FIM Accountants

FIM Accountants

FIM Accountants locationEdinburgh, Lothian

We pride ourselves on providing excellent advice and a first class service to our business and personal clients alike.

We have many clients in the local business community and service businesses, small and large, across many ss

The Service Secectors including:
Online Traders
The Professiontor
The Construction Industry
Manufacturers
Retailers
As well as general accountancy and tax skills, our dedicated team also have individual specialist skills which enables us to provide clients with a first class service as and when required. With our wealth of experience we pride ourselves on delivering a cost effective service to all clients, what ever their size or sector.

We work at a level that suits our clients’ needs from year end accounts preparation to providing a ‘virtual accounts department, we are there each step of the way.

In addition to traditional accounting and tax services we also provide advice on how to improve and develop your business. Whether you need an integrated business strategy, access to corporate finance or specialist tax advice we are here to help you achieve your goals.

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FIM Accountants Location

17 Farmstead Way, Bo'ness EH51 9RT, UK

FIM Accountants Q&A

FIM Accountants Q&A

What kind of accounting services do you provide?

At the FIM Accountants, we understand that every business owner needs timely access to accounting information. A good set of books is the basis for many key financial decisions, including tax planning. With our guidance you will have all the financial information you need to make the right decisions for the short and long-term success of your business.
We will help set up your books, provide guidance and get you going on the right track from the beginning. We can handle all your bookkeeping needs ourselves or we can train you to handle this yourself, in an understandable way.
We can also provide you with regular management accounts to keep you informed on essential areas such as:
Cashflow
Profitability
Performance ratios
Customer activity
Credit control
Budget comparisons
In addition we can also relieve your staff of the burden of preparing:
Payroll administration
VAT returns
Bank reconciliations
Annual accounts
For Perosnal Services, We can ease your burden of tax compliance, allowing you to concentrate on running your business by dealing with the following:
Advice on starting up in business including choice of accounting date.
Tax & NIC self-employed registration.
Liaising with your bank, building society, stockbrokers etc to gather the relevant data for your annual returns
Advice on allowable business expenditure.
Calculation of taxable trading profits.
Confirmation of the income tax and NIC due on trade profits.
Advice on VAT registration.
We also provide guidance on the optimum use of all available allowances and reliefs by advising on:
Capital allowances on assets acquired for use in the business.
Relief for trading losses.
Relief for overlap profits in the final year of trading.
Pension planning.

Why is it so important for businesses to hire a great accountant?

When you hire skilled accounting professionals, you create some insurance against ineffective or even faulty financial management. For each stage of development your small business is in, the right accountant can be a lifesaver.
When a business is in the startup phase, an accountant can:
Advise on what type of company to form (such as an LLC, C corporation or S corporation)
Guide the financial section of your business plan
Help you make decisions about how to maximize profit if your personal finances are tied to the company's success
When a business is operational, an accountant:
Manages day-to-day financial transaction recording and ensures it is compliant with the law
Finds cost savings with vendors, employees and office operations
Manages tax preparation, including all forms for employees and contractors, payroll tax withholdings and financial reports
Oversees payroll
Plans for changes in business expenses to ensure that additional costs do not cause financial hardship
Can design a financial safety net in case of a catastrophic event such as the death or disability of one of the business owners
During a growth period, an accountant:
Advises on how to handle financial growth by providing financial reports and insights on opportunity
Safeguards your small business against audit or helps work through the process if the company is audited by the IRS
Helps with planning expansion, opening new locations or even selling the business
If your business is in financial difficulty, your accountant can:
Identify problem areas
Write new plans to bring finances under control
Work with creditors to set up payment plans, remove liens and reduce interest charges

What inspired you to start your own business?

I had been employed for few years till one day I realised that the only thing I was doing was actually building others' dreams. I had a steady fixed income each month, that's great when you start a career, but I'm a dreamer and a visionary myself and I always knew I was destined for something great. I halted for a second to understand how the world works and it was time for reversing the equation. In the Real World you either be an entrepreneur, or you work for one. On that day I decided to wear multiple of hats till I let the world build my own dream.
My secrete recipe of success: All what I need is discipline, keep daydreaming, thinking outside the box and reading between the lines.

Why should our clients choose you?

We have grown gradually having developed from the core business of accountancy practice to now being in a position to deliver a wide range of business solutions. We have ambitious goals and objectives and we firmly belief that our Client’s success translates into our success.
We believe in providing our clients with professional advice and working closely with them to establish strong long-standing relationships. We aim to get to know our clients’ businesses in-depth, enabling us to easily identify problems and opportunities.
We can help you to focus your efforts and make the most of available resources. We think out-side the box to find solutions, making full use of new technologies, tax legislations, and trends to ensure profit maximisation and tax efficiency of your business.
We adopt a partner-led approach to deliver the highest quality of service to our clients. Our clients benefit from our fresh thinking, integrity, innovation, constructive challenge, proactive approach and practical understanding of the issues that they face on a day to day basis.

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