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
In a world where evolving political events can change the market in an instant, and economic instability is still the norm, finding certainty in your business strategy is a rarity. Keeping on top of your cash flow is even more important during tough economic times. With global uncertainty, recent high inflation, energy prices soaring, supply chain challenges, cash is likely to be tight over the coming year. Cloud technology and fintech apps, can give your business the best possible control over its cash. Why is cash flow so important? To keep your business operating, you need enough money coming into the business to cover your outgoings – with enough surplus cash to deliver a profit. In recessionary periods consumers have less disposable income to spend on your products and services. Business customers will be looking to reign in their spending on suppliers. As a net result, your business is likely to make fewer sales and will bring in smaller revenues. This means: Reduced income coming into the business. Less cash in the business to cover your operational expenses. Not enough money in the bank to pay suppliers, utility providers or payroll costs. In the worst-case scenario, insufficient cashflow for you to continue trading. What can you do to improve your cash flow situation? The more informed you are about your cash position, the more you can do to prepare for any cashflow gaps. It’s this foresight that can make all the difference when you’re battling against tough external economic forces and a downturn in sales. If you want to safeguard your cash flow, these are some sensible steps to take: Switch to cloud accounting – accounting and finance technology has moved on in leaps and bounds in the past decade. The best cloud accounting platforms all offer a detailed reporting of your cash position. These software tools will generally offer real-time data, giving you up to date cash numbers. Integrate with cash flow forecasting apps – cloud accounting platforms let you add third party apps to create a custom app stack of helpful business tools. There are plenty of cash flow forecasting apps to choose from, giving you the ability to predict your future cash flow position. Plan ahead for the cash flow gaps – when your forecast shows a shortfall of cash coming up, that’s the time to take evasive action. If you can see that there’s a cash hole approaching next month, it’s time to look at ways of raising extra finance to fill that hole. That could mean extending your bank overdraft, taking out a small business loan or taking out an invoice finance facility with a lender. Look for opportunities to cut your overheads – one way to even up your cash flow is to cut down on your expenditure. If you can cut back on overheads, expenses and unnecessary costs, this can help you re-balance your cash position, even when cash flow is getting tight. Look for cheaper suppliers, buy in smaller quantities and take every opportunity to cut costs and keep your spending more sensible. Update your prices and your sales strategy – raising your prices is one way to bring in more cash, with the same volume of sales. But it's a balancing act. Putting your prices up can alienate existing customers and could see you losing customers, but if you can find the sweet spot for your pricing AND also drum up more sales, you can quickly increase revenue and give your cash inflows a healthy boost. Review your cash flow reports regularly – it’s important to look at your cashflow numbers and reporting regularly, not just at period-end. This is particularly important when economic times are tough. With the most current cash information to hand, you can make informed business decisions and aim to keep the business operational. Talk to us about updating your cash flow processes With your business in a healthy cash flow position, you give yourself some solid financial foundations for riding out the global recession. No business is invulnerable in these conditions, but with liquid cash in the business, you have more flexibility and more capital to play with. Book a meeting and let’s see how we can improve your cash flow processes.
