Services

04. Specialist Services 

Specialist Services from abacus

 

abacus aims to provide its clients with a complete range of accountancy services either by the use of in-house capabilities or by carefully selected strategic partners who can provide clients with specialist services.

We want our clients to have the confidence that, no matter what accountancy requirements they may have either now or in the future as an ongoing service or as a one off requirement, their local abacus accountant can provide the service to the highest possible standard.
 

 

Bookkeeping Software

 

Details Soon.


abacus Payroll Bureau


As a company with a strong tradition in providing payroll solutions for the SME market we at abacus Payroll Bureau focus on reducing the time and money spent by our clients on administering their payroll requirements.

We provide employees with secure payslips and the employer with all the necessary reports to satisfy all statutory bodies including the Inland Revenue.
 

Key Features
 

  • Competitive charging structure

  • Industry experienced staff, fully versed in all aspects of payroll management

  • Designated accounts managers

  • Weekly, Fortnightly, Four-weekly or Monthly payroll

  • BACS Approved Payroll Bureau

  • Sage Secure Payslips

  • Standard reports with Payslips

  • P45, P14/P60, P35 on-line filing

  • Payments and deductions covered include sick pay, maternity pay, student loans etc

  • Daily data backup

Client Base


Currently serving customers throughout the UK, we cater for any type of business from a single director to companies with 100's of employees.

Why Outsource?
 

  • Time - allows clients to concentrate on their business

  • Profitability - a cost effective solution which can increase the profitability of your business

  • Software - no need to install expensive packages with high annual licence fees

  • Cover - takes away the worry of staff shortages due to holidays, sickness etc

  • Confidentiality - signed confidentiality agreements

  • All data forms supplied - no need to develop your own spreadsheets

  • Online Filing for HMRC year-end return

Why use abacus Payroll Bureau?
 

  • Over 30 years of industry experience

  • We use latest Sage software

  • We listen to our clients need

  • We maintain regular communication

  • We comply with up-to-date legislation

  • We offer bespoke solutions

  • Full BACS facility

Communication


We aim to make the process as simple as possible. Most time sheets and hourly summaries are sent by email, but we also will accept fax and postal forms if the client does not have access to a PC.
 

How much does it cost?


Check our competitive guide rates on our Website Calculator or give us a call on 0191 438 2355 or 0844 050 2254* for a bespoke quotation.

In short abacus Payroll Bureau can increase your revenue and offer a quality service backed up by enthusiastic people whose aim is to help your business run as efficiently as possible.

Turnaround and Recovery Service, Liquidation or Receivership Services

abacus has teamed up with The P&A Partnership to provide our clients with the best possible chance of recovery when they find themselves in financial difficulty.

The P&A Partnership can trace its heritage back for over 120 years providing independent, professional services covering business turnaround, recovery and insolvency.

Their specialism enables us to apply partner led, creative solutions to businesses with financial problems and provide a range of options including: CVA's, IVA's, Liquidations, Company Sales and Administrations.

Wherever possible P&A will get our clients back on their feet and their close working association with the major high street banks and other funders can be invaluable in establishing a programme of recovery.

Sadly not all businesses can be saved and when a business needs to be wound up, P&A's emphasis is to do this with understanding, efficiency and speed.

Either way their aim is to assist abacus to provide our clients with the right advice; adding value and preserving relationships. The P&A Partnership is a member firm of the Insolvency Practitioners Association and the Association of Business Recovery Professionals (R3) and act for all clearing banks, factors, discounters and asset-based lenders. Their clients include multinational PLCs, SMEs, financial institutions, accountants, solicitors and business advisors. As the partnership works only in the field of business rescue and insolvency, they can guarantee that all their staff has the necessary expertise to provide abacus and their clients with the highest level of service.

A P&A Partner is always available to provide advice and their initial consultation is free of charge.

Additional information

In P&A's experience, there are questions relating to their work that keep on reoccurring. Click here if you would like to review these questions and their appropriate answers.

We have also attached four downloadable forms to give you some additional general guidelines in relation to fees.
 

Guides to download
 

Creditors Meeting Services

Sadly it is a fact of business life that on occasions you may have a client that enters some form of administration whilst owing you money.

What do you do? What likelihood is there of your business being paid some of your outstanding debt?

We at abacus believe that our clients should look to appoint and have professional representation at Creditors' meetings. There are a number of benefits by having an expert present at the meeting. It can:-

  • Improve dividend prospects

  • Modify proposals for a compromise of debt

  • Ensure that relevant facts not revealed are brought to the attention of the meeting

But where do clients go to obtain professional representation? abacus have teamed up with The P&A Partnership, a specialist insolvency practitioner for over 120 years.

