Case Study: When falling behind with the accounts starts affecting mental health

When you’re years behind in your accounts, it’s still not too late to make a fresh start

We understand that for many of our clients the relationship we build goes beyond the technical accountancy service we offer. The real difference we can make is supporting them when times are challenging and giving them confidence that we can help them resolve issues they face, no matter how bad they seem.

Case study: When falling behind with the accounts starts affecting mental health

For many of our clients there’s a lot more happening in their lives than just running a business. At times the pressure can become overwhelming, stress levels rise and this impacts on how effectively they can run their business.

This was the case for one business owner who came to us; he ran several businesses, had fallen three years behind in his accounts and tax affairs and his business faced closure, with a loss of his income and assets. Unfortunately, the pressures of what was happening had impacted his mental health.

It had got to the state when our client was getting stressed just by receiving mail, he was in denial of the situation and things were building up. He had developed a “brown envelope” phobia of receiving more demands and bills.

This already difficult situation was made worse because he was involved in a tax scheme that was now being reviewed by HMRC and there was every chance he could be facing a substantial retrospective tax bill.

Time to take action

Our experience of dealing with such matters meant that we could roll up our sleeves and pitch in to help:

• Within two weeks we had dealt with all the outstanding accounts and tax returns and got the businesses up to date;
• We had all his brown envelope mail redirected to us so we could deal with it immediately, lifting a big burden from our client; and
• We negotiated with the relevant agencies (banks, HMRC, lenders etc) on his behalf so everyone was aware of the situation.

We continue to support the client with his dealings with HMRC regarding tax and he is now up to date and feels able to move forward with the business. He has also been relieved of much of the stress that had built up over the years.

Now, both he and his new consultancy business are doing well, because he is able to focus on what he does best, his business.

We do more than just manage accounts

When we are approached by clients in the same situation, we are very aware that our service needs to go beyond accounts expertise. The stress of running an enterprise can impact heavily on a businessperson’s mental health and on their family. We are here to support our clients and their business to be successful and to help them reach a healthier and happier mental state.

This is what you can expect from us:

• Peace of mind that your accountant is on your side, knows your business and is invested in it as well as your wellbeing;
• Clear communication so you understand what needs to be done;
• Accessibility; we are there when you need to ask for help; and
• Support with growth and help for you to plan for longer-term objectives.

If you feel your business is struggling and it’s getting on top of you, we encourage you to call us straight away and ask for help. We don’t judge you or the situation you’re in, we’ve seen it all. What we do is help clients get out of difficult situations and set them on a path to running a more successful business and a less stressful life.

If you would like further information about how our specialist team we can help you, contact Black and White Chartered Certified Accountants today, or call us on 0800 140 4644.