As a business owner, it’s only natural that you are passionate about what you do and want to dedicate as much time as possible to the success of your business. The challenge often lies in finding the time to focus on what you love while ensuring the efficient running of your business.

As leading accountants to Owner Managed Businesses (OMBs) in the East Midlands, we understand the many everyday pressures for an owner manager. Our specialist advisers are highly skilled at removing the many burdens from business owners while helping them to achieve their ambitions. Whether you are an entrepreneur, run a family business or own an SME, we offer flexible support that you can depend on, designed to help your business flourish at every stage of its life cycle.

From starting a business to planning your exit, our specialist team of advisers have the industry experience and expertise to guide you through the process, while helping you through the common hurdles of an owner manager. These issues include:

Red tape and bureaucracy

The primary cause of instability for owner managed businesses is the ever-increasing pressure of regulation. For incorporated businesses company accounts must be reported accurately, made publicly available and within a certain time frame to comply with strict government regulations. Due to recent government regulatory changes, many owner managers are finding tax regulations confusing, with new minimum wage and overtime regulations overwhelming many businesses. For this reason, it is important that OMBs have the reporting structure in place with all compliance boxes ticked. Duncan & Toplis’ accounts and tax teams are available to take care of your, accounting, financial reporting and audit needs to ensure that your business is covered.


Understanding the types of tax applicable to you and your business is of key importance for ensuring tax efficiency and eliminating any risks of unexpected cost. This includes Corporation tax, VAT, Capital Gains Tax, National Insurance, PAYE, Capital Allowances and personal tax, including for succession purposes. Many businesses are affected by tight tax restrictions and more questions are being asked around the ethics of tax avoidance so OMBs, like all businesses, face increased monitoring in relation to tax and finance. As a result, it is crucial that your accounts are managed efficiently and accurately – which is where Duncan & Toplis’s tax services can help.

Making Tax Digital

As the government continues apace with its digital strategy businesses will have to provide more information about their financial and tax affairs on a timelier basis. This will require businesses to have accurate financial information available not only at the year end but also throughout the trading year. It is important that businesses are prepared for the changes this strategy will bring over the next few years and for those needing to modernise their record keeping, the D&T ONLINE service will help businesses get to grips with the requirements.

Filling the skills gap

Some small businesses are finding that there is a lack of skilled staff available in the employment market which is restricting business growth. Recruitment is more difficult for less established companies, making the cost of talent resourcing high and employee retention a top priority. Without appropriate HR support in-house this is an area employers struggle with. Duncan &Toplis’s employment team are experienced at advising on performance management, payroll and HR practices to ensure you keep costs to a minimum while retaining your most valuable employees.

Cash flow

Many successful businesses find the management of cash difficult, especially in times of growth. The ability for a business to have sufficient cash to maintain its working requirements and take advantage of opportunities is critical to the success of any business. Duncan & Toplis can provide specialist advice on maximising use of working capital, budgeting/cash flow forecasts and strategic planning to ensure firms are able to deliver services with minimised impact on business finances.

Supply chain bullying

The current issue of SMEs being locked into unfair pricing and payment practices from multinational organisations is proving particularly challenging for owner managed businesses. Issues such as excessively delayed payments and retrospective discounts are common poor payment tactics imposed by some large suppliers. These demands place small businesses at risk of failure and can be difficult to handle as a sole business owner operating alone. In these scenarios, OMBs are best off seeking advice from financial experts to identify the risks, prevention measures and how existing concerns can be addressed.

Pension Auto enrolment

Like all businesses, OMBs are required to comply with workplace pension auto enrolment. With penalties for those who do not comply, it is advisable for firms to plan ahead of their duties start date. Our dedicated payroll team can help significantly reduce administration time in processing auto enrolment.

Help you can depend on

Whether you are looking to restructure your business, experiencing issues with expansion, having difficulty with succession planning or are simply seeking tax advice, our dedicated team are available at every stage of the process to ensure that your business is taken care of.

For more information, please contact

Profile photo Simon Shaw

Key contact

Simon Shaw

t. 01636 640321