Outsourcing of Accountancy Services
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As part of the rapid development of information technology, many small businesses are finding that development has frequently outpaced knowledge. There are many areas where administrators within small businesses are unable to keep up with numerous changes and therefore are beginning to struggle to provide the level of information necessary to keep small to medium businesses running efficiently. This has led to a significant increase in the trend for outsourcing of some or all of the traditional accounting functions.
Why do businesses outsource accounting functions? There are a number of reasons why and these would include:-
Cheaper – outsourcing may enable a company to release a struggling bookkeeper and save interview time and agency fees as well as salaries of employees.
Time – outsourcing may release an owner or administrator for other functions where they can be more cost effective.
Skills Gap – the business may have a skills gap that can be solved by outsourcing.
Comfort – in knowing that an administrative function is subject to the quality controls imposed
John A Tuffin & Co offer a number of outsourcing services to clients in an ever-expanding market. These include the following:-
Book-keeping
Supplying an outsourcing service tailored to your particular business requirements. Every business has its own unique style of originating and handling accounting information and the accountant needs to be in a position to fully support this. The following packages are already supported by this firm and other packages can be considered:-
Sage – Line 50.
Quick Books.
Quicken.
TAS Accounting
Information can be easily transmitted backwards and forwards via e-mail.
Payroll
Weekly or monthly payroll services can be supplied together with automated payment regimes to suit both the client and their bank. Internet filing for year end returns.
P11D advice and support can be provided.
As a firm we can also provide advice and arrange for technical support for employee related matters including hiring and dismissing of employees as well as disciplinary matters.
VAT
Monthly or quarterly VAT Returns can be completed by us and forwarded to clients for their signature and forwarding to H M Customs and Excise. VAT support is also available for technical issues. This can of course be incorporated as part of the book-keeping services specified above.
Company Secretarial
We can provide support for maintaining registers of directors, secretaries and shareholders as well as dealing with annual returns as and when received. Full registered office services are also available. Services can also include supplying a corporate company secretary where necessary.
Staff Selection
We can assist companies in selecting staff by arranging for adverts to be placed in relevant press, reviewing CV’s and dealing with the first interviews so that owners/directors lose as little productive time as possible when taking on new staff.
This service is also useful where companies may wish to locate and select an employee in a discreet and confidential manner.
Stakeholder/Pension Administration
As the director/principal of your company do you want the responsibility of recommending an insurance company – and the criticism that may bring.
Via our Independent Financial Advisers (Harvey Curtis Associates Limited) you can have full support for your stakeholder pension decision. You may well have received a number of mailings from organisations offering advice or assistance, or suggesting you set up a scheme with them for your company. As always there is more – a lot more in this case – to the subject than first meets the eye. Stakeholder pensions are relatively simple in concept but complex in reality.
Harvey Curtis are a highly qualified and experienced firm able to develop and deliver quality solutions for your corporate financial planning needs – company pension schemes – key person insurance – employee benefit packages – life assurance and mortgages.
The areas of taxation referred to in these section are complex, and advise should always be sought in writing, before relying on any specific provisions. Please use the response form by clicking on the link "Contact Us" above, or for further advice contact one of the Partners on +44 1273 202071.
