; Confused by the UK tax system?

Confused by the UK tax system?

Date

Feb 10, 2017

Did you know that 60% of SMEs feel uncomfortable with managing their own accounts? The UK tax system is so complicated that many SMEs seek help from other businesses such as Rosemary Bookkeeping to assist them in tackling the system.

Rosemary Bookkeeping is well equipped to offer support by undertaking the bookkeeping for those businesses struggling to keep up. This allows directors to focus on what they’re best at; growing their businesses. The Federation of Small Businesses (FSB) has been calling on the government to simplify tax policy but, until changes are made, businesses need support to avoid large fines for not having their books up to date.

The Rosemary Bookkeeping franchise now has over 20 nationwide offices operated by their franchise network, servicing the SME market of over four million businesses in the UK. The franchise is based on a unique business concept that has been established and refined since 2002 providing a bookkeeping system within a fully-supported franchise package. Franchisees obtain huge flexibility with superb work-life balance.

Those 60% of SMEs believe that the UK tax system has a negative impact on their ability to invest and create jobs meaning that they need someone in place with the expertise and knowledge to help them. SMEs pay on average £3,000 a year for external advice and Rosemary Bookkeeping franchise partners are able to capitalise on this growing market.

“We know that running a small business involves juggling many different priorities. Employing a full time member of staff to take care of the finances can be a huge step for many small business owners. Our franchisees offer outsourced bookkeeping services to save these business owners both time and money. Without the commitment of a salary and the HR that comes with a new member of staff, Rosemary Bookkeeping franchise partners are the perfect alternative to full-time members of staff and will make sure the accounts are submitted on time, every time,” explains Lisa Curteis, Franchise Recruitment Director.

Research has also shown that over 36% of the people responsible for the finances in a business do not have the qualifications needed. As a result of having underqualified staff, every SME in the UK could be losing up to £1,277 per year due to issues such as tax miscalculations, unpaid invoices and fines – the equivalent of £2.9 billion across the UK. Rosemary Bookkeeping franchisees are stepping in to help those businesses save money.

Rosemary Bookkeeping delivers intelligent bookkeeping services to SMEs, accountants and franchisors ensuring a consistency of delivery and high-quality work. Their practical, down-to-earth and friendly approach provides clients with information that enables them to understand and make decisions on their businesses, gives peace of mind that HMRC will be happy, whilst changes are fair and reasonable.