Five Reasons Why You Need an Accountant in your Life
When you’re running your own business, it’s inevitable that you’ll end up juggling different roles, however accounts doesn’t have to be one of them.
Hiring an accountant is one investment that can really make a difference to your company’s growth and revenue; whether you’re writing a business plan, dealing with tax compliance, avoiding legal and compliance issues, communicating with the HMRC or enduring a tax audit, the expertise and knowledge of an accountant is invaluable.
So here’s five reasons why getting yourself a good accountant is worthwhile!
Stick to what you’re good at
Starting your own business generally means you’re pretty good at what you do, so stick to it! You have your areas of expertise, and so does your accountant, so let them take the reins and get on with what they know best.
Save your precious time
Imagine what work you could be doing when you’re not organizing your receipts, deciding what expenses you can claim or having a breakdown over your self-assessment tax return form? An accountant can take on all that tricky, boring work for you, leaving you to spend your precious hours on getting work done.
Reduce your stress levels
What with juggling between landing new contracts, completing work, looking for new work and marketing ourselves, contractors don’t have a totally stress-free life. So the last thing they need is the stress of worrying if we’ve completed their tax return correctly and if we’ll get it filed on time. This is where you should let your accountant handle that stress for you; make filing your tax return on time their responsibility not yours!
Keep more of your money
With accountants understanding the tax world inside out, they will know exactly what you can claim and how to claim it for you. Not only will they ensure that every allowance and expense is credited, but you’ll be left with as much of your income as possible.
You want meetings with clients, not the HMRC
Having an excellent accountant by your side will help you avoid tricky conversations with HMRC.
- They ensure that your tax return is completed correctly and filed on time, thus avoiding penalty fees.
- They handle the majority of communications with HMRC on your behalf.
- By them simply being an accountant will help YOU as the HMRC are less likely to investigate or businesses whose finances are overseen by an adviser.
With Walker Smith, you are supported by dedicated accountants based in the UK who only work with contract workers, so offer specialist advice on managing your finances.
We have packages tailored to provide you with everything you need to manage your invoicing, payroll and tax affairs with minimum stress and admin.
Call us today on +44 (0) 161 359 3235 to find out how more how our expert accountants can benefit you and your business.