Owner-managed businesses

Not all businesses are the same. Fortunately, neither are all accountants. We act for lots of differently sized, privately owned businesses – often with hands-on owner-managers – across a range of sectors.

Depending on their needs and stage of growth or maturity, our business clients take advantage of the full range of our services and expertise – including tax, accounting, audit, financial management, payroll, business help and corporate finance support.

Because we’ve been around a while and our clients have grown along the way, we’ll most likely have other clients with the same legal structure as yours – and team members with the right expertise to deal with it. A good number of our owner-managed business clients are limited companies, either limited by shares, private companies limited by guarantee or private unlimited companies. Partnerships, limited partnerships and limited liability partnerships also feature in our client base, together with a rapidly growing number of sole traders who we can now support more efficiently thanks to the advantages of cloud accounting.

We can certainly help you to decide which legal structure might best suit your business, and it’s a given that we’ll ensure you fulfil all of your financial responsibilities and meet all of the relevant filing deadlines.

Many clients come to us for our particular expertise and experience in dealing with the tax-related complexities of running and owning a business. This is an area where ignorance is certainly not bliss – both the opportunities to save tax and the potential pitfalls of getting things wrong can be substantial. Examples include:

  • planning for a tax-efficient transfer of ownership and control
  • looking for effective (and tax beneficial) ways to reward key managers and employees and encourage their loyalty to the business
  • ensuring VAT is being correctly accounted for and charged (which is much more complicated than you’d imagine for many businesses)
  • planning ahead for the VAT consequences of land and property transactions.

As trusted advisers, we find that owner-managers often rely on us for support and advice beyond the expected core services. Our team can offer help and support in dealing with issues such as:

  • balancing home life with the inevitable pressures of running a business
  • taking time out to develop the business’s strategy
  • effective delegation and control
  • moving away from ‘firefighting’ problems to a focus on developing and improving the business
  • increasing the value of the business and reducing reliance on the owner-manager
  • planning for an eventual sale or other exit route
  • bringing on the ‘next generation’ of managers
  • dealing with disputes or changes in direction and ambition from multiple owners.

To talk about how we can support your business, call Paul Lodder, Susan Seaman or Kevin Hoult on 0113 297 6789. You can also take a look at our services for family businesses and our business help section to find out about the other ways we can support your business. And, as an owner-manager – whether you’re a director, partner or sole trader, you’ll need to submit a self assessment tax return and make sure you pay the right amount of income tax and national insurance, so take a look at our services for private clients too.