This short video was a Christmas present from our friend Grant at Vibetech Media
As the year draws to a close it is a good time to reflect on the experiences that we have all been having over the last twelve months. To look at what works and what didn’t! One of the big changes I have made has been starting to give more than just accounts out. The really clever bookkeeping packages that are being increasingly used by lots of people do 90% of the accounts work for them and so I have introduced some different reports like the Financial Performance Review which shows your business in a way you have not seen before over the last 5 years, and the Benchmark report that anonymously compares your business with others in your industry to see what improvements can be made to help your results. These reports are proving so useful and so popular I am making them standard for everyone in 2013.
My plan to help clients grow in 2013 is by providing pro-active support, timely and relevant information, powerful tools to monitor progress towards known goals and a permanent record of all of this in “The Numbers” folder. The above short video gave you a taster of some of these…
If you haven’t had your Financial Performance Review and Benchmarking Report yet please get in touch and I will happily prepare them for you based on last years accounts for now.
I am also going to (try) make sure all clients have looked at either making a Will for the first time, or ensuring their current Will is up to date and relevant. Not because I am getting older myself and want to rub everyone’s mortality in their face – but because very few people are actually aware of the value of their estate that has accrued over years of which the business they own is a significant part. Everyone should prepare a Will to ensure everything they have built up throughout their lifetime gets exactly where they want it to go, exactly in the form they intend it to get there.
Too many people have left thinking about this until suddenly – it is too late.
Part of my remit is to ensure you keep as much of your generated wealth as possible throughout your lifetime, and then when you do shuffle off this mortal coil, you have no last minute regrets. I also want to preserve as much of your parent’s estate for you by looking at sensible planning they can do to minimise the impact of possible care home fees and Inheritance Tax so that they can pass on as much to you as they want to, again in the form they want you to get it.
Too many estates are broken up by poor advance planning and too many court cases are undertaken by aggrieved relatives contesting wishes they “assume” were intended for them as nothing was written down.
The worst scenario with an estate where there is no Will – is that the Government get the lot. There is no way I want that to happen to anyone I work with.
This exercise starts with the preparation of your personal balance sheet and includes a full business valuation each year. This means you can keep a handle of your total wealth regularly, ensure your Will is still relevant, and enable us to plan for the maximum money to be retained by doing some IHT planning each year as the rules change.
This is what pro-activity means to me – and I hope you find all these changes useful, relevant and something to tell your friends about!