When you’re running your own business, it’s inevitable that you will end up wearing a lot of different “hats” and taking on a range of different roles within the business. If you’re an entrepreneur who wants to ensure the continual success of your business, it’s worth considering an accountant for professional advice and assistance when it comes to your business’s finances. It could be the best investment you ever make for your business.
Staying on top of your small business’s finances is a big task, even if you aren’t expecting a huge income. Many businesses and entrepreneurs are operating on a limited budget, so it’s understandable that some may opt to try to do their accounts themselves. However, these people may be unaware of just what a difference having an accountant can make to your business.
A quality accountant can offer far more than just financial records, reports and services to keep taxes in order and ensure compliance. Their skill and expertise can offer businesses valuable insights, giving realistic advice on what it needs to do to develop and grow. Not only can they help make your business plan realistic and professional, but they can give it additional force and direction with actual figures and informed projections. As a business grows, finances can soon become complex. It can be difficult to stay in control of debtors and creditors, and stay on top of all legalities and compliance requirements as well as running the business.
An accountant’s advice is invaluable from the very beginning – and even before the business starts. Businesses can have many different types of legal structures – they can advise on whether your particular operation would be best operating as a sole trader, a limited company, a limited liability partnership or a partnership, avoiding any legal issue concerns. They can help businesses prepare for and source funding and investment, and advise, for example, on the best loans, overdrafts and opportunities for your specific business’s situation. Accountants can save business owners much-needed cash every year by, for example, using their expertise and knowledge in allowable expenses and tax regulations to minimise the amount of tax businesses have to pay.
Once your business is up and running, an accountant can help advise how to maintain its successful operation. They can use their independent, qualified professional outlook to review business data and provide insight on cashflow, profit forecasts and performance to inform your business decisions. The best part is that as well as dealing with tax and regulatory paperwork, preparing VAT returns, year-end accounts, calculating how much money a business owes HM Revenue and Customs in tax and national insurance, and dealing with all correspondence, it frees up time for business owners to focus on what they became self-employed to do – to run their own business.
Tax legislation is ever-changing and complex, making it difficult for a business owner to manage themselves. An accountant will always be on top of this, meaning you have the peace of mind that your business is always compliant, and you are always making the most of any potential savings available.
Rest assured you get far more than just “the numbers done” when you choose d&t. We’re proud to offer our clients a high level of business advisory services, with a 100% money back guarantee – so what have you got to lose? Contact us or call 01793 741 600 to discuss what we can do for you.