Complete Guide To Corporate Finance

The Business Finance Guide

Not many UK businesses are keen on outsourcing their accounting needs, as bookkeeping and financial services have always been the type of in-house jobs. However, as business operations are adapting to the new markets, where customer relations and networking are more important than ever, outsourcing your accounting does not seem like such a silly idea anymore. In fact, there has been an increase in firms providing such assistance and there is a great variety of services offered by Wakefield accountants, as to cater to all types of needs, whether for small or large businesses. Outsourcing this department of your company, if done properly, can have significant positive benefits on your business, reason for which it is wise to research the matter thoroughly and find out what exactly it is that an external firm can cover for you.

Bookkeeping and Payroll


The most basic accounting needs of any business are bookkeeping and payroll and although these may not be complicated matters at all, they can surely take up a lot of one’s time. External Wakefield accountants can take care of your business’s monthly bookkeeping and management accounts, submission of real time information returns and VAT returns and they can even complete monthly CIS returns for you. They can handle all payroll matters on your behalf, which will free up significant time for your business.


Business Taxation


An external accounting firm can offer you a comprehensive range of tax services depending on the particularities of your business and your exact needs. This is why it’s important to carefully research the market when it comes to choosing the Wakefield accountants to outsource your services to, especially if you need more than just your year-end returns taken care of, such as business restructuring for tax purposes. Tax compliance services can also be provided by external accounting firms, as well as support and assistance with HMRC approved schemes.


General Accounting Services

If you need accurate reporting for statutory compliance, for bank presentations or stakeholder meetings, then outsourcing this service may be very wise, as it takes clear identification of accounting trends and issues, as well as thorough preparation of financial information. This can be a onetime service or a regular provision, depending on the type of business you run.


Buyouts and mergers


Even if you have an in-house accounting department, when it comes to mergers and acquisitions, getting outside counsel and help is very wise. There are several accounting firms that provide Corporate Finance Services, but these are very important matters, so you need to be very careful in choosing your outsource company. These services include not only buyouts and acquisitions, but also business disposals, fund raising for business or due diligence reporting for finance providers.


As you can see, Wakefield accountants and external accounting firms can provide you with a very large range of services, which isn’t to mean that you can only outsource your accounting if you need all of these operations. It only goes to show that the idea of outsourcing this department becomes more and more practical and affordable every day.

Leave a Reply

You must be logged in to post a comment.