Helping businesses earn more, pay less tax, allowing you to live the life you want
Chartered Accountants on the outskirts of York
Chartered Accountants in York
As business owners ourselves we know the frustration, stress, and sleepless nights caused by running a business, managing a team, and keeping track of what taxes are due.
At Inglis, we save you time, stress and money by helping you stay in control of your business and maximising your tax reliefs. We are more than just an accounting firm, we support you and your business in the long term, and help you achieve your business and life goals.
Net Zero Accounting
Inglis have proudly reached the first level of certification to becoming a Net Zero business, working with climate action platform, Net Zero Now.
A Force For Good
Whilst profit, tax and cash is important to us, we support several good causes including Wetwheels Yorkshire, York Mind, and Kitchen For Everyone York.
Popular services
At Inglis, we offer a range of accounting services to help your business grow and thrive
Virtual Finance Director
Leave us to manage the finance function of your business so you can concentrate on the day-to-day running of your business. As your Virtual Finance Director, we will be a sounding board you can bounce ideas off, as well as acting as your business coach and working alongside you to ensure you meet your business goals.
Management Accounts
Do you know how much money is coming in and going out of your business on a day by day, week by week basis? In order that you can make informed decisions to manage your business better, we offer a management accounts service that will help you keep on track of your company's numbers.
Bookkeeping
As you grow your business the number of transactions you complete can quickly add up and bookkeeping can become a daunting and endless task. We offer an out of house bookkeeping service so all you need to do is pass us your sales invoices and receipts and we will do the rest.
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32 Ways To Save Tax and Extract Maximum Value From Your Business
Ever wonder what you can take out of your business or how you can save more tax? This guide explores 32 ways of ensuring that you’re maximising every opportunity you could be to improve your life, your families and your employees.
Latest Blog Articles
Digital systems and cloud technology have revolutionised the running of the average small business. But with software systems comes the ever present issue of cybersecurity. And it’s not just the big league, like Boots and Marks & Spencers, that have to worry about getting hacked. A recent BBC News article highlighted how one cracked password is all it took for a ransomware gang to destroy a 158-year-old transport company, putting 700 people out of work. So, what can you do to increase your cybersecurity and keep your business, customer and finance information safe from hackers and malicious software? Here are five ways to help protect your business 1. Use strong passwords and multi-factor authentication (MFA) Make it mandatory for your team to use complex, unique passwords for all business accounts and devices. And make sure to enable multi-factor authentication (MFA) (sometimes called two-step authentication) so all software and system log-ins require a second form of verification, This makes it far more difficult for hackers to gain access to your systems. 2. Keep software and security patches updated Regularly update all your operating systems, software, apps and security patches, so you’re always using the most up-to-date versions. Cybercriminals will exploit any known vulnerabilities in out-of-date software, so patching these gaps is a critical step in preventing attacks. 3. Train your staff to recognise phishing and poor security Your employees are often the first line of defence. Provide regular training on how to spot suspicious emails, texts or calls. And make sure your team-members knows to avoid clicking on malicious links or downloading unverified attachments for example. 4. Secure and regularly back up your data Make sure to back up your critical business data to a secure, separate location, like an encrypted cloud service or an external drive. With back-ups in place, you can be up and running quickly in the event of a ransomware attack or data breach. 5. Adopt the Cyber Essentials scheme The Cyber Essentials initiative is a government-backed certification scheme that explains five ways to protect your business against the most common online threats. By completing the Cyber Essentials scheme, you demonstrate your commitment to cybersecurity and give the business increased protection against potentially harmful attacks. Helping you keep on top of cybersecurity Keeping your business and your data safe and secure is a core responsibility for every small business owner. And there’s plenty of advice available to boost your cybersecurity. The National Cyber Security Centre has a mix of advice, schemes and training available for small and medium-sized UK businesses. And if you need 1-2-1 advice, our team will be happy to offer support and connect you with local cybersecurity experts.
