpayer with a 20% first interim for the following year.) This can seriously impair your ability to invest in your business as well as being very demotivating. We can advise on a number of strategies to legally reduce your tax burden, including forming partnerships, Limited Liability Partnerships or Limited Companies.

Many entrepreneurs become snowed under with the administration and compliance requirements at this stage. We offer a number of services to help out the small business including accounts computerisation, training and support for accounts staff, and even total outsourcing (often on a <fixed price> contract). We have something of a reputation for sorting out accounts departments that have already got into a mess!

What many businesses need at this stage is help with seeing the bigger picture. We provide a business coaching service, helping our clients to assess their strengths and weaknesses, to find out where they want to be, then to develop and implement a plan for getting there. However we are also happy to answer to very specific business consultancy requirements such as how to develop a pricing policy, or how to monitor job costs. Most of our consultancy assignments deliberately involve a large element of training.

We offer a debt collection service. <contingency fee> basis available.

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5.    Making an Acquisition.  

Many successful businesses are grown by acquiring suitable targets. However this is an activity fraught with danger, nationally and internationally a very high proportion of deals are thought to destroy rather than create shareholder value. We have an excellent track record in this area.

We can help you search for targets , providing a confidential search service.

Once the target is found we can help you to ask the right questions then when we have sufficient information we can help you draw up the business plan and find the best way to fund your deal.

We can help you structure and negotiate your deal.

We can carry out due diligence enquiries on your target.

We do not offer contingency fee deals when assisting with Acquisitions, because we feel it is crucial to have no impediments to advising you to walk away from a deal if we think that the risk is too high!

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6.    Selling your business 

Probably the biggest sale you will ever make is when you come to sell your business. This is a very tax efficient opportunity for you to maximise your lifetime earnings.

We are pleased to offer advice on capital gains tax, and all the other tax implications of selling your business.

However, the best results can be obtained by considering strategies for management continuity and business disposal at an early stage, and we are pleased to help you right through the cycle. Firstly, by sorting out your particular objectives and timings. Secondly, by identifying then cultivating possible buyers, both within and external to the business. Thirdly, we can help you value the business. Fourthly, we can help you prepare the sale document and make confidential approaches to possible purchasers. Lastly, we can help you negotiate the deal. We do offer a <contingency fees> deal when helping you to sell your business.

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7.    Planning for Retirement and Beyond 

Hornbeam is not a registered financial advisor, but in a bid to expand the level and range of services that we supply, we have formed a joint venture called Hornbeam Financial Services LLP with Philip and Rose Martin.  Philip is an independent financial advisor with many years experience, with whom we have worked closely on projects in the past.  Hornbeam Financial Services LLP is able to provide those services that Hornbeam Accountancy Services Ltd cannot. This will be a fee based service instead of a commission one that can lead to unexpected costs.

If you would like any advice on retirement planning, succession planning or the minimization of Inheritance Tax, then please contact Nicky Cooper on (01603) 720424.

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