Accountants aren't just for Tax Returns
Remember back in January when you were completely stressed out about your tax return and wished that you had had someone on hand all year, not just January, keeping on top of your numbers, making sure you keep more of the money you earn rather than paying it in tax. These people do exist and WE are here to help you.
When you work for yourself or run a small business, every penny is important and keeping on top of where they are all coming from or going to is a job in itself. Give yourself a break and pass on all these jobs to us, you didn’t start-up your business to be a number cruncher, but we did. Here are 5 good reasons for hiring an accountant.
1. Time Having to do the paperwork can be time consuming and actually take time away from the task in hand (the one that you actually want to do). Employing an accountant, who is au fait with the latest tax laws, rules and regulations and deadlines, not to mention one who completely understands what format HMRC requires all the information in, can save you hours and hours.
2. Reduce your tax liability A good accountant will be proactive, not reactive, and will understand how to save you money and be able to give you good advice on the most tax efficient way of running your business. Knowing the best way to operate – whether it is as self-employed or a limited company – and the most tax efficient way to take money out of your company is something they will guide you on, based on your individual circumstances and situation. They will go through paying yourself through dividends, understanding what you can and can’t claim through company expenses and the benefits of using the flat rate VAT scheme.
3. Preventing fines Keeping on top of your tax submissions whether with the support of an accountant or not will help keep your company bank balance healthier by avoiding fines which can range between £100 to £1000s.
4. Help your business grow We make it our goal to understand and get to know the ins and outs of your business, we also take great pride in seeing your business succeed.
5. Reduce tax worries Tax can be complex and daunting. Depending on whether you are a Sole Trader, Limited Company or a Partnership, you need to: prepare your company year-end accounts, prepare abbreviated company accounts (if required), sort out your personal tax return, prepare corporation tax computations and Returns, VAT calculation submissions, liaise with HMRC and deal with Companies House. Accountants can help with all these aspects of your business and help reduce the worry that tax can bring.
At Seed Accounting we can prepare everything you need, saving you money and removing your worries, so you can get on with running your business. Get in touch today to find out more.