Why should you get an accountant?
Running a small business often means that in order to save money, you need to do a lot of the tasks that come with business ownership by yourself. However, certain tasks are always best left to the professionals, especially accounting. While there are several accounting software tools on the market now that you can take advantage of doing your own books. It’s always best to have a professional accountant by your side who can ensure that everything is accurate and provide you with the best financial advice for your business.
If you only pay tax through your employer’s payroll (PAYE), then you may not ever need an accountant, but these days many of us are finding that earning has become more complex than that. The internet has made freelancing increasingly viable.
Saving you tax
An accountant keeps up to speed with the complex and ever-changing tax laws, so they know all the ways you can legally reduce your tax bill. This doesn’t mean complex tax-avoidance arrangements, just sensible use of legitimate methods such as allowances, expenses and offsetting losses or changing the way you draw income from your business.
Setting up yours business
If you putting together a business plan, an accountant can help turn your vision into a solid prospect. Even if you’re brilliant with figures yourself, your accountant can offer an expert second opinion unclouded by emotion or bias, and may also be able to offer valuable input to enhance your own ideas.
Our accountants aren’t here just to help with finances, our support can improve your whole business setup. As your business grows, they will be able to run you through various options available and point you in the right direction if you decide to change the structure of your business.
Although you’ll still be legally responsible for their accuracy, you can handover full management of your accounts to your accountant. This means they be able to do everything on your behalf, from completing your tax return, managing PAYE to filling your accounts with Companies House. You could even nominate us to manage your communication with HMRC.
Cash Flow forecast
Cash flow is lifeblood of businesses and is cited as one of the most common reasons for business failure. Putting together a forward looking 12-month forecast will help you better plan any shortfalls, as well as identifying whether you will need to take out a loan or raise equity finance
We can help you every step of the way
As you can see, accountants can help you out, during every stage of your company development. That doesn’t mean you have to hire one, but the right accountant will make life easier for you