Five reasons why your business needs an accountant
Whether you run a large, multinational corporation or a small, independent business, making sure your finances are in order is imperative to success. After all, if you’re missing the mark where you could be making a profit, or you’ve accidentally paid far too little in tax, you could find yourself facing a series of problems.
For this reason, it’s highly recommended that every business hires a dedicated and qualified accountant. There are countless reasons why, but here are five of the most important.
Between keeping your customers happy and making sure your employees are working efficiently, you’ll find little spare time as a business owner. When you do find a spare minute, it’s highly unlikely you’ll want to spend time updating your company’s payroll or tax planning. Fortunately, when you hire an accountant, you’ll have everything taken care of for you, giving you more time to spend on running your business.
Even a small data-processing error could cause a host of issues when it comes to taking care of your business’ finances, so it’s highly important to make sure your accounts are examined and updated with the highest level of accuracy every time. You don’t want to upset your employees by underpaying them or have the government on your case following a mistake on your tax returns, so save yourself the hassle by hiring a qualified accountant to do the job for you.
While it might be tempting to save money by doing your accounts yourself, without the relevant skills and expertise of a professional account you could end up missing valuable opportunities to cut your expenditures and save money. An experienced accountant will be able to spot areas where you may be able to eliminate unnecessary outputs and costs, helping your business run much more cost-effectively.
Stay within the law
When it comes to accountancy, data-processing errors and fudged figures are more than just frustrating. Failing to submit accurate tax information to HMRC or accidentally paying your employees less than they’re legally owed could see you facing legal investigations or charges. As a business, it’s imperative to do all you can to stay on the right side of the law – including hiring a trusted accountant to check the accuracy of your financial records.
If you’re hoping to grow your business in the near future, one of the most important factors you’ll need to consider is your financial position and budget. After all, if you can’t predict what your turnover will be for the next few months or financial year, you’ll struggle to make important decisions that could ultimately transform your business. Whether you’re hoping to merge with another company or you want to expand your workforce, hiring a dedicated financial advisor to help you predict and plan for all eventualities is essential to success.
If you’re looking for qualified and experienced accountants in Guildford, look no further than AS Taxation Ltd. We work with clients across a broad range of sectors and offer a comprehensive list of accountancy services, from PAYE returns to VAT registration. We pride ourselves on our ability to provide bespoke services to our clients in Guildford and go above and beyond to help the businesses we work with thrive.
For more information about us at AS Taxation Ltd or for a free, initial consultation, get in touch with our team of Surrey-based accountants today.
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