Accountancy & Business Support for. Professional Service Firms
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1 Accountancy & Business Support for Professional Service Firms
2 Eacotts fundamental aim is to use its expertise in growing businesses, finance and taxation to help clients create, build and retain as much wealth as possible, whilst at the same time ensuring they comply with all relevant accounting and taxation regulations.
3 A business partner to help you deliver a professional service to your clients Running a professional practice today in the legal, property, engineering or similar service sector has its unique challenges. Your firm wants to focus on delivering the best professional service to your clients but you also need to ensure your business is run profitably, efficiently and in a tax-effective manner. The distinct legal nature of partnerships and professional service firms creates a number of fundamental issues which it is vital to understand well and factor in carefully when managing and developing your business. structure, and robust arrangements for succession planning and transferring or selling shares. On the financial front, planning the right financial framework and ensuring tax compliance call for expert attention. Know-how is also needed to profit from opportunities to structure your affairs to minimise tax liabilities and optimise the value of your business. You will also want to ensure your staff are not distracted with routine business administration. You ll welcome outside expert support on areas like payroll and personnel management. Accountancy & Business Support To secure a successful future for your practice, it is important to have a range of strategic building blocks in place like a rigorous partnership agreement, a well-designed management You need an experienced business support partner to complement your own management team. A professional firm like your own. Welcome to Eacotts 3
4 Strategic management support for your practice Many business owners spend too much time working in the business and not enough time working on the business looking at how it is structured, where it is going and how it is going to develop. Eacotts offer a consultancy service provided directly by experienced partners who, like you, are running a practice to help you look at your practice, develop the right structures and shape the right path for increased profitability and future growth. Structural and legal issues we can help with: Defining the best legal form for your business Partnership agreements Share ownership and management structure Remuneration and division of profits Succession planning and retirement issues Business development issues we can help with: Defining your and the firm s long-term aspirations Developing the right business strategy to achieve your goals Identifying ways to raise profitability Appraisal of new business opportunities Design and implementation of improved management systems 4
5 Accountancy & Business Support Helping you build your business Exactly how you want to. 5
6 Financial and taxation support for your practice Partnerships have particular legal characteristics and it needs dedicated expertise to be able to maximise the value of your business, minimise tax liabilities and optimise profitability. Eacotts has the expertise needed. We can work with you to plan the most effective financing of your business and provide a personal, reliable and cost-effective solution to your ongoing accounting and management reporting needs. Our experienced taxation team can also provide a comprehensive tax compliance, review and planning service. Our wide, flexible range of services includes: Business finance planning: Asset and business valuations Business sales and acquisitions Venture and project finance Risk and money management reviews Working capital requirements Accounting and audit: Bookkeeping and management accounts Annual accounts preparation Audit of financial statements and reports Internal auditing Professional compliance Taxation advice and support: Tax planning and calculations Annual tax returns for the business Business tax and VAT Handling of Inland Revenue enquiries 6
7 Accountancy & Business Support Ongoing support and real solutions for Managing your finances. 7
8 Other business support services for your practice Eacotts can additionally offer you a range of personnel and management support services. Payroll and staff management: Full payroll service for your staff Periodic and year-end returns, including P11Ds Payroll analysis and reports Employment contracts and employment law advice Personnel policies and procedures Disciplinary, redundancy and tribunal representation Business administrative support: Company secretarial e.g. annual returns, share registration Mediation of commercial disputes Advice on accounting systems Other financial support services: Personal financial planning for partners and key staff Debt recovery Support with insolvencies and liquidations Fraud investigations 8
9 Accountancy & Business Support A personal and flexible service The support you need. 9
10 Why choose Eacotts? Eacotts is one of the south s leading accountancy and business advisory firms. Established in 1975, the practice is based near Slough, Berkshire, and is a five partner firm employing over 40 people. We have acted for professional service firms for over thirty years. We have deep knowledge and experience of the specific issues which confront partnerships. We are a partnership firm ourselves, of course. We offer a full yet flexible range of accountancy and business support services. We believe we offer an unparalleled level of service. We are proud of our personal, partner-led approach to serving each client, no matter how small. We specialise in owner-managed firms and helping them grow and develop. We have an extensive knowledge of the business scene in the Thames Valley and south east of England with a very wide range of contacts with other financial and business support organisations. These contacts complement our own wide range of services. We provide our clients proactively with free, additional information and guidance on changes in business, taxation and legal regulations. We provide a regular newsletter, a résumé and briefing on the Budget, and seminars on specific financial and management issues. We can structure our professional fees to suit your preferred way of paying, including periodic or fixed monthly fees, so you can budget easily in advance. Jeffrey Smith, Eacotts Managing Partner 10
11 To find out more: please call or visit
12 Accountancy and business support for the professional business Grenville Court Britwell Road Burnham Bucks SL1 8DF United Kingdom Telephone: +44 (0) Fax: +44 (0) www. eacotts.com
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