If you receive a notice of a meeting P&A will assist you with the completion of all documentation and arrange to attend Creditor's Meetings anywhere in the UK, either with you or on your behalf, and will advise you on any future action you may need to take.

The purpose of the Creditor's Meeting depends on the type of insolvency and can be quite complex.

The procedures involved include the following:
 

Bankruptcy


Where creditors appoint a Trustee and a committee to oversee the Trustees' actions.

Liquidation


Where creditors appoint a Liquidator.

Voluntary Arrangements


Where creditors vote on whether or not to accept (with or without modifications) proposals for a compromise of the customer's debts (if over 75% by value accept, the proposals are binding on all creditors).

Administrative Receivership

Where the Receiver presents a report on the conduct of the Receivership and advises creditors of dividend prospects. The meeting can establish a Creditor's committee to oversee the actions of the Administrative Receiver.

Administration


Where the Administrator sets out proposals for dealing with the affairs of the company and where the creditors decide whether or not to accept, with or without modifications. The creditors may also establish a Creditor's committee to oversee the Administrators' actions.

Asset Financing


abacus has teamed up with Henry Howard Finance Plc, a leading Independent Finance House, to provide cost effective and specific financial solutions to business needs.

Since the company's incorporation in 1996 it has developed an exceptional reputation for service, never losing sight of expectations. From introduction to completion, Henry Howard's specialist representatives identify precise needs; administer requirements, making the process simple and stress free. Customer service is a key indicator in their business.

Henry Howard are specialists in arranging asset finance and re-finance, either via a Hire Purchase Agreement or a leasing arrangement.

Hire Purchase


Sometimes known as lease purchase, combines the immediate cash flow benefits of leasing with the opportunity to buy the asset outright for a nominal fee at the end of the agreed term. There are a number of ways in which a business can benefit:

  • Over 30 years of industry experience

  • budgeting is easier as the payment structure is agreed at outset

  • payments can be matched to the depreciation of the asset

  • capital allowances on the equipment can be claimed immediately

  • the interest element of the payment is tax deductible

  • VAT is immediately recoverable on the whole purchase price (except for cars)

  • unlike some banks, additional security is not usually required and a hire purchase agreement is not repayable on demand

Leasing


A well established tax efficient method of financing a wide variety of capital equipment. A range of assets can be financed, anything from photocopiers and office technology to specialised industrial production lines.

Leasing is a contract between a leasing company (lessor) and a customer (lessee), giving the customer use of the equipment in return for a payment of rentals over an agreed period. The customer pays to use the equipment over a set period of time, typically the agreed working life of the equipment.

Sale and Leaseback


This enables a business to sell assets back to a finance company who, in return, will release some of the value in those assets back into the cashflow of the business. Sale and leaseback is often used to raise additional capital or perhaps to extend the term of the finance. It is also frequently used in management buyouts and business acquisitions.

Factoring and Invoice Discounting


abacus has teamed up with Invoice Finance Solutions Ltd to provide our clients with access to an extensive range of flexible and competitive funding solutions.

Invoice Finance Solutions was established in 2002 to assist clients in choosing the right partner to finance their business.

Factoring and Invoice Discounting improves cashflow within your company as you are able to drawdown typically between 75% and 90% of the face value of your invoices immediately instead of waiting 30, 60 or 90 days to get paid. The balance is paid to you, less charges, once your debtor has paid the invoice.

With the additional cash flow that invoice finance generates, it enables you to grow your business knowing you have sufficient working capital to support the growth.

There are many kinds of factoring and invoice discounting facilities available which your abacus acountant or Invoice Finance Solutions will be happy to discuss with you.

Click here for a selection of frequently asked questions

Company Formation

Starting a new company can be an exciting time, but it can also be a minefield of complex legislation. Let abacus take this worry away by ensuring that you comply with all current legislation and avoid any unnecessary fines and penalties.

Our service includes:-

  • Advice on the availability of your chosen name for your new company

  • Advice on the structure and officers for the company

  • Formation of the company

  • Preparation and convening of the first board meeting

  • Electronic preparation and filing of statutory records

  • Issue of share certificate

Click here to download the Limited Company set-up form

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

  Many Years of Accumulated Practice

Request a Price Quote

For a free, no obligation consultation please call abacus accountants Islington on 0844 050 2293 or 0203 740 6877. We will be delighted to introduce you to our efficient and friendly service and explain how we can bring real benefits to your business.