Are you a new business setup or an established company or even a self-employed, sole trader?
Do you understand the importance of hiring an accountant to manage your finances?
It is a fact that every penny counts when you are in business. Many business owners don’t realize that businesses fail due to poor financial management. The assistance through, the breadth of knowledge and experience that an accountant can provide for your business is extremely valuable. In the UK, companies, and individuals that provide accountant services do more than just tax filing. UK accountants can offer you a comprehensive assessment of your finances and create a forecast for the future to keep your business in a healthy and prosperous state.
Here are some distinct reasons why you need to hire UK accountancy services for your UK based business
- An accountant helps you achieve your business goals.
- An accountancy service can set up a long term business plan for your growth plans.
- A UK accountant can minimize your tax liabilities with your end of year tax returns.
- You can avoid audit with proper guidance and counsel of an accountant.
- An expert accountant saves you time and resources so you can entirely focus on your business affairs.
- You can make informed decisions with the proper consultation of an accountant
- An accountant with his skill and expertise may properly guide you throughout your business journey.
Areas of business a good UK Accountancy Service will cover
Good Accountancy Service providers will give you hassle-free core accountancy services and will cater for all business setups in the UK. They will cover all the financial aspects of your business. UK accountants should offer you professional tax advice whenever you need it. In addition:
- UK accounting services file end of the year tax returns in a skilled a professional manner.
- If you you need VAT registration, an accountant can assist you with the process of VAT registration and the filing of VAT returns every month or every quarter.
- An accountant can do all of your Companies House filings including you Annual Return and submission of your Confirmation Statement. Both are regulatory requirements.
- An accountant can prepare your payroll in a skilled and transparent manner.
- A good accountant will provide you with company formation services so you an create a UK Company to trade through.
A good accounting service can be the backbone of a business, whether it is a smaller business set up or a big company.
What to look for when choosing an Accountant
When you are going to hire an accountancy service, you should look beyond the fee that they charge. Selecting an accounting partner requires good research and due diligence. You need to see whether the accountant can help you reach your business goals. Take into consideration the following:
- Does your accountant have up to date knowledge and qualifications in accounting? Do they have an understanding of UK tax laws and a good insight into basic business issues?
- Look at the reputation of the Accountant. Can you assess their feedback from other customers?
- Pricing is an essential factor. Does an accountant charge based on your turnover or the amount of work that they have to do?