Bishop Fleming’s Corporate and Business Services team has the knowledge and expertise to help you plan for success. We work with companies of all sizes, specialising in family and owner-managed businesses. In fact, many of our advisers have practical experience of managing small companies, prior to working with us at Bishop Fleming.
We believe the key to successful partnerships with our clients is building good relationships, which enables us to fully understand your plans and goals.
Many of our clients find that they are just too busy running their business to focus on the finances. Our priority is therefore putting your figures into perspective to help you get the best out of your business. We provide you with the knowledge and assistance you need to fulfill your legal requirements in preparing and filing your annual accounts and tax returns with the relevant authorities. In addition, our experienced team can provide focused business and tax planning advice and management accounts to help you plan and manage your business for success.
Whether you are looking for an accountant to simply do your accounts, file your tax return or to provide bespoke advice to help you grow your business, you can be sure that we can provide a service that adds value.
In delivering our services, we understand the importance of getting the job done and explaining it simply. We:
With the ever changing regulatory framework and new financial reporting standards being introduced, keeping up with the reporting requirements for your accounts can be time consuming and taxing.
Whether your business requires its financial statements to be prepared under UK GAAP, International Financial Reporting Standards (IFRS) or for charities and academies, the Statement of Recommended Practice (SORP), we have experienced advisers who can assist you in preparing your accounts in line with the latest disclosure requirements. More than simply ‘accounts preparation’ we can also help you make informed business and personal decisions by putting the figures into perspective to help you fully understand and get the best out of your business. Our specialist advisers can explain:
Whether you are just starting to dip your toes into international waters, or you already have a mature global presence, there are numerous complex issues which need to be considered, including:
Whatever the issue, Bishop Fleming has substantial knowledge and experience of advising on international trade issues. We have many international clients that rely on us to ensure that they not only remain compliant with regulations, but are also made aware of the numerous planning opportunities available.
With Bishop Fleming as your advisers, you can deal internationally in confidence without it being a big deal.
VAT is a major concern. It’s a complex area, so it’s essential to have an adviser on board who can quickly identify any VAT issues that may be on the horizon and to point out ways of mitigating the tax.
The VAT rules are different for the supply of goods or services and will also vary dependent on the nature and location of the customer. With Bishop Fleming, you can focus on building your business in the knowledge that the VAT issues are covered.
Issues which can have an effect on exports include geography, the nature of the customer, the level of customs duties, currency conversion, local regulations, etc. The regimes are different for the European Union and for the rest of the world.
It’s vital to be alert to the planning opportunities, as well as being aware of the pitfalls such as withholding tax.
Goods and Services
The supply of goods or services each has its own risks and regulations.
With goods, there are issues for example to do with physical stocks, customs duties, warehousing, shipping, documentation, dependent agents, overseas stores, withholding taxes, etc. There could also be an issue with whether you have created a permanent establishment in another country for tax purposes.
With services, there can be issues for example with the place of supply (and the January 2015 changes to the digital economy), warranties and maintenance.
You may also need advice on the Transfer Pricing rules which oblige you to apply arm’s length principles to the calculation of profits. There are exemptions which depend on the size of the company.
We have considerable expertise in international tax and we have access to a worldwide Kreston network of contacts with whom we liaise. There is more information on our International Tax Page.
Having everything under one roof can save time and money which is why Bishop Fleming offer a comprehensive range of outsourced services to support you with the accounting, financial and operational needs of your business.
We know that time is precious and running your business is your top priority. That is why outsourcing some of your financial and operational tasks to us gives you more time to do what you do best. By becoming part of your finance team we can provide a flexible resource that provides tailored services to match your exact business needs.
Statutory accounts preparation
For many clients this is the core of what we do. However, we have an increasing number of our clients for whom we provide statutory accounts preparation and corporation tax return services under the direction of their own finance team.
Having up to date management and financial information for your business is critical. Management accounts provide a valuable tool for monitoring your business’ financial performance. We have a wealth of experience in creating such reports and making recommendations based on what has worked for similar businesses. Our cloud based online outsourced accounting service provides access to your accounts and financial information in real time, anywhere and at any time.
Business bookkeeping and compliance
No matter what size your business is, we can ensure you are meeting your bookkeeping needs and ensure that you are meeting your tax and VAT obligations. Be reassured that your bookkeeping is being handled by experts who will ensure that you never miss a deadline.
We have a dedicated payroll team who have over 30 years experience in providing payroll services throughout the UK. We conduct payrolls of employee headcounts from 1 to more than 800 staff and so whatever the size, stage or type of organisation you operate, our team can provide a tailored service.
We can provide a full company secretarial package to ensure that your statutory records are up to date. We can deal with everything from company formations, annual returns, changes in name or year end, director amendments to share transfers or share restructuring.
Should you wish, you can take this support to a higher level and involve one of our trusted advisers in a more strategic role.
We’ve tried and tested many business accounting systems packages and we’re here to help you decide which will work best for you.
If you’re choosing an accounting system for the first time or upgrading, we offer a variety of products that will make account keeping as straightforward as possible. We’re a Sage Accredited Business Partner and we can suggest products from the entire Sage 50 range which covers Sage Instant Accounts up to Sage 50 Professional.
We also work with the cloud based Xero accounting software as one of their official partners.