July 2008

"If you always do what you always did, you'll always get what you always got..."

Sometimes that can even be a positive: even the right thing to do. But in fast changing economic times, sticking with what you´ve always done isn´t for the best. More than ever, you need a level of expertise from your accountants that isn´t available everywhere you look.

When choosing accountants to work with – whether your business is large or small – you´ll expect the basics, of course, like preparing your accounts and your tax returns. you´ll expect them to prompt you and make sure all relevant documentation is submitted on time to HM Revenue or Companies House, for instance.

Stuart Sheldrick, a director at LB Group´s Chelmsford office, warns that if you – and your accountants – are doing no more than that, your tax bills could be higher than they need.

He says, "Pro-activity is never more important than now. Taking a different look at the way you do business and your future planning, can have a huge impact on your bottom line. For example, if you buy a fixed asset – new equipment for instance – in the current period rather than later, it could make a big difference to your Capital Allowance claim.

"Tax planning advice is just as important from a personal perspective. Withdrawing profits from your company through a combination of salary and dividends needs to be structured to minimise personal tax and employer NI exposures," he added.

At its offices in Colchester, Stratford and Chelmsford, LB Group has brought together an exceptional team. They are people with a level of expertise and experience seldom seen outside of the City of London and gained in industry, commerce and corporate banking, and through traditional accountancy practice.

"We want our clients to be able to control, monitor and take decisions that are right for them," said Stuart. "To manage opportunities and prepare to meet and overcome threats as early and effectively as possible.

"At LB Group, we speak to you in a way that you´ll understand. So when you deal with LB group, we don´t talk jargon, and we give honest advice – and offer fixed fee quotes - that can help you plan and budget properly.

LB Group offers a wide range of accountancy, audit, taxation, payroll, and financial services tailored to the needs of its clients. It also offers training on popular accounting software programmes such as Sage and can provide pro-forma spreadsheets of cost classifications for those with manual records.