Specialist Accounting Services
Family Run Businesses
WDM provide accounting services and financial and commercial advice for family businesses including whether or not to incorporate and the tax advantages of incorporation, accounting and bookkeeping, division of assets, restructuring, planning succession.
Not for Profit Organisations
The charity and not-for-profit sector has a vital role in providing a range of important services to support local communities. Yet, as demand for services rises and income falls, the sector faces many challenges.
Charities are increasingly examining ways to diversify funding given that the availability of grant funding has reduced, especially from local authorities, and grant making charities have been affected by the fall in asset returns.
The charity and not-for-profit sector typically requires to purchase external and internal audit services to ensure compliance with regulations. It may also require assistance with preparation of annual accounts.
As the sector increases trading and income generating activities, it is important that these do not trigger unexpected tax liabilities. Tax advice should be taken early so that a tax efficient structure is established.
The sector may also require assistance with grant applications and payroll processing. To ensure the organisation is operating efficiently, a business review or help with budgeting, cashflow projections and monthly reporting to the Board of Trustees may be needed.
WDM has many clients in this sector. We have an experienced team which prepares and audits the accounts of charities of various sizes and types and with a wide variety of objectives.
Our team can steer you safely through all the regulatory requirements. We have assisted clients with grant applications and we provide an outsourced payroll service through our in-house payroll bureau.
We have extensive experience in advising charities of ways to control costs and to transform regular deficits into sustainable surpluses to be reinvested in service delivery.
SolicitorsBack to top ^
WDM can provide specialist advice on tax and business to legal practitioners..
We have a sound understanding of the Solicitors Accounts Rules and can help reduce the burden of regulation whilst helping to improve the financial performance of your business in a tax efficient way.
Our solicitor accounting services include:
- Preparation of detailed accounts
- Advice on keeping records and implementing the Solicitors Accounts Rules
- Preparation of six monthly Solicitors Accountant’s Cerificate
- Informing you of potential business tax liabilities
- Review of personal tax affairs and completing self assessment tax return
- Advising on optimal business structure
Medical Professionals Back to top ^
WDM can help medical professionals get on with their jobs rather than get caught up in the complex tax and accounting specific to the medical profession.
We have the knowledge and experience to plan and implement a structured system that can manage finances and medical practices as well as an understanding of areas such as income from outside sources such as hospital PAYE and private work, NHS reimbursements and partnerships.
We can also provide medical professionals with advice on:
- Preparation of business and personal accounts
- Personal finance
- Setting up and development of a new practice
- Incorporation decisions
- National Insurance Contributions
- Business expenses
- Claiming benefits and allowances
- Employment matters
- Retirement and pension planning
Contractors Back to top ^
WDM can provide various business and accounting services to professionals such as IT specialists and designers whether it’s business management advice or accounts handling.
If you work freelance you must consider the implications on your tax and accounts. We will work closely with you and help you understand your financial position and tax responsibilities whilst working to ensure you are maximising your wealth tax efficiently.
Our experienced accountants understand the challenges that exist in the freelance/contractor sector and can provide solutions that include:
- Dealing with Intermediaries Legislation (IR35)
- VAT returns
- Year end accounts
- Self assessment tax returns
- Expenses management
- Trading structure advice
- Credit management
- Dealing with HM Revenue and Customs
- Tax advice and planning
Motor Industry Back to top ^
We can provide specialist, tailored accounting and business advisory services to motor trade related businesses such as independent garages and franchise dealerships.
Our team of accountants have a wealth of experience and can assist with a wide range of financial management issues.
Using our expertise and knowledge of the motor sector, our accounting and business solutions can help improve business performance and maximise profits.
Motor industry services we can provide include:
- Annual accounts and bookkeeping
- Financing options
- Company formations
- Business start-ups
- Tax planning
- Preparation of business plans
- Cash flow and budget management
- Dealing with HMRC