Virtual Financial Director
Our VirtualFD initiative gives you all the benefits of having a Financial Director on your side, without exposing yourself to the complications, risks and drawbacks of actually employing one. It’s a service that’s perfect for forward-looking enterprises that are going places: those organisations and businesses who understand that in today’s commercial arena it sometimes pays to think differently and buck convention.
At Taxless we’ve seen first-hand how expanding businesses tend to grow to a point where their financial matters deserve the attention and expertise of a Financial Director. The problem is that more often than not, recruiting, employing and retaining a Financial Director is anything but plain sailing . In fact it’s a gamble that could cost you heavily or even have disastrous consequences for your long-term bottom line.
Cost– a full-time Financial Director is expensive, including recruitment fees, high salaries and all the benefits and entitlements that go hand-in-hand with senior positions.
Quality– recruiting a Financial Director who isn’t up to the job could be the last commercial decision you ever make. The person you appoint will have huge responsibility and direct control of your organisation’s finances: they need to be superb.
Timing– there’s a very good chance that you don’t actually need one full time. Great news you might think, except that finding a good part-time FD could take far longer than you can afford to be without one.
Continuity-A talented Financial Director is worth his or her weight in gold, but ironically that can create real difficulties and commercial vulnerability when they’re not around. Maintaining continuity and keeping things consistent is a must.
How does it work?
With VirtualFD, we’ll act as your company’s Financial Director by providing you with all the specialist skills, services and expertise you’d enjoy if you recruited one yourself. We’ll essentially become an integral part of your team, every bit as committed to your financial health, commercial success and continuing growth as you are. On a day-to-day level this frees you up to focus on running your business while we take care of the nitty-gritty financial stuff that gets in the way. In the long run, a move like this could prove the making of your business.
Some of the practical benefits of VirtualFD include:
- Attendance at monthly meetings
- Monthly management accounts preparation and/or review
- Budget preparation and monitoring
- Rolling cash-flow forecasts
- Dependable, consistent availability and communication throughout the course of the partnership
- Direct contact with your bank manager and/or other key business relationships
- Support and/or training of the accounts team
- Annual compliance service for year-end accounts, audit and taxation (business and personal tax)
- Unlimited access to the entire Taxless team, not just the board’ member
Who does it suit?
We’ve never believed in a one-size-fits-all approach to accounting, so our VirtualFD service is always carefully designed around the very specific needs of individual clients. This means it’s suitable for a wide range of businesses and situations, although in terms of the company lifecycle it generally comes after our Start-up and BoardView services.
Typically, VirtualFD is used by forward-thinking organisations that have reached the point where the expertise of a Financial Director is the only way to safeguard its financial interests and the best way to guarantee its continued growth.
from £999 pounds plus vat per day