Finding an accountant
Having a good accountant could be critical to keeping your business finances in shape.
There are many ways that you can find an accountant and one of the most popular is by referral.
- Asking business contacts in your industry.
- Ask family and friends – for the best names in accounting can make a big difference to the way that you run your business.
When you are searching for an accountant, you need to think about the costs of an accountant, self-assessment costs and tax return costs.
The most important thing is that you need to choose an accountant who is a member of an official and professional accounting body, so that all of your financial dealings are handled by someone who knows exactly what they’re doing.
Universal Accountancy are accredited by ACCA, the global body for professional accountants and by Quickbooks as a certified professional advisor.
What Does An Accountant Do?
Apart from crunching your business numbers, most accountants do a huge range of finance-related tasks for your business.
Numbers are at the very core of the job of an accountant, but when you are working for yourself you need to think about bringing on a professional that can handle your finances all-round.
You could hire an accountant to handle one financial aspect of your business, or you could bring on an accountancy firm that handles your taxes for business and personal use as well as help you to manage your ongoing costs and accounts.
An accountant handles several financial tasks for their clients, and before you choose one you need to be very clear about what they can do for you.
The best known accountancy services are those that could succeed in managing your finances, helping you to pay your taxes and and handle your paperwork for you.
We’ve listed for you below everything that your accountant could – or should – be doing for you.
Help Filling In Forms
Your business model may be simple, but that doesn’t always mean that your tax needs are not complex.
You could be easily forgiven for thinking that you could handle your tax return on your own.
The problem is that when you’re busy completing contracts and managing your own workload, you don’t always have the time to get the paperwork done yourself.
If you complete a document incorrectly, you could incur costs with HMRC that you didn’t anticipate.
Missing deadlines is a problem, and using an accountant to help you with this is going to be the best thing that you could do for your business.
An accountant will go through your paperwork in the tiniest of details, so that no mistakes can be made.
Some of the forms that your accountant can assist you with cover the following:
Year End Accounts
The completion of the accounting period, your business needs to carry out specific tasks to close the books.
This is something that your accountant can handle.
Limited Company Accounts
When you move on from being self-employed to having a limited company, you still need to balance your finances and pay to have your accounts filed.
An accountant can manage this for you and ensure they are paid and balanced on time.
Small Business Accounts
Bookkeeping duties for small businesses are often time consuming, and the fees are absolutely worth it when you choose to have an accountant.
Not only can they minimise your stress, but they can focus on what they are an expert at, allowing you to focus on your actual business.
Sole Trader Accounts
It may not be a big job, but sole trader account management is still vital to the success of your business.
Make sure that you have the right accountant on your side.
Help With Your Tax Bill
Incorrectly completing the forms is a problem and if you’re not an expert in tax, it’s easy enough to make mistakes.
Completing all the forms correctly is one thing but doing it in a way that is going to be cost-effective is another.
At Universal Accountancy, we make sure that you can take advantage of every legal way to minimise your tax bill, which means that our service will pay for itself.
We know the ins and outs of tax law, as well as all the changes ahead in self-assessments and tax returns, which means that your tax is paid correctly.
Tax Return Help
Planning your tax return is more than just paying your taxes at the end of the year.
You need to consider that you need an accountant who will catch tax issues throughout the year rather than pull up any issues at the end of the tax year.
This can allow you to operate your business in a way that is more efficient.
The advice of a qualified accountant can be invaluable to your company as they can spot loopholes that you can’t and help you to reduce the risk of incurred fines because you didn’t pay your bill correctly.
At Universal Accountancy, we know that it can be much easier to have a full package on offer to you so that you can get all your accountancy needs under one banner.
This means monthly support so that your tax issues never become a surprise.
You can check out our website for our packages, which range in cost from £125+VAT per month to £195+VAT per month.
For self-assessment tax returns alone, the costs vary and contacting us for a conversation is your best option.
For all your tax and accounting needs, contact Universal Accountancy today for an in depth conversation about what we can offer you, what it will cost and how much you will save in the long run by using the services of a professional and reputable accountant.
The one thing you should ask yourself is how valuable your time is?
Because once you do that, we are confident that you will choose our service – every time.Contact us