It’s the new tax year and with that we’ve been reviewing how best to service our clients in 2024. One area we realised we could not only enhance but also streamline, was the accountancy service we provide our associate clients; while keeping the costs competitive.
We know that associate dentists have the potential to be very high earners but we noticed that many didn’t realise the options available to them to get more from their business. As an associate, you need to be in control of your own business. You are self employed and this brings an array of flexibility and possibilities.
Setting up a limited company is a simple process for associates for example. One month you’re providing your services as an individual, the next your company is providing them. However, there are many elements that can make your new company a potential to retain more of your earnings but if not executed correctly you won’t see those benefits. This is where Associates’ Club comes in.
Here is what is included.
COMPLIANCE
Although not the most exciting element we offer, it is the least you should expect from your accountant. Your annual tax return and accounts (if needed) will be completed and HMRC/ companies house dealt with on your behalf.
TAX SAVING
We know that saving tax is something most clients are keen to do. We meet with you periodically to chat about your circumstances and the things you can do to improve your tax position.
OUR NETWORK
You’ll have access to our network of financial advisers, finance providers, brokers, bankers, loan providers and many more. We can put you in touch with the best we’ve found to give you all the information and options you need to be financially happy.
EDUCATION
It is no secret that at Hive Business we take education very seriously, we believe in the saying ‘Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime.’ Now, we aren’t experts on fishing I’m afraid but we provide excellent business training. We have a dedicated learning portal you can use at a time that suits you which explains your financial information, some reflection exercises and much more. This is something we think will help you get a better understanding of your dental business.
PRACTICAL TRAINING
Included in the education but more practical for your day to day use, is training on how to use your cloud bookkeeping software (Xero). Our video platform will guide you through the commonly used features and if you have any questions our Xero experts are on hand to help you.
YOUR NEXT STEP
We know many associates have an ambition to buy a practice, we offer everyone in associates’ club a complementary conversation with one of our consultants from the Sales and Acquisitions team. They will help you plan for purchase or advise you on the other ways you can progress your business to generate the best financial outcome .
ACCESS TO EXPERTS
We now have a support inbox you can message anytime to get a response the same working day. Our full team is on hand to reply to your queries and share the top tips you need. Email support@hivebusiness.co.uk.
Our enhanced service ensures you’re getting the most out of your finances with access to our dental specialist advisors. We create value for your business not just by delivering services, but by curating the perfect team and specific combination of services to get you where you need to be.
We hope you will be excited to join Associates’ Club and this is now the standard service we offer our self-employed associates. We understand that everyone is working to keep costs low – including here at Hive. This service will see efficiencies in our processes passed on as financial savings to you – but an enhanced service. Win win all round.
If you have any questions or you’d like to discuss joining us, get in touch.
