French Duncan Entrepreneurial Services provides an advisory driven service to our many SME clients. We ensure our clients meet their compliance obligations whether that be to HMRC, Companies House, banks or other stakeholders.
Throughout this process we are focussed on adding value. By understanding your business and what makes it tick, we can help you understand the key financial drivers in your business and help map out a strategy to fulfil your goals and ambitions for your business.
We advise clients across a wide range of sectors with businesses set up in many different ways. In our experience it is about building understanding and trust with our clients.
Our objective is to help our clients maximise their potential and to achieve this in the most effective and efficient way possible.
All UK limited companies are obliged to prepare and file statutory accounts with Companies House. Sole traders and partnerships have an obligation to submit financial information to HMRC and in accordance with general accounting standards.
We will help you meet your statutory financial reporting requirements and, as part of our core service, we will:
Our team offers a wealth of experience on the interpretation of this financial information and works closely with you to help you understand the financial results of your business. We will provide advice on how to use this information to help make decisions about how to grow and develop your business.
A business is expected to keep its accounting records to a certain standard and, for limited companies, company law states that it is the responsibility of the directors to maintain adequate books and records. We can help you meet this requirement. If an HMRC enquiry process commences, we can provide services to ensure your accounting records and systems are to the required standard. We offer a Tax Investigations Service, click here for further information.
Our experienced team can provide:
We offer a range of cloud accounting services, which can help save you time and money when it comes to your business finances. Find out more about how we can help you here.
Should you wish to monitor the financial performance of your business on a more regular basis, we can assist SMEs in the UK with the preparation of management accounts.
Management information can be produced on a monthly or quarterly basis and provides a vital management tool to help you make the right decisions for your business. We provide financial information to suit your organisation and help you review and evaluate this information on a regular basis. We can also provide:
Management accounts are often specifically requested by the bank or other external funders. We will ensure that the management information required to meet any of your financial covenants is produced within the reporting deadline.
If you are seeking a financial controller or a management accountant, but cannot justify the costs associated with appointing a full time employee to perform these services, we can provide a tailored service to suit your business requirements. We would be delighted to be part of your financial support team.
For businesses eligible for VAT, we can prepare a monthly or quarterly VAT return from your books, or from accounting records maintained on your behalf.
We will submit the VAT return to HMRC electronically, within the required filing deadline, and advise you timeously of the required payment to be made to avoid any penalties arising.
We will liaise closely with our VAT specialists should any VAT issues arise.
From 1 April 2019, most VAT registered business with an annual turnover above the VAT threshold will be required to maintain and submit their VAT returns to HMRC digitally via compatible software.
From 1 April 2020 at the earliest, digital reporting for Income Tax and Corporation Tax purposes will be introduced. While details on these aspects are limited at the moment, the planning should start now with VAT reporting.
Partner & Head of Entrepreneurial Services
Greg Callan, Partner is Head of the Entrepreneurial Services Team and leads the team of 50 who work from our locations in Glasgow, Stirling, Edinburgh, Hamilton and Dumbarton.