Why accepting help is a sign of wisdom, not weakness

It is more common than you think for people to consider that accepting help is a sign of weakness.

Actually, it’s a sign of wisdom!

While it may sound simple enough, accepting help is something that can be extremely challenging for all of us at one time or another.

It can be especially hard for those of us that believe that seeking help undermines our independence and our ability to cope. 

However the truth is that by refusing to accept help, we ignore the fact that we are social beings who need to co-operate with one another in order to ensure that we thrive.

Seeing seeking help from others as a weakness is often a very ingrained pattern of thinking and may therefore be hard to overcome. 

Why accepting help is a sign of wisdom, not weakness:

• Is this affecting you or your business?
• Consider exactly why you think that asking for help is a sign of weakness
• Work through how not wanting to ever seek help is reinforced by unrealistic ideals and wishful thinking
• Look to reality instead of relying on wishful thinking

Whatever your challenges or issues, why not seek support? It may just be what you need to do right now.

Omni Chartered Accountants specialise in offering free, impartial advice to prospective clients and existing ones - If you have a problem and feel we could help, why not request a free of charge call back from our website or enquire online today!

HMRC reduces external debt collectors by 50 percent

Yesterday, we wrote about the UK tax-burden according to a recent report by UHY Hacker Young.

The same company has revealed that HMRC spent £6.8m on external debt collectors in 2014, compared to £14.8m in 2013.

This reduction is down by half, and is likely to have happened after the public backlash about the way in which debts were being persued.

The use of external debt collection agencies began in 2009 as HMRC were under pressure to get the most out of its tax take and reached a high in 2013.

Head of private client services at UHY Hacker Young, Mark Giddens, said;

"Debt collection agencies are rarely the most appropriate way for HMRC to collect unpaid taxes.

"HMRC need to be absolutely certain that they are correct when employing these sort of tactics. There is no guarantee that HMRC's databases are exactly up to date. The danger is that if errors are made then taxpayers are left out of pocket and fighting for their own money against a government agency.”

HMRC can now also, rather controversially, taken on the power to demand that any disputed tax is paid up front. They are also looking at the possibility of taking unpaid taxes directly from people's bank accounts.

What do you think of this whole affair? Is HMRC always right? What about genuine disputes and mistakes?

If you would like to talk with us about your business cash-flow then request a free of charge call back from this website; we are here to help advise and guide when it comes to all money matters for your company.

Why trusting your accountant is key

Is it possible that the big players can ever really take over the position of the “high street accountant” or the reliable online accountancy practice that is always happy to offer one-on-one advice?

Of course not – not in our opinion, anyway.

An accountant should be there for you to advise you on the best way to manage your business finances and tax affairs. Let’s face it; this is a huge responsibility and one that you should only ever hand over to a company that you 100% trust in.

For example, you may be looking for the best price, but do cheap prices always mean great value?

Save more than just your accountancy bills

At Omni Chartered Accountants, we do what we say on the tin. We are direct, honest, experienced and – like our title says – we are Chartered Accountants, so you can be sure you are getting a professional level of service at all times.

We offer our clients excellent value for money but at the same time, we don’t scrimp on client service. All of our customers are given an initial consultation and we are always on-hand to offer advice in all aspects of their accounting queries when they need us.

In short, we are in business to save our clients money – we don’t put our profits first.

Why trusting your accountant is key

If you are unhappy with the way in which your company affairs are being managed, or if you would like to review your current accountancy bills, why not contact us for a free review? We will be happy to speak to you over the telephone initially and put forward our ideas as to how we feel our services could benefit your business.

Call 01902 837408 today or request a free of charge back from our website – also, check out our pricing page now to see how competitive our fees actually are.

And that is before we have started helping you to make the most of your company finances and tax affairs! Call Omni today: you won’t look back.

10 ways to get the best value from your accountant

An accountant can sort out your tax return or your annual accounts and provide advice on a range of issues, but how do you get the best return on the fees you pay to an accountant? 

1.   Choose carefully

Look for accountants with experience of your type of business. Anyone can set up as 'an accountant', so look for chartered or certified accountants, whose qualified status is backed by membership of professional bodies. A large firm suggests reliability, but a smaller one may respond better to your needs. Ask prospective accountants how they can help your business.

2.   Explain your expectations

Your accountant will summarise terms and conditions in a letter of engagement. Put your expectations in writing, too. Describe the level of service you require, for example, how quickly you need queries to be answered. Ask to deal with a specific contact, to help build a close professional relationship.

3.   Ask questions

Check what other services your accountant can offer. These could include guidance on setting up your business, preparation of financial forecasts, help with loan applications, audits, investment advice and other suggestions for minimising your tax liability.

4.   Use your accountants’ contacts

Accountants specialising in your type of business can often suggest good trade contacts. Perhaps your accountant knows a supplier who can offer you a great deal or maybe they know of a potential investor.

5.   Keep talking

Communicate regularly with your accountant to get the best possible value from the relationship. Schedule quarterly meetings to review your firm’s performance; this will help you plan better for the future. Be sure to meet before producing your end-of-year accounts or tax return.

6.   Keep user-friendly records

If necessary, ask your accountant for advice about how best to maintain your financial records. If your books are easier to read, you will save them time, which should mean a lower bill. 

7.   Do the easy jobs yourself

To reduce your outgoings, take care of simple bookkeeping tasks yourself, possibly by using accounting software. You could then better focus your accountants’ efforts where they best serve your business.

8.   Delegate

If your time would be better spent concentrating on sales or product development, you could ask an accountant to take greater responsibility for your bookkeeping and payroll. This would free you up to make more profitable use of your time.

9.   Shop around

Armed with recommendations of good accountants, get a full breakdown of an accountant's charges and services. Work out which one offers you best value for money (and that's not necessarily the cheapest, of course). And, at least once a year, review the value for money you receive. If you believe you can get better advice and value elsewhere, go elsewhere.

10.   Seek advice

An experienced accountant can offer sound advice in a number of areas. For example, they could help with your business plan, help you estimate the cost of new projects or advise on the levels of investment needed to achieve your business development goals.

We understand that all clients are individual and as such have different needs – our cost effective but personal approach gets results and ensures that customers always get the best out of their accountant if they choose Omni.

For more information, call 01902 837 408 today, request a call-back or contact us.