BW Insight – Business Advisory
Our business advisory service, delivers real time advice based on real time information.
We work with you to focus on the key numbers for your business. We look at them in real time and use our insight to provide regular practical advice you can act on right away. Advice that gives you firm financial control, lets you take confident business decisions, and drives business improvement.
With oversight of your digital business records and regular communication, we work together to improve cashflow management, evaluate finance options, consider funding opportunities, provide forecasts and analyse budgets. Better business performance is the goal.
Insight is tailored to you. It is dependent on the management information you need and how often you would like us to provide, analyse and review it with you, but as a guide, we offer three service levels, FOCUS, ENHANCE and VISION. The services are outlined below and our policy on costs is straightforward. We will be clear from the outset what your service includes and its monthly cost.
We work together to highlight the key numbers for your business. Those that show its financial health, flag problems ahead or identify tax planning opportunities. We produce detailed and reconciled management information in a monthly or quarterly FOCUS report.
We will analyse your FOCUS reports, and discuss them with you in person in a quarterly or monthly meeting whichever you prefer. We will explain what your numbers mean and what actions can be taken to improve your business performance.
Add forecasting your future position to the ENHANCE service to consider “what if” scenarios and understand the financial impact of decisions before you take them. We will compare actual results to forecasts too, to highlight unexpected costs and business performance, giving a vital heads up.
With your business performance secure, we encourage you to looking to your future. Talk to our specialist tax, corporate finance and pensions and investment teams about expansion, succession, structure, retirement and building and protecting your wealth for your dependents.
The reform of the VAT penalty system, which brings consistency to late payment and interest penalties and replaces the default VAT surcharge with a points based system, has been delayed until January 2023.
The headlines from the Glasgow Climate Pact and signposting to resources to help SMEs rise to the challenge.
Regular check ups on the financial health of your business, particularly on cashflow, let you spot and resolve potential problems before they become major issues.
Although the government has delayed its plans for the introduction of Making Tax Digital for ITSA (Income Tax Self-Assessment), Bates Weston urges self employed and landlords to make the move to digital record keeping sooner rather than later.
Supplies made by the hospitality industry that have been subject to a 5% VAT rate since July 2020, will become liable to 12.5% VAT between 1 October 2021 and 31 March 2022.
A recap of HMRC’s proposals to reform the penalties for late submissions to a points based system.
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