• Skip to primary navigation
  • Skip to main content
  • Skip to footer

Top notice bar

Call us on 08000 388799

Avanti Tax Accountants HomepageAvanti Tax Accountants

Bookkeeping, Accountancy and Taxation services

  • Home
  • About Us
  • Our Services
    • Bookkeeping & Accountancy
    • Corporation & Personal Tax
    • Payroll & CIS
    • Company Secretarial Bureau
    • Budgeting, Forecasting & Business Valuations
    • Mentoring & Business Coaching
    • Software & Training
  • Our Accountants
  • News & Insights
  • Send An Enquiry
Home » News & Insights » Tips for SMEs – Face the Finances

Tips for SMEs – Face the Finances

Posted on 4th June 2018

Face the Finances

The last thing that you should do as a business owner is shy away from your financial position. Cashflow, if it is not monitored, can quickly drain away and leave you with a drip, rather than a river.

Unfortunately, for many business start-ups cashflow can quickly be neglected and by the time there is a problem, it is already too late.

Don’t become a cashflow casualty.

Monitor it closely and ensure that you have sufficient working capital within your business to cover your outgoings. You need to plan ahead for your outgoings, so that you are not searching the sofa when those bills come in.

Monitoring comes from up to date bookwork (showing your ‘actual’ figures) and we also recommend a 12-week rolling Cashflow Forecast, which is a great, easy way to ensure you know what is due to be paid/when and what income you need to cover this.  It allows you to see the regular costs, as well as those unexpected outgoings.

One area which is often overlooked by so many business owners is HMRC liabilities, if not handled appropriately these can quickly spiral out of control and leave you with heavy fines.

Plan for your liabilities, ensure that when business is good that you allocate finances to your upcoming liabilities. Avanti proactively inform you of your upcoming important filing dates and your liabilities, are able to provide easy to use Cashflow Forecasting tools and providing training. We don’t just do the books, we offer you advice throughout the year to help you get the most from your tax allowances.

If you find yourself in a position where you cannot pay your creditors or tax liabilities, the worst thing you can do is hide under a rock, you need to face the situation and inform the relevant parties. In some circumstances you may delay your payment or arrange a payment plan. It is better to inform prior to the deadline, than allowing it to pass.  Remember once you are fined by HMRC, the outstanding sum will accrue interest and you will now be on their radar.

If you are in a situation where cash is dripping rather than flowing, Avanti can help you turn the tap back on. Give us a call to see how we can help you (08000) 388 799

 

Share this post:

Share on TwitterShare on FacebookShare on LinkedInShare on E-mail

Filed Under: Tips for SMEs

Disclaimer:- The information contained herein is given by way of general guidance only and no action should be taken solely on the basis of the information contained herein. The Avanti Group (UK) Ltd will be pleased to provide further guidance on the issues, and how they might affect you. No liability is accepted by the firm for any action taken without seeking appropriate professional advice

Footer

Navigate

  • Find An Accountant
  • About Us
  • News & Insights
  • Privacy Policy
  • Letter Of Engagement

Our Services

  • Software & Training
  • Mentoring & Business Coaching
  • Budgeting, Forecasting & Business Valuations
  • Company Secretarial Bureau
  • Payroll & CIS
  • Corporation & Personal Tax
  • Bookkeeping & Accountancy

Get In Touch

Tel: 08000 388799
Send us an enquiry

  • Facebook
  • Instagram
  • Twitter
Copyright © 2023 Avanti Tax Accountants · All Rights Reserved
Part of The Maurice J Bushell & Co Ltd Franchise (UK) Ltd · Company Reg: 10407313 and The Avanti Group (UK) Ltd · Company Reg: 04635630 · Created by Purple Hippo
  • So we can contact you to discuss your enquiry
  • So a member of our team from your area can contact you
  • By clicking ‘Send Enquiry’ you agree to receive contact from Avanti Tax Accountants using the details given above. We respect your personal information and your privacy and will not share or sell your information to other organisations. Please read our Privacy Policy for more information.
  • This field is for validation purposes and should be left unchanged.