Outsourcing

At Shaw Gibbs, we understand that processing financial data can be a stressful and time-consuming process. Consequently, we offer a service that provides you with the peace of mind that you are on top of your company’s finances.

No two businesses are the same and for that reason we take time to understand your accounting needs and tailor our services accordingly. In addition, to ensure the best service possible, we use the highest quality systems such as Xero, Sage and QuickBooks.

As well as processing sales and purchase invoices, our service can include, but is not exclusive to, the following:

• Reconciling your bank accounts
• Sending you a breakdown of monies owed to and by your business
• Recognising fixed asset additions and posting monthly depreciation figures
• Reviewing expenditure and posting prepayments and accruals as necessary
• Making wages postings and reconciling to payments
• Preparing, reviewing and submitting the quarterly VAT returns to HMRC
• Building in a provision for Corporation Tax

At Shaw Gibbs, we advocate the preparation of periodic management accounts, as opposed to waiting until the year-end to gauge your business’s performance. Our management accounts service can assist you in making informed, timely decisions for the future of your business.

As well as the services including within bookkeeping, our management accounts service can include, but is not exclusive to, the following:

1. Providing you with a monthly or quarterly management pack, including reports detailing money owed both to and from the company
2. Reviewing distributable reserves and the ability to pay dividends where applicable
3. Reviewing expenditure to highlight any reportable benefits provided to employees, other than salary, which may need to be reported separately to HMRC

From this we can help to develop clear Key Performance Indicators for your business, as well as assisting with budgeting and cash flow forecasting. With these tools in place, you will then be placed to take control of your expenditure and prepare yourself for future stability, or indeed growth.

Due to increasing complexity surrounding payroll obligations, many businesses are simply not compliant in their payroll procedures. The ever increasing legislation surrounding Payroll can leave business owners with their heads spinning. 

Key areas we advise on include:

• Auto Enrolment
• PAYE Fulfilment
• Bacstel IP
• Payrolling Benefits in Kind
• Statutory Maternity Leave (SML)
• Construction Industry Schemes
• Real Time Information (RTI)
• Statutory Sick Pay (SSP)

Due to the complexities, short deadlines and increased penalties put forward in the Companies Act, it is important to have a team of experts in charge of your Company Secretarial duties. 

We provide flexible company secretarial assistance with services range from basic statutory compliance to advising on company law and corporate governance. We offer this service on a menu-priced basis.

Key services we provide include:

• Company Formation
• Valuation of Share classes
• File Confirmation Statement and PSC Register
• Allotment of Shares
• Change of Company Name
• Amendment of Articles of Association
• Appointment and Resignation of Directors and Shareholders
• Transfer of Shares
• Shareholders’ Agreements
• Preparation of dividend minutes and vouchers

We can assist you with your year-end (or end of period) accounts preparation, from agreeing timetables to ensuring that technical accounting standards and reporting deadlines have been met.

Our philosophy is year-end accounts should be prepared as soon after the year end as possible providing you with a finalised picture of your business’s performance and allowing you to best position your business going forward. They may also be required to support income references and meet other reporting requirements.

We aim to contact all clients two months before their period end to ensure that any tax planning opportunities arising before then can be explored, as well as agreeing timeframes for preparation.

See our Personal tax compliance page.

You need to understand your business and be able to make fast accurate decisions to seize opportunities.

Increasingly online accounting solutions are being implemented with Sage and Xero being particularly popular. However, we also provide support on the more traditional accounting software packages and can work with you to help you to choose and implement the right solution for your needs. 

One of our key advisers will spend time getting to know your business, including the systems and procedures you use. This allows us to identify the information that could help your business to grow and allows us to make recommendations.

Using the right software in the right way helps to:

• Increase profitability
• Reduce mistakes
• Identify opportunities; and
• Grow your business

We can help you to: implement your new system, import data from your old system/other sources, provide training and advise on reporting to extract the most valuable data for your business. 

Practical, straight talking advice on a whole range of employee scenarios ranging from the simpler issues such as employment policies and recruitment, through to the more complex issues such as managing underperformance, redundancies and larger change projects. 

Key services we provide include:

• Contracts of Employment and Job Descriptions
• Employee Engagement Surveys
• Manager Training
• Managing Employee Relationships
• Recruitment
• Rewards and Benefits
• Employee Handbook and Policies
• Managing Performance
• HR Administration and Projects

When setting up business in the UK, navigating the financial and HR regulative environments can be time consuming and costly. Outsourcing these functions to Shaw Gibbs will allow you to concentrate on UK growth, whilst reducing your risk and ensuring compliance.

If overseas expansion in your sights, we can advise you on the best routes by referring you to a member of our international network for in-country advice. Our DFK International membership means that wherever in the world you want to do business, we can draw on the experience of independent firms like ours, who also share our client-focused approach.

In addition to advising businesses from a financial perspective we draw on our experience to offer strategic advice to help drive growth, attract funding, reduce tax and improve profit.

Key services we provide include:

• Business Coaching
• Strategic Planning
• Improving Profits
• Succession Planning
• Problem Solving

If you are not yet ready to recruit a full-time Finance Director (FD) or, you are looking for an objective party to assist with strategic planning then our outsourced FD service is for you. 

We provide commercial and operational support for companies that need the expertise of a part-time interim FD. You will retain complete control of your business whilst drawing on our considerable experience to help you to achieve your goals. 

The issues and questions surrounding VAT are notoriously difficult. With increased legislation and regulation VAT is one of the most complex taxes you are likely to encounter.

We can prepare and submit your quarterly VAT returns for you, ensuring you are made aware of your liabilities as soon as is possible. We can also review VAT returns which are prepared by your in-house team before they are submitted.

Complex returns are reviewed by members of our specialist VAT team.

We also work with many clients where international VAT aspects may be important. When required, we work with our colleagues in DFK International, a worldwide association of independent accounting, tax and business advisory firms.