In a world where evolving political events can change the market in an instant, and economic instability is still the norm, finding certainty in your business strategy is a rarity. Business plans and your overriding strategy are no longer written in stone. This means being flexible about your next steps and regularly reviewing your business strategy. Let’s see how frequent strategic business reviews can help you reduce the uncertainty. 1. Get proactive with your financial forecasting Review your financial position, metrics and reporting as regularly as possible. Produce rolling cashflow forecasts to keep on top of your cash position and run scenario planning to look at the best, base and worst-case scenarios. This gives you the best possible visibility into the company’s financial health, and gives you enough time to spot the potential shortfalls, understand your cash runway and make adjustments to your spending. 2. Diversify your revenue streams to reduce risk As part of your strategic review process, you should be looking for opportunities to diversify as a business, generating new and potentially profitable revenue streams. Explore whether there are new products or services you might offer, and whether you could target new and, as yet, untested customer segments. Increasing your online presence to sell more through e-commerce channels is another option. If you can reduce your reliance on a single income source, this reduces the risk level and strengthens your resilience against sudden market shifts or economic downturns that might, potentially, affect one area. 3. Make your operations more agile and efficient A key part of any strategic review is to focus on driving operational efficiency in the business. Review your operational workflows on an ongoing basis and look for inefficiencies you could remove, or efficiencies you could add. Embrace flexible models, like outsourcing or adaptive supply chain strategies . This gives you the agility needed to adjust your production or service delivery in response to changing demand or disruptions. 4. Strengthen your customer and supplier relationships Trusted relationships with your key stakeholders are a vital element of broadening your network, adding stability and making the company a stronger proposition. As part of your strategic review, analyse your existing customer relationships and supplier relationships . Look for simple ways to strengthen and nurture these connections. Customers want to feel valued, and suppliers are always looking for ways to build greater trust. So, make sure you’re building bridges, communicating openly and nurturing these critical relationships. 5. Invest in technology and data analytics Digital technology forms the foundations of any forward-thinking small business. Collecting and analysing data gives you the foundational information needed to make informed decisions during your strategic review. Use the latest data analytics tools to review market trends, customer behaviour and your own internal performance as a business. These outputs will provide actionable insights, making it easier to define your strategy and change direction. Let’s review your business strategy Doing business is unpredictable at the best of times. But taking the time to review your performance, strategy and business plan is a vital way to reduce this uncertainty. Book in some time for a strategic review of your business and let’s work together to spot the inefficiencies and find the opportunities for diversification and increased efficiency.
Without your customers, you have no business. It’s their engagement, loyalty and sales that power your cashflow and drive the business to new heights. But when was the last time you reviewed your customer service levels? And how often are you talking to your customers to find out if they’re happy, satisfied and still true advocates for the business? Let’s dive into the power of great customer service and asking for honest feedback. Why is customer service so important? We live in a hybrid world, where customer interactions are as likely to take place online as they are in person. Customers follow you on social media and advertising can help you target specific customer demographics with almost forensic levels of detail. But people buy from people, and that’s why treating your customers in an open, honest and welcoming way is so vital to the success of your small business. What do customers want from your business? Customer needs drive your business strategy (and if they don’t, then it’s time to review your strategy!). But what does the average customer want from your business? On the whole, customers want: Reliability : Customers want your small business to consistently deliver on its promises, and to deliver your products/service on time, every time, without excuses. Personalised service : Customers want to feel known and valued as individuals. They like tailored solutions and responsive communication that’s aimed specifically at their needs. High quality : Customers expect your products and/or services to consistently meet or exceed their expected standards. They want their problem understood and solved, quickly. Clear communication : Customers like your communication to be clear, transparent and as simple as possible. They want to contact you easily and get prompt responses to all enquiries. Great value : Customers expect a good balance between price and quality. They want a product that adds value, but at a competitive price that they feel is fair. Key ways to find out what your customers are thinking Building relationships, understanding your customers and learning their basic needs sits at the heart of tailoring and updating your business strategy. So, how do you find out what’s going on in your customers’ minds? Here are a few ways to gather customer feedback and insights: Post-interaction surveys Once you’ve made a sale, send the customer a short, targeted survey. Use this as a chance to ask why they chose your product/service and how they rated the interaction. Keep it short and concise, but look for the service pain points and highlight any areas that could be improved. Engage on social media Actively monitor and engage with customer comments, mentions, and direct messages on your social media platforms. It’s a good idea to use polls or direct questions to gather opinions and collate more customer data. This shows customers their feedback is valued and acted on. Direct feedback forms/buttons Put easy-to-use feedback forms or feedback buttons on your website, app and e-commerce store. This gives customers a convenient, non-intrusive way to share their suggestions or report issues. It’s quick, simple and gives you instant direct feedback from your customer base. Incentivised feedback programs Offer small incentives (discount codes, loyalty points) for completing surveys or providing detailed feedback. This boosts your response rates and encourages customers to invest some of their time in offering constructive criticism. Personalised follow-ups For more complex services or larger projects, make sure you have post-project meetings or personalised email/phone follow-ups with the customer. This is a great forum for customers to give feedback and get the snags, frustrations, high points and wins off their chest. You’ll get deeper qualitative insights and it demonstrates a commitment to open communication. Start talking with your valued customers Get in touch Your customer base is one of the most valuable assets in your business. So, make sure you’re using every channel possible to talk to your customers and meet their expectations. If you’re looking for more advice on relationship building, please give our team a call on 01904 787 973. We’ll help you improve your customer strategy and nurture your relationships.