Your questions – answered: ‘Why do I need an accountant?’
This is a question most business owners find themselves thinking about, especially when they’re first starting out.
This is either because they’re aware of the fact many other businesses employ the services of an accountant or using an accountant has been recommended to them, or both.
Here’s our answer to this frequently-asked key question:
Using an accountant provides businesses with peace of mind that their financial affairs are in order, up to date and comply with the latest industry regulations and HMRC’s requirements (which can come with hefty penalties if ignored or missed).
Accountants are responsible for making sure individuals and companies maintain clear and accurate records of their financial performance. They also keep businesses updated on changes to the tax law, such as Making Tax Digital, and help them make the relevant adjustments so that their financial records adhere to the latest guidance.
While accountants may help businesses in areas, such as book-keeping and payroll, self-assessment and VAT returns on a day-to-day basis, they are also on hand to help business owners make informed decisions about their future direction.
Many leading accountants provide strategic financial planning and tax-saving advice that enable companies to save money. They can also help business owners make more money too by advising on the right wealth-building strategies.
Overall, their role is to implement efficient systems and offer proactive, hands-on support throughout the year that helps businesses grow financially stronger.
So many businesses organisations don’t use an accountant because they think it’s easier for them to take care of their financial affairs themselves or want to save money which, in some instances, may be the case.
However, with over 35 years’ experience of providing accounting and financial services, we’ve found that having an accountant in your team is always the best route. Especially when business owners become too busy to stay on top of their business’ financial affairs or find that taking care of their accounts is preventing them from spending valuable time on their business.
Are you unsure about whether or not you need an accountant? The quickest and easiest way to find out is by getting in touch with us for an initial consultation.
It’s free of charge, there’s no obligation to use our services and it will help you see why so many businesses (potentially including yours) do need an accountant. To arrange your free consultation, contact us on 01905 777600 or firstname.lastname@example.org