With BBC drama Poldark back on our screens this autumn, male protagonist Aiden Turner has been in the news quite a lot. Today news 'broke' via the Daily Star (of all places), that the actor hires his mother as his accountant, in order to keep HMRC off his back.
We're not sure what this quote means, and it can be taken one of two ways, but a more positive way of looking at things would be to say that as a self employed individual- if you don't get keep on top of your finances there can be ramifications.
This is one of the reasons we believe that outsourcing the function of your finance team is the best way to grow your business (although our focus is on SMEs with ambition!). Some people love working with numbers (there's a good few of us in this office) and some people find it at best, a distraction. Processing financial accounts is a big part of what we do, and every business has to do it. You can't operate as a business if you don't. This processing is the stereotypical accountant bread and butter, but what we do is we take a step further and complete the circle.
How Outsourcing to AFP Works
At AFP our partnerships with clients work in a circular format. Patrick and the Financial Accounts team take your financial data, process it and pass it to Pauline and the Tax and Compliance team who deal with all the statutory stuff. However the Financial Accountants also pass on this processed data to our team of Management Accountants and Relationship Managers led by Catherine. This is where the magic really starts, the Management Accountants then use the data to offer feedback, advice and predictions to you as the client through your own dedicated Relationship Manager, and to take on your feedback, which allows us to pass this information back to Financial Accounts who can adapt and improve their process to suit your current and expected needs. This circle means you're not only free to focus on your core business function, but also to utilise your financial data in a way which allows you to grow your business. Check out this flow chart for a visual representation.
Anyway, back to Poldark! If his mum's got the experience, we're sure she'll do a great job on his tax returns.