16 Finance, Legal & Accounting Cash in the cloud


Empower your business with these intuitive and aff ordable online accountancy platforms. Words: Jack Carter


12TH FEBRUARY 2024 BUSINESS GUIDE DISTRIBUTED WITH T e platform caters to small


businesses in the UK by off ering simplifi ed bookkeeping, with its clever, easy-to-understand interface showing you how much you owe your suppliers, while helping you maintain a clear view of your fi nancial health. Its AI-powered software can help you create invoice templates which you can customise with your logos and company branding and it can even automatically calculate tax each time you add a new item to the bill. And if you’re worried about how much of your day-to-day is spent on accounting, Clear Books’ timesheets feature allows you to see which tasks are taking up the most time so you can plan more effi ciently. clearbooks.co.uk Pros: simple interface and intuitive invoicing Best for: time-poor founders looking to outsource their accountancy needs Price: from £6.50 a month


For medium-sized businesses Staying in control of your books as your business scales up is vital, particularly as things like payroll and managing revenue streams become more complicated. KashFlow launched in 2005 to


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Are you tired of letting the day-to-day rigmarole of accounting get in the way of running your business? Whether you’re an up-and-coming start-up or a multi-national corporation, the benefi ts of having a plug-in-and- play accountancy platform that can


intuitively deal with your taxing, payroll and HR could help you save an awful lot of time and hassle in the long run. Here, we break down the best software options on the market for small, medium and large businesses so you can leave the bean counting to the experts.


For small businesses It hasn’t been an easy time for start-ups, with rising infl ation and ongoing supply chain issues meaning that a few poor fi nancial decisions could have long-lasting eff ects. T is is where an accountancy platform like Clear Books can help.


prevent growing businesses from becoming inundated. Its cloud- based software automatically updates VAT and submits payments directly to HMRC so you never miss the tax return deadline, while its smart reporting system means you can quickly view previously submitted returns. However, it’s KashFlow’s payroll software where business owners will see the largest benefi t. T anks to its automated


Navigating mergers and acquisitions Legal insights from a corporate law perspective


Mergers and acquisitions can serve as valuable strategic tools to accel- erate the growth of a company. T e team at TLT provide a high-level overview of the practical consider- ations regarding the implementa- tion of acquisitions from a corporate law perspective. T e fi rst and arguably most


important stage of an acquisition involves comprehensive due dili- gence on the legal, fi nancial, tax, technical and commercial aspects of the acquisition target. Ordi- narily, this is conducted prior to negotiation of the fi nal commercial terms, such that any issues identi- fi ed can be addressed, either by a price reduction (for any material ‘red-fl ag’ issues) or by protections in the transaction documents. T is can be achieved through a number of means, such as: • the inclusion of warranties or indemnities;


• bespoke pricing mechanisms — i.e., deferred or conditional consideration;


• requiring that the seller delivers evidence prior to or at completion demonstrating that the relevant issue has been remediated; or • obtaining third-party insurance.


To minimise uncertainty in the process, it’s crucial to identify at an early stage whether there are any third-party consents required before the transaction can proceed.


more attractive where retaining ownership


and


T e fi rst stage of an acquisition involves due diligence on the legal, fi nancial, tax, technical and commercial aspects of the acquisition target. Ordinarily, this is conducted prior to negotiation of the fi nal commercial terms


For example, consents may be required from key customers or suppliers if their contracts have ‘change of control’ clauses, lender consent may be needed under fi nancing documents, as well as any regulatory consents, for example, change in control notifi ca- tions to the FCA and/or the PRA, or the Investment Security Unit where the acquisition has national security implications. It’s also important to consider


how an acquisition will be fi nanced: whether that be through pre-existing cash held within the acquirer’s group, or external debt or equity funding. At a high-level, debt fi nancing is often


control of the


company is a key consideration, as it provides predictability in fi nancial planning and cash fl ow management. On the other hand, equity funding provides more fl exibility as it typi- cally doesn’t impose fi xed repay- ment obligations on the company but instead enables investors to partici- pate in the equity upside linked to the success of the acquisition. Finally, there’ll also be a number


of practical matters to consider, such as strategic planning and post-ac- quisition integration. T is can include restructuring operational processes and corporate govern- ance, employee communications and aligning corporate cultures.


ADAM KUAN


To minimise uncertainty in the process, it’s crucial to identify at an early stage whether there are any third-party consents required before the transaction can proceed


For further information:


Adam Kuan, corporate partner at TLT — E: adam.kuan@tlt.com T: 0 333 006 0025 Joe Gallon, corporate associate at TLT — E: joe.gallon@tlt.com T: 0333 006 1093


JOE GALLON


payroll service, wages and holiday pay can be processed in one go at the end of each week or month without requiring any extra user input, and because it’s all stored in the cloud, employees can access payslips and their individual data from anywhere, at any time, to cut down on your admin. kashfl ow.com Pros: VAT-friendly and simple payroll integration Best for: fast-growing businesses eager to unleash their potential Price: from £8.75 a month


For large-sized businesses When it comes to large companies and businesses with global teams and complex needs, having an accounting partner with thousands of international clients on its books is a defi nite boon. Sage 200 is there to help large corporations deal with the changing business landscape as their operations expand, whether that’s compliancy with national and international data laws or assistance with HMRC regulations. T is clever all-in-one platform


off ers a vast array of advanced features, such as multi-currency support, automated invoicing and dynamic reporting to help you bring complicated data-based presentations to life. Sage 200 also integrates with Microsoft Outlook 365, Word 365 and Excel 365, so you can send and receive emails directly through the platform and build customisable documents and templates with ease. sage.com Pros: scalability and HMRC compliance Best for: global business with complex accountancy needs Price: call 0191 479 5988 for a quote


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