Case Study 2 - Saving Your Time

A small company with a turnover of under £1m and one director-shareholder had its year end statutory accounts prepared and filed by an accountant.

It also had the company tax return and the owner’s income tax return prepared and submitted and its annual return filed at Companies House by the accountant.

Although the same firm was dealing with all matters, the deadlines weren't the same and they were dealt with at different times during the year generating several letters and causing interruptions throughout the year.

How have we helped?

on the spot met the owner, discussed the business and its requirements. An approach was agreed where online filing and face to face meetings would be at the heart of the service. Soon after the year end, on the spot will carry out the work, meet the owner with draft accounts to ensure the business and its issues are clearly understood, and following approval make submissions on the same day, so reducing the number of letters and interruptions for the owner.

The company uses a qualified book keeper for his day to day accounts and tax requirements. on the spot suggested that the book keeper also prepares a trial balance, profit/loss account and balance sheet in order that on the spot's fixed fee could be agreed at £1,300 which was lower than the £1,800 previously paid. The company is paying only for the accountant's expertise and knowledge.

Not only are the accounts and tax returns submitted for that year at the same time, the owner gets face to face time with an expert and has reduced his fee. An excellent result.