SERVICES for CORPORATES
Management Accounting
Management accounting focuses on a business's revenues, expenses, and asset utilization. By managing this crucial function, we can detect unusual changes in revenues and expenses and communicate these variances to company management. The purpose of this analysis is to implement strategies that improve financial planning and assist managers in their decision-making.
Our services go beyond variance analysis. We can also create reports on various aspects of your business, such as cash reserves, capital budgeting assessments, and inventory accuracy percentages, among others. Additional information includes loan covenant, order backlog updates, overdue accounts receivable rates, and project profitability, all designed to enhance your company’s productivity and performance.
GB & EU VAT Returns
At RJH – Strategic Tax & Accountancy, our certified tax experts are dedicated to managing your VAT-related matters with expertise and precision. We stay updated on the latest tax laws and regulations to provide you with reliable advice tailored to your business needs, ensuring correct VAT treatments for your intricate sales and supply chains.
Our services include reviewing best practices for invoice recording, offering guidance on accurate billing, and collaborating with customs agencies and tax authorities to produce the necessary documentation. With our thorough preparation, you can expect timely VAT Returns and Filings, helping you avoid penalties and successfully reclaim VAT refunds to boost your business cash flow.
Additionally, we can arrange VAT and Indirect Tax Representatives in jurisdictions where required, managing submissions and assisting with annual obligations and audits.
Financial Accounting
Financial accounting is the practice of recording and aggregating financial transactions into financial statements, intentionally to distribute a standard set of financial information to outside users of the information, such as creditors, lenders, and investors.
When you choose to outsource this function to us, you will benefit from professionally prepared Balance sheets, income statements, cash flow statements, and statements of shareholders' equity that meet the following key aspects of financial accounting:
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Adherence to comply with rigorous standards such as GAAP or IFRS, ensuring consistency, reliability, and comparability across financial reports.
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Historical focus that is primarily concerned with recording past transactions and providing a historical perspective on your company's financial activities.
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The emphasis on objective, verifiable data for accuracy and reduce subjectivity which provides confidence to external stakeholders that the financial reports are trustworthy and based on actual performance.
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Helps companies comply with legal and regulatory requirements which is often legally mandated, especially for publicly traded companies
R&D Tax Credits
Businesses investing in projects aimed at innovating and developing new processes, products, or services to advance science or technology may qualify for R&D tax relief. We can assist you in identifying eligible R&D expenditures and enhancing your chances of receiving tax relief. Qualifying costs for R&D tax incentives include::
* Costs for employees involved in the projects
* Software used in the R&D
* Consumable items
* Contracted out R&D costs* (65%)
* Externally provided workers (subject to restriction)
Corporate Tax
The corporation tax in the United Kingdom plays a vital role in its fiscal policy, impacting businesses of every size. It is crucial for companies to grasp the intricacies of corporation tax to ensure compliance and enhance their tax strategies.
This tax is imposed on the profits of UK-based companies as well as foreign companies with branches or offices in the UK. It encompasses a company's trading profits, investments, and capital gains. For the 2023/2024 tax year, the corporation tax rate is set at 25%, which marks a notable increase from the previous rate of 19%.
Nevertheless, this rate varies among businesses. The government has established a Small Profits Rate (SPR) and a main rate that influence companies differently based on their size and profitability. Our goal is to assist corporations in understanding the variations in corporation tax rates and regulations for small, medium, and large enterprises, which is essential for effective financial planning and compliance.
Payroll & HR
Managing payroll can be a significant distraction for Business Owners and Directors due to the complexities of tax, National Insurance, pensions maternity and paternity pay, and student loans. We can take this burden off your shoulders by offering a thorough and confidential payroll package that includes:
* RTI Reporting
* CIS Returns
* Customised payslips
Administration of PAYE, National Insurance, Statutory Sick Pay, Statutory Maternity Pay, etc
* Completion of statutory forms, including year end returns, to issue to your employees and submit to HMRC
* Summaries and analyses of staff costs
* Administration of incentive schemes, bonuses, and ex-gratia and termination payments.
Cash Flow Management
Cash flow is the lifeblood of any successful enterprise, crucial for driving and mitigating risks. With effective cash flow management, you can confidently navigate both short and long-term uncertainties. By partnering with us, you will receive crucial guidance to maintain your financial health through:
* Creating a cash flow forecast for your business or assisting you in developing one independently.
* Evaluating your current financial forecast and offering insights on your plans as well as the assumptions that underpin your forecast.
* Suggesting key actions that will enhance the future of your business based on the anticipated cash flow situation.
Outsourced Finance Roles
( Inside or Outside IR35)
Finance Director
Our Finance Directors will operate at the executive level within your company, guiding long-term financial strategies for its future. Their responsibilities encompass analysing departmental finances, developing your company budget, and ensuring overall financial health and stability.
Our Finance Director have the necessary expertise and knowledge to effectively execute high-level financial decisions. Key tasks include:
* Utilizing financial modelling to explore potential scenarios
* Conducting financial analyses to forecast the company’s financial health
* Monitoring expenditures and formulating budgets
* Preparing reports for investors
* Identifying cost-saving measures and strategies to enhance profits
* Collaborating with management on funding strategies
* Ensuring compliance with national and international financial regulations
* Supervising the company’s payroll and bookkeeping systems
Finance Controller
Our Finance Controller will oversee your organization's financial operations, ensuring precise reporting and adherence to regulations. This position includes managing budgets, predicting financial outcomes, and analysing data to deliver strategic insights.
The Finance Controller will lead a team of finance experts and work with various departments to improve financial efficiency and foster business growth.
Our qualified professionals are highly competent with many years working in senior finance role with strong analytical abilities, meticulous attention to detail, and crucially experience in financial management.
Finance Manager
Our Finance Manager will oversee your organization's financial health. Key responsibilities include preparing financial reports, managing budgets, and creating financial strategies for growth.
Our part-qualified or fully qualified professional will work with different departments to ensure precise financial planning and analysis while leading the finance team to provide guidance and support in achieving departmental objectives