Happy New Year – are your finances in order for 2011?

Naturally a New Year brings with it hope and aspirations for the forthcoming year, as well as an opportunity to reflect on the year gone by and make improvements.

Is your north west manufacturing business ready and raring to move forward into 2011?

The finances of your business are a dual responsibility which we believe should be shared between you and your accountant.

Ashworth Treasure accountants in Lytham have what we think are some useful tips on financing which could help your manufacturing business:

• Terms of business – Make these clear and don’t be shy in asking for your money.
• Claim expenses/allowances wherever possible – Are you aware of what allowances can or cannot be claimed? Work closely with your accountant on this.
• Tax planning – tax planning strategies could have a positive impact on you finances - work closely with your tax adviser on this.
• Advertising - be savvy about your marketing strategy. With no plan you could waste valuable money for little reward.
• Banking - is you’ve got excess funds make sure you get the best interest rate. There are still a few savings accounts that off a good interest rate.

If you are involved with a manufacturing business in Lancashire or the North West and would like to talk about specific tax advice with a specialist firm of accountants, then please get in touch.