Our clients receive a quarterly email reminding them of important dates and events. This is not a newsletter and does not contain any marketing material.
The contents of the email received by our clients are tailored to their circumstances. In summary, the email will cover the following points:
- Business details that we hold. This will include basic contact and financial information.
- Exact status of the last two years annual accounts. Each set of accounts may be completed, awaiting client approval, in progress at our office or awaiting submission of records. Where accounts have been completed and filed, the filing dates will be shown.
- Exact status of all VAT returns and Payroll records for the business current year and previous year. This will include amounts payable or paid to HMRC.
- Financial review based on the latest data that we hold. If you are a sole trader this will cover profitability and your financial position. If you have budgets then comparisons will be made. Limited company clients will be updated with the exact position regarding salaries and dividends.
- Details of all known tax liabilities. This will include, as appropriate, self assessment; tax on dividends; tax on benefits in kind; IR35 deemed payment tax; letting and other investment income tax; and corporation tax. For each item the amounts, dates and reasons for the liability will be shown. Where an amount is based on a projection, this will be clearly stated along with the basis of the projection.
- Exact details of your account with Green Accountancy.
- Any web links that we think may be useful relating to legislation changes, business matters and environmental issues.
Reasons for the quarterly email
We have found one of the most common problems small business owners face with regards to accountancy and taxation is lack of forewarning. By reminding you quarterly of the tax liabilities arising over the next two years or so you will be able to plan properly and know exactly where you stand.
Similarly there is no reason to be in the dark regarding your accountancy fees. You will always know the exact position as your payment and invoice history is shown as a monthly statement on the email.
Whilst many accountants provide this information either on an ad-hoc basis or annually, our simple and regular quarterly email will ensure you are always aware of your financial and taxation position.