As a small business owner in the UK, filing tax returns can be a daunting and time-consuming task. However, it is a crucial part of running a successful business. This is where an accountant comes in. An accountant for business can handle your business tax affairs, leaving you to focus on running your business.
Why choose a Courtier & Courtier accountant for business?
– Bookkeeping and accountancy services and advice
We are distinct from your typical accounting company for a very straightforward reason. As a family-run company, we understand the needs of small business owners. We keep our services direct and personal, and we are always available when required. We are pleased to note that we have a very high customer retention rate, which by itself is evidence that Courtier & Courtier provides both a professional service and a personal touch.
What does an accountant do?
SME accountants (Small and medium-sized enterprises) are financial professionals who are responsible for a variety of tasks related to financial reporting, analysis, and management of small to medium-sized businesses. The specific duties of an accountant may vary depending on the type of organization they work for, but some common tasks that an accountant may perform include:
Financial record-keeping: Accounting for SMEs are responsible for maintaining accurate financial records for small businesses, organisations, and individuals. This may involve tasks such as bookkeeping, payroll, VAT returns, maintaining ledgers, and reconciling bank statements.
Tax preparation: Accountants help businesses and individuals prepare and file their tax returns, ensuring that they are compliant with corporation tax laws and regulations and that all correct fees are paid to HMRC.
Financial analysis: Accountants analyze financial data to provide insights into a company’s financial performance. This may involve analyzing financial statements, creating budgets, and forecasting financial outcomes.
Auditing: Accountants may conduct audits of clients’ financial statements and year end accounts to ensure that they are accurate and comply with accounting standards.
Early stage accountancy advice: Accountants may offer advisory services to businesses and individuals on a range of financial issues, such as investment strategies, business valuations, tax advice, and financial planning.
In addition to these tasks, accountants may also provide guidance on financial management, assist with finances and forecasting, and help business owners and individuals comply with regulatory requirements with the help of specialised accounting software. Overall, the role of a good accountant is essential to ensuring the financial health and growth of businesses and individuals.
The benefits of using accountants for small businesses
Experts in accounts
Accountants are trained and qualified professionals who have in-depth knowledge of tax-related matters. They keep up-to-date with changes in tax legislation, which means they can offer you expert advice on how to minimize your tax liability. They can help you to identify tax deductions and credits that you may not have been aware of.
Small business accountants save you time
Preparing and filing tax returns can be a time-consuming process, especially if you’re not familiar with the process. By outsourcing this task to an accountant, you can free up your time to focus on running your business. This can help you to be more productive and efficient, which can lead to increased profits.
Professional accounting avoids errors
Tax returns can be complex, and errors can result in penalties and fines. By using an accountant, you can avoid making costly mistakes. Accountants are meticulous in their work and will ensure that your tax returns are accurate and submitted on time. They will also provide you with advice on how to avoid future errors.
A small business accountant gives you peace of mind
By using specialist small business accountants for your business tax affairs, you can have peace of mind knowing that your tax affairs are being handled by a professional. You can be confident that your tax returns are accurate, and that you are compliant with tax legislation. This can help to reduce stress and anxiety, allowing you to focus on growing your business.
In conclusion, using small business accounting services in the UK can be highly beneficial. The best accountant can provide you with expert advice, save you time, help you to avoid errors, and give you peace of mind. If you’re not currently using an accountant for business tax efficiency, it’s worth considering the benefits that they can offer for a sole trader or larger business alike.