T 0191 378 0308 | E switch@switchaccountants.co.uk | A Offices in Newcastle, Durham and Tees Valley







How We Help

As a leading accountancy practice, of course we can take care of all of your accounting needs and ensure that you pay as little tax as legally possible.

But just as importantly, we take a genuinely practical, hands-on approach to helping your business – be that to overcome business problems, to help take your business to the next level or simply being an impartial sounding board.

Below we have summarised our accounts, tax and support services and then our business growth and development services. Simply press the ‘add’ button to read more about each service.

Please note that while we always provide a combination of accountancy and growth services to every client (as you need both) as part of a fixed fee package, we have split these services into two below for your ease of reading and navigation.

Accounts, Tax & Support Services

Year End Accounts & Tax Returns

To a large extent, at a basic level this service does what it says on the tin: we will prepare and submit your year end accounts and submit these to the relevant agencies.

We prepare year end accounts for sole traders, partnerships and limited companies and for clients across a very wide range of sectors.

We can also prepare your tax return and process your tax planning to ensure that you pay as little tax as is legally possible in relation to the year end accounts we are preparing.

However, what is not standard is the extra services we offer to all clients as part of their year end accounts package. This of course includes our 10 Point Service Guarantee, but also includes the following activities:

  • You will have an initial pre-accounts consultation in which the year’s trading will be discussed and we will focus on identifying and solving problem areas, business opportunities and tax planning/ mitigation
  • During this meeting with your accountant, you will complete a business healthcheck looking specifically for profit-increasing ideas and tax planning opportunities
  • Next we will turn around your accounts within 30 days (all you have to do is ensure that you provide all of the relevant paperwork for us to process the accounts), querying anything with you to ensure that your accounts are as accurate as possible
  • We’ll design a bespoke tax plan for you – which will be reviewed annually – to ensure that your tax bill is as small as it legally can be
  • Once the accounts are completed, you will have a business development consultation with your accountant. We’ll explain the accounts in plain language and we’ll focus on solving issues raised in the initial meeting. We’ll give you as much business development advice as possible. In this meeting, you can ask us to help you with any business problems or you can pick our brains about a new business opportunity.
  • It doesn’t stop there. You will have unlimited free access to our Business Helpline throughout the year and have access to your accountant via telephone, e-mail or meetings. You’ll also have access to over two hundred business guides and templates we have on the most popular financial, business and tax issues.

To this package many clients add support services, such as payroll, VAT or reporting and/or business growth programmes, as summarised elsewhere on this website.

Our Payroll Package

We know that ‘the payroll’ often causes regular headaches for business owners and accounting staff alike.

Not only do you have to do the payroll run every week or month, but there are monthly P32s to produce, and holiday pay to calculate. Plus the other occasional issues, such as maternity (and paternity) and sickness pay.

Then you’ve got to complete the actual transactions – which can take (or waste) hours if employees haven’t provided the right information and so on…

Plus the dreaded payroll year end, which many people find a frustrating challenge from start to finish. This process of course includes the production of P35s, P60s, P14s, and potentially P11Ds and NIC Class 1As. What a nightmare!

We can remove all of these stress and strains from you – freeing you up to focus on running your business.

For a very cost-effective investment, we offer a complete payroll service for staff portfolios of any size, in which we take care of all the necessaries.

Let Us Take Care Of Your Payroll…

  • You fill in a simple one-page form, which we provide, and fax, e-mail, phone, post or text it to us
  • We do all the payroll ‘stuff’, and send you a list of employee names and the net payment to be made to each employee. We’ll also send your employees a payslip, and P45s/ P60s etc as appropriate.
  • We let you know, via e-mail, phone or text your monthly PAYE/NI payments to be made.
  • We provide a free Payroll Helpline for all your queries e.g. sickness pay/ maternity pay entitlement and minimum wage levels.
  • We complete the payroll year end.
  • We take care of all the paperwork, forms and returns. If you haven’t already got a payroll scheme, we can set this up for you – hassle free.
  • ALL this means you can relax safe in the knowledge that an expert is taking care of your payroll – saving you time, stress and effort while at the same time ensuring that your payroll is being done properly and is complying with HR law.

