Why do you need an Accountant?

If you believe some of the pub gossip, we accountants are one of the parasites of society. We don't after all create anything and the work we do could be done by anybody.

The theory is that all you need to do when you start a business is to buy a computer and a simple accounts programme and off you go. There is just one small flaw to this approach. The people in the pub who are promoting this theory, don't actually run businesses themselves and their personal tax affairs are pretty simple so they have never had the need to use an accountant.

People who do run their own businesses or have more complex tax affairs and who employ accountants will tell you a different story.

So why do you need an accountant?

To our clients we act as their back-office and their confidant on all matters financial.

In business

As their back-office we perform some of those routine jobs that business-owners are often not quite so keen on - like the bookkeeping, VAT returns, and payroll. By doing this work we are able to provide clients with regular updates showing how their businesses are performing. This work is vital in helping our clients to plan for the future. The problem for businesspeople is that there are only 24 hours in a day and time spent on paperwork often means less time spent generating new business. By performing this work in a timely manner we relieve our clients of this burden and allow them more time to concentrate on running their businesses.

We also prepare our clients annual accounts and tax returns. Being experts in this field we can advise clients how to reduce their tax bills and how best to present their accounts to best effect for their customers and suppliers.

As the entrepreneur's confidant we give professional and impartial advice on all aspects of running and developing a business. This is based sound technical knowledge and years of experience in dealing with businesses with similar issues. Business is harsh and unforgiving, and you cannot make too many mistakes. By discussing issues with us, clients can make more informed judgments and hopefully make less bad decisions.

Tax planning is another important element which needs to be addressed on a regular basis and a good working relationship is key to ensuring that any tax saving opportunities are recognised at an early stage.

At home

As our clients' back-office we sort out the annual panic, yes the tax return. With self-assessment, tax returns have become more complex - not less. A recent survey undertaken amongst House of Commons MPs showed that over 60% of them did not prepare their own returns. Bearing in mind the large majority Labour now has in the House of Commons, this is a startling admission.

As your confidante we can give impartial advice on any money issues you may have. Its an unfortunate fact of life that as soon as you have any spare cash lying around, three people will tell you how they can multiply it for you. It you are considering taking any of these proposals seriously then you should talk it through with somebody who can give you sound independent professional advice. As accountants we are asked to advice on a wide range of situations and it is likely we have probably come across this situation before. We will even tell you how to structure the deal to your best advantage to you can claim any tax relief that might be available.

If you would like to know more about the services we can provide you at home or in business then please contact us