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Role of Construction Accountants in Risk Analysis for Real Estate Agents

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Property developers, building contractors, tradesmen, and other construction-related clients require specialised accounting services for their unique needs. For this reason, construction accountants work solely with them. These specialists also work for real estate agents as financial advisors and risk analysts, so they can target the right property resources and maximise the potential of returns. If you are a real estate agent yourself, you can benefit from their meticulous business plans and exhaustive planning strategies that are aimed at maximising your profit margins.

 

Given the volatility of the property market, it is important for real estate agents to be able to analyse risks more effectively, while having the capacity to make informed decisions. Construction accountants can empower them to make the most of their resources by handling complex areas like tax structures, comparative studies, and fund optimisation reviews and hand them over to you to help you get the most from your hard work. They can help you across any property-related task, whether you are dealing with commercial or residential properties or land, private property, revenue generation, surveying, and revenue generation.

 

Real estate risk analysis is critical when dealing with any investment decision. It can help you in certain circumstances, like when you need to determine if a proposed investment is suitable to the risk tolerance and yield requirement of a real estate investor, and analysing an investment’s financial risk with debt financing.

 

Real estate agents can focus more on what they do while they leave VAT planning, capital gains maximisation and implications, and financing property transactions to construction accountants. You can also count on these accountants for other services such as stamp duty or land tax and treatment of tax for rentals. With their input, you can make informed decisions when analysing the risks in your real estate projects. That said, it is important to choose an experienced construction accountant with extensive expertise in matters of real estate. Moreover, you need to make sure they have the tools to maintain the effectiveness and efficiency of their services to you.

Posted on March 15, 2020 by admin

Few Tips to Hire Good Media Accountants for Your Film and Creative Agency

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Professionals in your line of business are typically busy with other matters. This means you are likely to have less time to deal with your accounting and bookkeeping. To save on overhead costs, you may want to consider outsourcing those matters to qualified media accountants. These specialised accountants can give you the peace of mind you deserve, while serving as your personal financial advisor. Here are a few tips to help you find and hire the right accountants for your film and creative agency:

 

  • Know what they do – Apart from covering the basics (i.e. bookkeeping, VAT returns, payroll, cashflow forecast, and management accounts), they should be able to provide advice on how to grow your business, and recommend and implement an accounting system that can provide accurate information.

 

  • Make sure they are chartered accountants – Verify their credentials and expertise in media accounting. Consider media accountants with a proven track record in helping similar businesses.
     
  • Connections – Choose accountants with a lot of connections in and outside the media, including solicitors and lenders. This makes them more competitive and reliable when giving you legal advice or helping you seek funding for your projects.

 

  • Choose experts who can do more for you – Look for media accountants that can cover all financial services you may need, such as tax advice, international taxation, and helping you find funding for your projects. Some accountants are also qualified to give you advice as you set up your business, so you can pick the right business structure. Likewise, their input can help you decide whether to accept certain projects based on factors like funding, reputation, taxation and feasibility.

 

  • Look for a guarantee – It is crucial for your media accountant to give high-quality advice, while considering your business objectives, attitudes toward risk, your values, and unique circumstances. Make sure they provide fair, transparent, and simple pricing and that they are responsive, and keep you updated with all matters.

 

  • Schedule a consultation – Some media accountants offer a no-obligation consultation to help you get started in making an informed decision to hire them.
Posted on March 10, 2020 by admin

Everything You Need to Know About Restaurant Accountants

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Bookkeeping is standard in every business, including restaurants. However, it tends to be challenging and you might not even have the time to do it on your own. This is where it makes sense to hire restaurant accountants who can do it for you. That way, you can focus on running your restaurant, and leave the accounting and bookkeeping processes to them. They may even improve other aspects of your work and responsibilities as a restaurant owner, while helping your business thrive in the long run.

 

Seasoned restaurant accountants can customize their solutions to suit your unique requirements. They aim to deliver flexible and reliable services with effective financial plans that will help keep your business secure. They have experience in working with many different restaurant services, including multi-awarded and highly recognised restaurants, as well as small businesses. So, you can be confident in their flexibility and ability to provide custom accounting services to your business.

 

Restaurant accountants offer other services that can help keep your business healthy. You can turn to them to compare your restaurant’s performance with benchmarks in the industry, and for reporting on labour and food costs on a weekly or fortnightly basis. This way, you easily manage your expenses and make sure that you are able to provide fair salaries to everyone in your staff. Some accountants are also able to help with the valuation of your inventory on a monthly or weekly basis to make sure that you do not have too little or excessive supply.

 

Upgrading your accounting to a cloud-based structure can be challenging, but restaurant accountants can help you with that. They can even implement an epos setup with practical analysis and reports, and link it with your accounting software to automatically reconcile bank deposits and sales. Accountants can also correct the VAT treatment of edibles, provide advice on gratuities and tips, and identify break-even sales, while assisting you with cash flow management, raising finance for business growth, and help you make informed decisions about expanding your restaurant business.