And The Benefits To You

  • You’ll have more time to focus on running your business
  • Reduce your stress levels as you’re not having to worry about all things payroll related
  • Security that you’re doing your payroll correctly and are comply with HR Law
  • Save hundreds of pounds on expensive and complicated payroll software/ updates

What’s more, all of this can be completed for you by our expert team in a cost and time effective manner, and easily added to your accounts package with us, all for a fixed fee.

VAT and Bookkeeping

Let us take away the time-consuming hassle, stress and worry of bookkeeping and VAT returns, and free yourself up to run your business!

Our standard VAT and Bookkeeping package includes the following services:

  • You simply send us all of your financial records (invoices, statements etc) each week, month or quarter
  • We keep the books and reconcile the bank account, guaranteeing 100% accuracy
  • If necessary, we make your VAT returns and do your payroll
  • We then send you a two-page of graphs reporting all the key facts e.g. your sales and purchases, and exact profit, to the nearest penny
  • We can also e.g. chase overdue invoices; provide a regular list of supplier accounts due; provide year-to-date summaries of turnover, profits, sales/ expenditure and tax due; provide Key Actions Reports with invaluable suggestions from our experts, hold regular telephone/ meeting consultations focused on helping you to overcome problems or exploit opportunities.

 

Why Delegate It?

As the pace of business life seems to ever increase, many business owners simply don’t have the time or energy to keep accurate financial records. With 101 other things to think about, often ‘doing the books’ falls to the bottom of the seemingly endless ‘to do’ list. And then, at the worst possible time, there’s a huge panic because the dreaded VAT Return is due for filing tomorrow…

That’s why we provide a bookkeeping package – to help relive you of these pressures. The service, in essence, is very simple: you send us (or we’ll send a courier to collect) your financial records every quarter, month or week. And we do the rest…

By doing the rest, we mean that we’ll book on all your sales and purchase ledgers and reconcile your bank account. We’ll file your VAT returns and complete your payroll (including payroll year end) if you have staff.

We can also do a bit more for you if you need us to – like chasing overdue invoices (credit control) or we can provide a weekly or monthly list of supplier payments due. We can even make the payments (including wages) for you if you need us to.

So basically we do all the boring financial paper work…. and meanwhile, this frees you up to do what you do best: running your business!

What’s more, we don’t just do the books and ensure you’re compliant with all the relevant financial regulations.

No, once we’ve done the accounts we’ll send you a two-page graph-format financial report that summaries what money’s come in and gone out, and the exact profit made.

So you know exactly, to the nearest penny, how well your business is doing. You’re in TOTAL control.

And being in total control is vital in today’s business world. Two of the biggest problems facing businesses today is either a lack of sales or overspending, or both combined.

These issues, with the right advice and help, can be very easily overcome in the vast majority of cases. But there’s no major problem – the business owner didn’t know about the lack of sales or increase in costs until the year end, after 12-months of under-selling and/or over-spending.

Ask yourself this – would you rather have known after one month or twelve months? What outcome would be best for your business: knowing about it and doing something about it after one month, or letting it build up for 12-months, making it much more difficult to fix?

Advanced Tax Planning

We’ll cut to the chase – we know that one of the key reasons that people use an accountant is to reduce their tax bill.

For this reason, we take tax planning very seriously and we will work with you to minimise your tax bill. We know how hard you work to make good profits – and naturally you don’t really like giving it away to the taxman!

We work within the ever-changing taxation framework to ensure that your tax liability is as small as it legally can be.

And if you are a high earner (pre tax profits of at least £100,000 per year), then there is sufficient scope for us to apply some very advanced tax planning schemes which can include offshore activities, different types of trusts and group and inter-trading structures.

Now, most accountants will tell you that they will reduce your tax bill and engage in tax planning. However, ask yourself how much tax is your existing accountant really saving you? How advanced is your tax planning? It is just all of the basic tax saving activities – or is your accountant engaging in more advanced tax planning?

We know, it’s hard to tell – how would you know if your accountant is missing tax saving opportunities? How would you know if you are paying hundreds or thousands of pounds in unnecessary taxes?

Of course, if you don’t even have a current tax plan, the chances are you’re not optimising your tax planning!

But let us help you. If you’d like to know just how much tax you could be saving, contact one of the team to see how much you may be able to save; in which we’ll review your existing tax plan and how effective this is. If we think there are ways we can reduce your tax bill, we’ll show you exactly how!

