The Blog

Why do i need an accountant?

Your questions – answered: ‘Why do I need an accountant?’

This is a question most business owners find themselves thinking about, especially when they’re first starting out.

This is either because they’re aware of the fact many other businesses employ the services of an accountant or using an accountant has been recommended to them, or both.

 

Here’s our answer to this frequently-asked key question:

Using an accountant provides businesses with peace of mind that their financial affairs are in order, up to date and comply with the latest industry regulations and HMRC’s requirements (which can come with hefty penalties if ignored or missed).

Accountants are responsible for making sure individuals and companies maintain clear and accurate records of their financial performance. They also keep businesses updated on changes to the tax law, such as Making Tax Digital, and help them make the relevant adjustments so that their financial records adhere to the latest guidance.

While accountants may help businesses in areas, such as book-keeping and payroll, self-assessment and VAT returns on a day-to-day basis, they are also on hand to help business owners make informed decisions about their future direction.

Many leading accountants provide strategic financial planning and tax-saving advice that enable companies to save money. They can also help business owners make more money too by advising on the right wealth-building strategies.

Overall, their role is to implement efficient systems and offer proactive, hands-on support throughout the year that helps businesses grow financially stronger.

So many businesses organisations don’t use an accountant because they think it’s easier for them to take care of their financial affairs themselves or want to save money which, in some instances, may be the case.

However, in our 30 with over 35 years’ experience of providing accounting and financial services, we’ve found that having an accountant in your team this route is is always the best route, especially when business owners become too busy to stay on top of their business’ financial affairs or find taking care of their accounts is preventing them from spending valuable time on their business.

Are you unsure about whether or not you need an accountant? The quickest and easiest way to find out is by getting in touch with us for an initial consultation.

It’s free of charge, there’s no obligation to use our services and it will help you see why so many businesses (potentially including yours) do need an accountant. To arrange your free consultation, contact us on 01905 777600 or hello@ormerodrutter.co.uk

Spring Statement 2019

Chancellor Philip Hammond delivered this year’s Spring Statement during what is an uncertain time for the economy and businesses.

Our summary below provides an overview of the latest measures, and includes updated forecasts for the UK economy and public finances, as published by the Office for Budget Responsibility. The Chancellor pledged to bring forward the £700 million reforms for business apprenticeships, and also announced that a £26.6 billion ‘deal dividend’ would be made available to help boost the economy, providing a Brexit agreement can be reached.

We also look ahead to some of the key tax and business changes coming into effect in the new tax year.

For advice on any of the topics covered in our Spring Statement summary, and how they may have an impact on your business or personal finances, please give us a call on 01905 777600

Click here to download

Welcoming our 200th member of staff to the team

As chartered accountants, you’ll usually find us focusing on our clients’ figures, but we’ve been focusing on a rather special figure of our own recently.

We’ve been looking after clients for over 35 years and have just welcomed our 200th member of staff to the team.

With eight offices across Worcestershire, we’ve grown into one of the largest independent practices in the Midlands.

Here’s what our Senior Partner, Peter Ormerod, has to say about our latest staff milestone and success story so far:

“We’re really proud to have hit this milestone. It’s an incredibly special achievement for us.

“Over the years, we’ve grown and developed our services as the needs of our clients and the business world in general have changed. I’m extremely proud that we’ve maintained our friendly, accessible and highly professional approach to business.

“We’re always keen to strengthen our team and many of our senior accountants and advisors started life on our award-winning apprenticeship scheme.

“Our home-grown talent is a source of great pride, but we’ve also welcomed new partners to the board, who are experienced specialists in their own fields, and further strengthen the level of strategic business advice we offer.

“In an ever-changing business climate, we’ve expanded the services we offer to include HR, IT and property tax advice, in addition to our core services of accounts, audit, bookkeeping, tax and VAT advice.”

“We’re committed to maintaining our culture of family firm personality with a big firm capability.“

For more information about our wide range of services visit here. In the meantime, if you’d like to discuss your requirements with us, contact us on 01905 777600 or  hello@ormerodrutter.co.uk.

 

Ormerod Rutter on the move with a bigger Bromsgrove base!

Ormerod Rutter have recently returned to Regency House in Birmingham Road, Bromsgrove to expand our base in the town centre and offer support to more members of the local business community.

The Bromsgrove office is led by senior partner Julian Dyer and accounts manager Doug Marshall, who has been instrumental in developing our apprenticeship scheme. Now entering its fifth year, the initiative has gone from strength to strength, and we’re really pleased to announce that we’ve been shortlisted for the Worcestershire Apprenticeships Employer of the Year 2015.

Both the office at Bromsgrove and our headquarters in Droitwich will be taking on more apprentices in September as we maintain our commitment to providing career opportunities for talented young people in the West Midlands.

Julian commented that “We pride ourselves on having the expertise across the firm to look after our clients’ financial needs throughout their business journey. As we started as a family firm over 30 years ago, we appreciate what it takes to build a successful business.”

One of our specialisms at this office is research and development tax relief, which rewards forward-thinking businesses who invest in innovation. It’s surprising that many local businesses are unaware they could be eligible, and we would urge them to consider if they fall within the guidelines to claim the relief.

To find out if you could be eligible for R&D Tax Relief, download our free help sheet now.

 

National Apprenticeship Week 2015

 

Here at Ormerod Rutter we’ve run a successful Apprenticeship scheme for the past three years. This week is National Apprenticeship Week 2015 and we have just launched our 2015 vacancies as we begin to recruit for another round of apprentices to join our fast growing business.

Current apprentices Charlotte and Sam gave a talk at Alcester Grammar Sixth Form about their experiences to help inspire other young people to consider this career path. Our past and present apprentices also gathered for a selfie outside our Droitwich office to support Worcestershire Apprenticeships, who are aiming to drive economic growth in the region by increasing the number and range of apprenticeships available.


Our apprentices shared their thoughts about their experience and how it’s helped them with their future plans:


What made you want to do an apprenticeship?

I didn’t feel like university was the right option for me. An apprenticeship lets you learn on the job, without getting into debt, and it gives you hands-on experience.

I don’t think people realise that you can train while you’re earning and actually doing the job with an apprenticeship. For this type of career it’s perfect, you get more experience and you don’t get into debt. Schools and colleges heavily promote university as an option but it’s important to research what else is out there.


What has been the best thing about your apprenticeship?

When you’re in the workplace you get to meet people of all different ages with different backgrounds. It teaches you a lot of skills and gives you a much wider experience. At school you’re always with people your own age but once you start work it really broadens your social skills, and you make lots of new friends!

I’ve been able to get a qualification and learn a lot of practical skills which will really help my future career and I’ve got experience of being in the working environment which I wouldn’t have got from university.


What would be your advice for anyone considering an apprenticeship?

Definitely research your options because an apprenticeship is a really good opportunity to get hands-on experience and avoid getting into debt. A lot of people go to university for the lifestyle but you can have just as much fun as an apprentice! You’ll develop a lot of transferable skills and experience that will help in your future career too.

 


If you’re considering an apprenticeship, we currently have vacancies for 2015. Please see the careers section of our website for more details, call 01905 777600 or email our senior HR advisor Jayne Spiers at JayneSpiers@ormerodrutter.co.uk

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