Posted on March 5, 2020 by admin

5 Ways Accountants Can Benefit Landlords

 

Regardless of how many rental properties you own, you might find it daunting to deal with taxes and accounting when you are too busy managing them. You can avoid the hassle of facing the HMRC and keeping records by outsourcing your accounting. Accountants for landlords can benefit you in these crucial ways: 

  1. Save tax on rental income – They will take into account every possible expense you may have incurred, including travel, stationery and utilities between your properties. Deductible expenses are covered too, such as council tax, ground rent and letting agents’ fees.
  1. Become tax efficient – With the help of accountants for landlords, you can experience maximum deduction of your expenses, especially if you are joint tenants with a partner.
  1. Ensure tax efficient ownership for buy-to-let property – Changes to the tax structure of buy to let properties’ rental income were announced in the 2015 summer budget. This made properties more attractive to own via incorporation. However, you can still get good returns on a buy to let investment. Accountants can give you advice on the most efficient means to own a property.
  1. LESA – Accountants for landlords can help you file the claim for the Landlord’s Energy Saving Allowance. It lets you claim against the money spent on energy efficiency measures like loft insulation, draught proofing, cavity wall insulation, floor insulation, hot water insulation and solid wall insulation.
  1. Tax returns – Even landlords must file their tax returns, especially if rental income exceeds 2,500 quid. Accountants can help you with this.

Accountants for landlords can also serve as your agent and represent your case to the HMRC. They can argue on your behalf if the wrong tax code was applied or if there are any errors in HMRC’s calculations. If you failed to declare past rental profits, they can help you disclose your taxable income on better terms. They have experience in negotiating favourable terms for landlords.

Posted on February 27, 2020 by admin

Some Useful Tips for Finding an Accountant for Medical Professionals

 

is not uncommon for medical professionals to pay much more tax than usual, and they have no time to check why. Overpayment is usually the result of last-minute filings, which puts you at risk of filling in the wrong or inaccurate information as you are in a hurry. Late filings could also mean paying the penalties in addition to your taxes. However, you could also pay too much tax due to an incompetent accountant. That said, it makes sense to find the most experienced and credible accountant for medical professionals. Here are more tips to help you find the right one:

  • Do you really need a medical accountant? – The quick answer is yes, you need an accountant for medical professionals because taxes for doctors, dentists, general practitioners and pharmacists are typically more complex. Moreover, you could be too busy with your practice that you will not have enough time to do your accounting and deal with taxes.
  • Make sure they are qualified – Check that they are chartered accountants in the UK and that they have extensive experience in medical accountancy. Verify their experience by asking for or looking references. You could also explore client testimonials and reviews, but take them with a grain of salt. Consider someone who is based locally, so you can rely on their knowledge of local tax laws that apply to medical professionals.
  • Choose all-around medical accountants – An accountant for medical professionals can find ways to legally minimise the tax you are paying, and aid in getting your refund. Apart from helping you with accounting and bookkeeping, they can also help with advanced tax planning to streamline your personal finances. Some of the best accountants can go beyond and give business advice to help you grow your practice too.

Finally, look for a guarantee. Make sure that the medical accountant can add value to your practice. They should be able to guarantee high-quality advice, responsiveness, fair and transparent pricing, and reliable communication. Should you be unsatisfied with their service, you will not have to pay for it.

Posted on February 20, 2020 by admin

How to Make Full Use of Property Accounting Services

 

Building a new property has its own unique challenges, and some of them can be easier to deal with when you get property accountants to help you out. These specialised accountants have extensive experience in working for construction-based customers, such as sub-contractors and main building contractors, developers, and tradesmen. They possess the understanding and knowledge necessary to navigate the ins and outs of property accounting, while serving as your trusty financial advisor too. This way, you can rely on them for risk analysis and gain the right resources to maximise your project’s potential.

To get the most from property accountants, hire a team that will not only help you with the accounting and bookkeeping. The best ones can serve as your partner in exhaustive and meticulous planning for your business. This way, you can maximise your profit margins and keep your business afloat, even in the most volatile markets. An experienced property accountant can help you across different property-related matters and transactions, including taxation, revenue generation, and surveying, no matter what type of structure you are building (i.e. commercial land, residential properties and private structures).

You can rely on property accountants for VAT planning, financing property transactions, capital gains maximisation and implication, land tax and stamp duty, and allowance (claims, reviews and reliefs). They can go beyond their usual bookkeeping and accounting services by helping you with inheritance and estate planning, treatment of tax where renewable projects are involved, and treatment of tax for renting.

Landlords can also benefit from hiring property accountants. Whether you have a single or multiple rental property, these accountants can take care of bookkeeping, maintaining accurate records, and dealing with the HMRC. With their help, you could minimise your expenses related to utilities, transportation, council tax, ground rent and service charges, mortgage payment interest, letting agents’ fees, accountants’ fees, and maintenance and repairs. They can aid in the reduction of basic tax rates and advise you on the most tax efficient means to own property.

Posted on February 14, 2020 by admin