Online Accounting Services

So you want to join the online accounting revolution?

Not everybody wants or needs a local accountant. And thanks to the advent of the internet, it’s never been easier to use an online accountant.

Through our Switch Online system we are now providing our renowned value-adding services to new clients from Jersey to Japan just as we do for those in Jesmond and Jarrow.

So how does it work? The Switch Online system really is a hassle-free service. It’s so so simple…

  • Step 1 – You collect all of your financial documents together (if in doubt, throw it all in and we’ll sort through it all for you)
  • Step 2 – You either post via our mail-bags or we send a courier to collect these documents
  • Step 3 – We do the rest. You don’t have to worry about anything else. We’ll send reminders or queries via e-mail, text or telephone – whatever suits you best.

Please note that some of our clients opt for a 100% e-mail only service; meaning that you are never disturbed from ‘the day job’ and you can deal with accounts in your own time at your own convenience. It’s that easier, there’s nothing more to say… we’ll just do that.

 

So Why Go Online?

  • A cost-effective and hassle-free service, freeing you up to focus on actually running your business
  • A system that allows you to forget about all of your financial and tax obligations – knowing that somebody is taking care of it all for you
  • A service that allows you to just throw all of your documents into a ready-made postal bag and never worry about it again
  • An entirely flexible accountant who will never bother you if you don’t want them to – but who is available throughout the year via telephone or e-mail to offer any advice, as and when it’s needed. You choose.

 

Online Accounting Packages

We can provide a number of accountancy services via Switch Online. Our most popular package is our Switch Compliance package which combines monthly bookkeeping and Year End Accounts, plus VAT Return and Payroll where applicable. The services we provide via Switch Online include:

  • Switch Compliance (we do monthly book-keeping, VAT Returns and Payroll where applicable)
  • Book-keeping – either monthly or quarterly
  • Year End Accounts – for Limited Companies, Sole Traders and Partnerships
  • VAT Returns
  • Payroll services
  • Credit control services – chasing overdue invoices and/ or getting invoices paid on time every time
  • Supplier accounts – we can pay suppliers or tell you which suppliers need paying in a One Page report
  • Business Advice – reports and reviews as and when you need them, on topics of concern
  • If you have further requirements, talk to us as we can probably help you here too
  • FREE access to Switch Business Helpline for all online clients, meaning you can call or e-mail us free of charge throughout the year for help and advice regarding business, accounts, tax and marketing.

If you are ready for the revolution, contact one of the team today to discuss your requirements.

 

Business Development & Growth Services

 

Bespoke Consultancy & Advisory

What impact would working 1-2-1 with a business growth expert with a proven track record of success do for your business?

Most successful business owners recognise the importance of expert advisory and consultancy. In fact, every single major business seeks external expert advice and support to help with business growth. Expert advisory can range from simple budgeting and forecasting to strategic development and profitability analyses. Of course, at this level of complexity and specificity, all projects are entirely tailor-made and bespoke. We listen very carefully to you, determining a brief based on your exact requirements, which allows us to produce the precise outcomes and outputs you were searching for; adding only the highest possible value to your business.

Below we have detailed just a few examples of the types of consultancy and advisory projects we do with our clients.

 

Profitability Analysis

Are some of your customers costing you money? You might be surprised to learn that a recent study by Harvard Business School found that 15% of all customers are unprofitable.

Moreover, around 20% of customers are responsible for 80% of a company’s profits. And worse still, on average the unprofitable customers cause more problems, make more complaints, take up more management time and have less loyalty. In turn, this means that you have precious little time left to focus on keeping your profitable clients happy. And it should be the other way around; but this is a very common story for a great many businesses today.

So, how do you determine what are your most (and least) profitable customers, products and services? And more importantly, what do you do once you do know?

With our Profitability Analysis, we’ll establish which customers make you the most profit – and the business owners we work with are very often surprised to learn which clients are actually profitable and which aren’t. It’s often counter intuitive and key facts can be lost in the detail.

Once we know, we’ll help you to gear your business around these high-value clients; identifying ways to keep these clients happy, build customer loyalty, increase average spend and increase the frequency of spend. Moreover, we’ll show you how to attract more clients just like these – imagine the impact having twice as many of this high-value clients would have?

Using our system, your business is focused on the 20% who make you the vast majority of your profit. That’s exactly how a business should run.

