If you have a small business you may wonder if it’s really worth paying for an accountant as they aren’t cheap. However, a good accountant should always be able to save your business more than they cost you.
Accountants usually are knowledgeable about new procedures and tax rules and can help you navigate through the very complex financial world of owning a business.
Most accountants can handle all areas of your financial matters for you, be it payroll and pension payments to book keeping and tax returns.
A valuable accountant will be able to guide your business into being tax efficient and help you really make the most of your business budget.
Generally you would send your account all your receipts and invoicing information and they will collate the data ready to submit for tax purposes. They would then advise you what needs to be paid to HMRC and adviser when your next accounts need to be ready by. The account can also advise on what things within your business are tax deductible.
Even a small one man band really can benefit from a great accountant so do your research and spend time finding the right accountant for your business.