Deciding when your business needs an accountant is a strange task to complete but a necessary one for every business. Whether this is your fiftieth or first time as a start-up business, hiring an account is essential to your success.
Roger Hatherall & Co have accountancy experience with many businesses spread across a range of industries. If you require our services and guidance, we will always be available to help in Bath.
Whilst you may have a good understanding of your business finances, your accountant knows every little detail of registration, VAT and all your potential tax payments. Many start-up businesses may be prepared for these issues, however, if you do not have a good understanding, you could end up losing more money than necessary.
With an accountant in charge of all tax payments and your registration to pay taxes including VAT, all staff members and your business will be deducted the correct amount of money. It can always be a risk to complete these tasks yourself and if you are looking to save money and pay no more than you must, an accountant could be your best option.
Time & Errors
We are all human and making mistakes can happen in the blink of an eye and be hard to undo. Ensuring your financial information is correct the first time around is the easiest solution and hiring an accountant is the best way to do this.
Not only does outsourcing to an accountant give you more time to focus on your business, but mistakes will very rarely be made, with the correct accounting software always available. This means finances can be managed and monitored easily, deadlines will never be missed, and finances are unlikely to contain any errors, ensuring your business performance can always be evaluated effectively.
No Tax Pressure
Dealing with the HMRC in your first year of trading can be a daunting task on your own. You do not have to take part in any section of this process by outsourcing to an accountant as all tax returns can be completed by an accountant. Whether this is tax deductions from staff wages or the overall tax submission at the end of a tax year, there is no pressure on your or your business.
In addition to this, it can be difficult to keep up to date with any tax changes that occur, and deadlines can be missed easily if you are not fully prepared. Your taxes should always be prepared well in advance with the correct finances available to ensure this is done correctly. With our bookkeeping, taxes are prepared for your submission deadline and always paid on time to the HMRC.