What’s more, we’ll also show you how to turn the unprofitable clients into profit over the short- to medium-term, using a series of proven management and accounting techniques.

If you’re unsure if a profitability analysis is right for you, a few quick questions to ask yourself are:

  • Who are my three most profitable clients, and how do I attract three more new clients just like these in the next quarter? Of course, your most profitable client isn’t always the client which contributes the most to your turnover. In fact, in many cases, the highest contributors are often barely or unprofitable, especially in the production sectors (ask us and we’ll explain why this is)
  • And who are my three least profitable clients, and how to do I turn these around into profitable clients in the next couple of quarters?

 

Sales & Pricing Analysis

Statistics show that less than 10% of businesses have up-to-date, accurate sales figures. But such information is critical to a business owner – sales are the lifeblood of your business. You must know on a regular basis – ideally either weekly or monthly – what sales have (or haven’t) been made, allowing you to stay in total control.

What’s more, it’s vital to know your net margins – that is to say, after all costs have been taken into consideration, how much profit do you make on each product, service or client type. It will most likely vary from each product, service or client. And as so many businesses have variable pricing, often used to clinch the deal, this information is even more important. What if the big discount you gave to clinch that big deal is actually costing your money?

Surely it would be better to know your break-even point on all products and services – so you know exactly how much of a discount you can give before you stop making money. You see, if you don’t know exactly how many sales you need to make each month to break even, or at what price you need to sell to make a profit, then your sales and pricing becomes a guessing game.

This might sound complex – and that’s why most business owners shy away from having a clear sales and pricing strategy. However, without it – well, we’re back to the guessing game. And do you want to leave your business success down to a guess?

We can work with you and very quickly and easily determine how much profit you make per product or service. We can show you the different potential price brackets and what this does to your bottom line. So this way, you know exactly how many products you need to sell, and at what price, to make your sales target for that month.

We’ll produce these figures and present them on a single page of A4 – sometimes half a page. This way, you have arguably the most important piece of information – how much profit you will really make with each sale – with you at every sales meeting, ensuring that you never sell at a loss again, but instead ensure that you get maximum profit out of every sale.

 

Budgeting & Forecasting

The road to a solid, sustainable and highly profitable business starts with budgeting and forecasting. However, while most of us appreciate the importance of budgeting and forecasting, we just don’t quite know how to conduct such tasks. Yes, we know the basics, but for some reason our budgets and forecasts always seem to be inaccurate, sometimes alarmingly so.

That’s where we can help you. But unlike most accountants, we won’t try and bamboozle you with accounting jargon. No, we’re hands-on, practical and we come with solutions. We don’t try and confuse you by asking if you’d rather activity-based accounting or whole-based costing; and what are your views on opportunity costing?

Instead, we take the time to really get to know you and your business – and from these solid foundations we produce budgets and forecasts and present this in a language and style that you understanding. We take the time to explain things to you. And we’ll work with you on either a quarterly or monthly basis to review progress and update the forecasts; all for one fixed investment.

This way, you know exactly where you are up to – and if there are any problems, you can overcome these straight away. Ask yourself, when do you want to know about a problem in your business – after one month, when you have time to correct it, or after 12 months, when it’s become a systemic problem? And what about opportunities – do you want to identify these early and beat your competitors, or await 12 months to discover an opportunity missed?

Contact one of the team today to discuss your needs and we can determine the best possible approach for your business.

Virtual Finance Director

An effective and value-adding finance department – led by a dynamic Finance Director – is a powerful competitive advantage in today’s business world…

Is your finance department/ director providing you with a competitive advantage; giving you an edge over our competitors? Or if you don’t have a finance department/ director, would you like to gain such this edge?

If you haven’t already got a finance department/ director, our outsource solution will help you to develop your business and grow your profits through strategic accounting, while also taking care of your financial matters, both operational and compliance issues.

If you do have an existing department/director, in a great many cases our solution can add significantly more value to your business while invariably costing you less.
We know that replacing an internal department with an external solution is a major business decision – but a decision worth making? We can work with you to plan and implement this change, phasing out staffing within an agreed timescale, without any disruption to business services.

How does the solution work? Each solution is tailor-made, designed to suit your exact business requirements, but in essence all of our solutions work in three levels…

 

Level One – Your Own Finance Department

In essence, the first level means that you will never have to worry about financial administration or management again.