Would your business still thrive, or would it suffer a catastrophic failure if you suddenly stepped away? It’s tough to remove yourself from the day-to-day operations when you’re passionate and busy. However sudden accidents, illnesses, or family emergencies can – and will – happen and you need to be able to step back knowing your systems are robust enough to cope. Build in resilience For your business to work for you, you need to make yourself replaceable. Large corporations have plans in place to mitigate what’s known as 'Key Person Risk'. But when you run a small entrepreneurial venture, who is the backup? The more you can train and empower your team to perform the business’s essential daily functions without micromanagement, the closer you'll be able to enjoy a lifestyle business. Establish repeatable and scalable support infrastructure to run the daily operations and create a great team that you can lean on. Your staff need a common purpose, knowing why what they’re doing matters, as well as clear expectations around their roles. By creating a suitable work environment, where employees both individually and as a team are more efficient and likely to enjoy what they do, you’ll breathe easier knowing they have your back (and your business) in an emergency. Finally, it’s important to know what the business looks like without you. An exit strategy is often thought of as the way to end a business – which it can be – but in best practice, it’s a plan that moves a business toward long-term goals and allows a smooth transition to a new phase. That may involve re-imagining business direction or leadership, keeping financially sustainable, or pivoting for challenges. A fully formed exit strategy takes all business stakeholders, finances and operations into account and details all actions necessary to sell or close. Strong plans recognise the true value of a business and provide a foundation for future goals and new directions. Top Tips No one is irreplaceable – Challenge yourself to step away for a week. Which systems fall over? Which procedures get left hanging? Which duties get ignored? Go cold turkey as a test case for the time you may have to leave your business in the hands of others. Embrace innovation – Get systems that are simple, streamlined, effective and can be used by multiple key team members. Make sure anyone can log in and see exactly what’s needed for what reason at any time. Recognise the value you’re creating – A business that doesn’t rely on its owner is worth a lot more when the time comes to sell or pass the reins to someone else. Over the years, we’ve grown into one of the leading accountants in York, expanding our range of accounting services whilst staying true to our core values. If you would like to talk to our team about structuring your business to make it more reliable, then book a discovery call with Donald Inglis .
When you’re running a business, it’s easy to get caught up in the day-to-day activity and lose sight of the big picture. Taking stock of the health of your business is important. Knowing where you are allows for more effective planning, early warning about any issues, and the chance to better chart a course for success. There are some quick ratios that will help you to gauge the health of your business. We can help you to assess your business health and show you how to calculate these vital checks. Liquidity ratios Liquidity ratios are about how quickly you can turn your business assets into cash - which helps you assess whether you’ll be able to pay the bills if cashflow gets tight. High ratios are better, as this means you’ve got more assets than liabilities. Current ratio Current ratio = Total current assets / Total current liabilities As a general guideline, 2:1 is a good current ratio, but this does depend on the kind of industry you’re in, and the nature of the assets and liabilities. Quick ratio Quick ratio = (Current assets – stock on hand) / Current liabilities This measure excludes your existing stock, which you may not be able to quickly turn into cash, and is seen as a more realistic quick snapshot of your position. Solvency ratios Solvency ratios look at sources other than cash flow to see whether your business will be able to settle debts. Leverage ratio Leverage ratio = Total liabilities / Equity This is a measure of whether your business is reliant on debt financing or equity to fund your assets. A higher ratio can make it harder to borrow money. Debt to assets Debt to assets = Total liabilities / Total assets This tells you what percentage of assets is being financed by liabilities. Profitability ratios Profitability ratios will let you know how efficient your business operations are. Where possible, it’s good to measure your business against others in your industry. Gross margin ratio Gross margin ratio = Gross profit / Total sales This ratio tells you whether you can cover the necessary business overheads from your sales. Net margin ratio Net margin ratio = Net profit / Total sales This measure tells you the percentage of sales dollars left after you’ve settled your expenses, except for your income taxes. Checking your business health is a great habit to get into Using these ratios helps you to understand your current business health and allows you to plan. Talk to us about how to calculate the factors in these ratios in order to keep your business on the right track.