As marketing firms grow, their financial needs often become more complex. With larger teams, higher revenues and increasing operational costs, robust corporate accounting services are essential for ensuring smooth financial management and sustainable growth.
At Smith Butler, we work with small and medium-sized enterprises (SMEs), including larger marketing agencies, offering tailored accounting support to help businesses operate efficiently while meeting all their financial obligations. Here’s how we can support your marketing firm with practical solutions that deliver results.
The importance of tailored accounting services
Marketing agencies often experience uneven cashflow due to fluctuating client projects and seasonal campaigns. Additionally, managing payroll for creative teams, freelancers and contractors requires precision. Our corporate accounting services are designed to meet these unique demands, offering solutions that align with your business model.
For example, proper financial forecasting can ensure you have enough reserves during slower months, while structured budgeting helps prevent overspending on campaigns. By providing clear financial reports and actionable insights, we enable you to make informed decisions about future investments.
Compliance made simple
Staying compliant with UK tax regulations can be a challenge for growing agencies. From corporation tax to VAT, marketing firms must adhere to several reporting deadlines. The current corporation tax rate for companies with profits over £250,000 is 25%, while smaller companies with profits up to £50,000 pay 19%. However, firms operating in the marginal band (profits between £50,001 and £250,000) face a tapering rate.
Our accountants ensure all your submissions are accurate and timely, whether you’re filing your annual corporation tax return or quarterly VAT returns under Making Tax Digital (MTD). We’ll also help you claim available reliefs, such as research and development (R&D) tax credits, which many marketing firms can benefit from when developing innovative campaigns or tools.
Payroll and contractor payments
Managing payroll for a large team can be a time-consuming task, especially when balancing full-time employees, part-time staff and external contractors. Accuracy is essential to maintain compliance with HMRC requirements, such as Real Time Information (RTI) submissions and adhering to IR35 rules for contractors.
We use cloud-based payroll software to streamline the process. This allows us to manage PAYE, national insurance contributions and workplace pensions efficiently, giving you one less thing to worry about each month. Our team ensures all payments are processed on time, keeping your workforce happy and your operations running smoothly.
Cashflow management
A recent survey by the Federation of Small Businesses (FSB) highlighted that late payments remain one of the biggest issues for UK SMEs, with 52% experiencing delayed invoices. For marketing agencies, delayed payments from clients can disrupt cashflow, making it harder to cover operational costs or fund upcoming projects.
We help you set up effective invoicing systems and credit control measures to reduce late payments. Additionally, we offer cashflow forecasting to identify potential gaps and advise on how to maintain a healthy financial position. With these tools in place, you’ll have the confidence to take on larger clients and projects.
Strategic advice for long-term growth
As your agency grows, you may need to make decisions about hiring, expanding offices or investing in new technology. We provide clear, actionable advice to support these milestones. For example, we can help you assess the financial impact of hiring additional staff or leasing a larger office, ensuring these decisions align with your overall strategy.
We also advise on tax-efficient ways to reinvest profits into the business. This could include utilising the annual investment allowance (AIA), which currently allows you to deduct up to £1m of qualifying expenditure on equipment, technology or other assets.
Why choose Smith Butler?
We understand the unique challenges faced by marketing firms and offer tailored solutions to meet your needs. Our team combines technical expertise with a modern approach, leveraging cloud-based systems to provide real-time insights and support.
With us, you’ll receive:
- accurate financial reporting for better decision-making
- assistance with tax compliance and reliefs
- efficient payroll and cashflow management
- strategic advice to support growth and profitability.
By letting us take care of your finances, you can focus on what you do best – delivering exceptional results for your clients.
Looking for corporate accounting services for large marketing firms? Get in touch with us at Smith Butler today.