All you have to do is collect your financial documents – and then send these to us (or we’ll send a courier to collect) every day, week or month. We’ll do the rest from our end.

We will do all of your bookkeeping and record keeping, manage your payroll, complete your VAT returns and such like. We can make supplier and other payments or produce a list of supplier/ other payments due for you to pay your end. We can also produce your invoices and provide credit control services. Equally we can administer purchase/ sale order procedures and provide the necessary liaison between relevant departments/staff. We can help you with any other financial aspects should you like us to.

We will produce financial reports in terms of sales/ purchases etc on a daily, weekly or month basis – sent to the relevant individual/ department in an agreed format.

Where necessary, we can provide a bespoke telephone line for your company (your finance department number) for use by suppliers and staff. You will have a single dedicated contact for operational, compliance and payroll issues – who will be available throughout the day to respond to queries and provide information.

 

Level Two – Finance Department With Accounts & Your Own Tax Plan

As part of the solution, we will prepare your year-end statutory accounts and tax returns. We will also create a bespoke tax plan for you, which means that we will closely monitor the director(s) remuneration to ensure the most optimal method of profit extraction is followed. The aim here is to maximise your business and personal wealth – allowing you to keep more of what you make.

 

Level Three – Your Own Finance Director

You will have your own dedicated Finance Director, who will manage your finance department but more importantly be available to provide expert analysis and invaluable input into your business.

You will meet with your Finance Director for regular business growth consultations, which are designed to be at Board level – giving you all the benefits of a Finance Director, just at a fraction of the price.

These sessions will focus mainly on developing your business, working on a number of areas in which to make improvements, overcome problems and exploit opportunities. Just some of the topics covered might be strategies relating to: your product range/ services, your client base, your team, your costs, your pricing, your volume of sales, new business opportunities, your 80/20, marketing activities, and so on.

During the consultations, your Finance Director and you will also review developments and changes in the business. Each meeting will be assisted by a management accounts report, including bespoke reports such as bench-marking, key performance indicators and forecasting.

The first stage once you start working with your Finance Director is to hold a half- or full-day company alignment session, in which we map out the company’s short-, medium- and long-term goals and plot the course from here to achieving these goals.

Of course, your Director and their team will always be available for ad hoc meetings, telephone calls or e-mails, should you ever need to discuss a matter with them, however big or small.

If you would like meet us to discuss what we can offer to you and your company, contact us via the form at the bottom of the page.

Benefits of Level One – Your Own Finance Department

  • We take care of all financial activities such as (where necessary) bookkeeping, payroll, VAT returns, invoicing, credit control, purchase/ sales orders, supplier payments. Includes a dedicated contact for any queries or information requests. We can also set up a dedicated finance department phone line for your company.

Benefits of Level Two – Finance Department With Accounts & Your Own Tax Plan

  • We will prepare and complete the year end accounts and more importantly provide a bespoke tax plan aimed meaning that you will pay as little tax as is legally necessary.

Benefits of Level Three – Your Own Finance Director

  • You will have your own dedicated Finance Director with whom you will meet regularly for consultations, with business development and growth at its core. The consultations will also include the review of key financial updates, review of goals and progress, focus on key topics as and when they surface, plus a monthly management accounts report will be produced.

 

How We’ll Help You

Below we summarise our approach to clients who take up this service.

  • Before we do anything, we’ll first take the time to listen to you and learn about your business – your ambitious, your ideas, your frustrations and your problems. The more we know about you and your business, the more we can help you.
  • We’ll then use our professional expertise and hard-earned, real-world business experience to focus on proactively growing your business by exploiting opportunities and overcoming problems; offering practical strategies and down-to-earth solutions to achieve continuous, sustainable business growth.
  • We follow our unique and proven, 6 step business growth system (find out more about this system here on the Business DNATM system page). This system means we can give you tried and tested strategies for getting more sales, more customers, more cash and more profit into your business. The system helps you to develop a robust cash flow and credit control system and put in place practical business systems and winning business teams.
  • We’re known for being extremely positive, supportive and enthusiastic – but we’re also realistic and plain-speaking, meaning that we’ll tell you the truth, not just what you want to hear. If you want us to, we can give you a bit of a kick in the right direction every now and then, to keep you on track (we know sometimes that you’ve got all the right ideas, you just need some help keeping focused and motivated)
  • We’ll roll up our sleeves and work with you to deliver the ideas and solutions that we develop together. We’re very confident in the advice we give and we’ll work with you in the long-term to make it happen.
  • We’ll optimise your tax planning and thus reduce your tax bill by as much as is legally possible. We’ll provide a free tax review EVERY year by a tax expert to ensure we optimise your tax planning.
  • We’ll give you a set of accounts that you actually understand and that add real value to your business. We can take away any of the painful, worrying or time-consuming (or just boring) accounting tasks such as book-keeping and payroll so that you can focus on what you do best; running your business.
  • We’ll give you a dynamic, confident and plain-speaking accountant who takes a genuine interest in you and your business. Your accountant will be accessible, approachable and available to help and support you throughout the year; not just once a year.

Ask yourself, are you ready to take your business to the next level?

Business Growth Boardroom

Join us in the Boardroom and start building a more Profitable, Sustainable & Scalable business today with our specialist business growth accountants!

Over 12 months in the Boardroom, you’ll work with a strictly limited group of 10 fellow ambitious business owners with one simple focus – to build a bigger, better and stronger business.

Your business growth accountants Clare Thompson and Damon Millar will take you on a business growth journey – during which you’ll discover and implement our unique 12 Business Growth Strategies into your business.

You can read more about the strategies covered on our Business DNA System page – but in essence you’ll learn everything you need to know to run a bigger, better business…

Everything from developing the right products for the right target markets at the right price through to online and offline business growth campaigns and not forgetting the discovery and application of a system-run business that will operate on auto-pilot without you.

Most clients combine this service with the Accounting, Tax & Support Services – and the very ambitious combine it with the Private Boardroom Experience (if invited and dependent on any waiting list restrictions).

To see how these strategies could benefit your business, speak to one of the team or why not read one of our books or join us at one of our upcoming Seminars or Webinars.

The Private Boardroom Experience

Only for the most ambitious of business owners and strictly by invitation only, this service super-charges your business growth and takes the strategies you’ll learn in the Boardroom (above) onto a whole new level.

The service works by combining your regular Business Growth Boardroom sessions with private monthly sessions with your chosen Business Growth Accountant.

These 12 full-days of private 1-2-1 support are in addition to your 12 full days in the Business Growth Boardroom. A potent combination.

Working 1-2-1, your Business Growth Accountant will take the strategies you’ve learnt in the Boardroom and work with you to tailor and implement these into your own business, taking account of your unique circumstances and individual needs.

This really is a premium service that delivers incredible results. It can only be made available to a select few clients at any one time, due to the obvious scarcity of places.

For this reason, this service operates on an invitation only basis and there is currently a waiting list.

Management Accounts

Knowledge is power. Therefore it is essential that you, as the leader of the business, have all the important knowledge and information about your business available. Because without this information you lack power; power that is invaluable to improving your business.

For this reason, we can prepare management reports for you that provide as much information as is appropriate and useful to you. This may be reported daily, weekly, monthly or quarterly.

This can also be offered as a stand alone service or as part of one of our other services.

However, while knowledge is power, this power is only realised when you put it to good use.

That’s why we have developed a unique Scoreboard that gives you all of this precious information about your business. Best of all, we ‘plug this in’ to your business and conduct the analysis for you – meaning that you don’t have to worry about doing it – providing the scoreboard in a one page summary.

This affords you priceless information both in terms of what you are doing right, and how you could push home this advantage, and what you are doing wrong, and how to reverse your fortunes. Crucially, we will give you concrete, tailored recommendations for improvement; not merely a scoreboard.

Finally, another part of the Scoreboard is a Competition Tracker, allowing you to compare yourself against other businesses in your sector. Use this information to build on strengths, overcome weaknesses, exploit opportunities and defend against potential threats.

To see how this will work for your business, contact one of the team today and discuss your specific needs.

 

How To Find Out More

If you would like to discuss anything you have read on this page or if you would like to discuss how we can help you and your business, then please get in touch.

You can do this by completing the form below (scroll down to the end of the page and look on the right hand side), calling us during office hours on 0845 658 6949 or sending an e-mail to switch@switchaccountants.co.uk





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