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As accountants are tax specialists, anyone who is either required to submit a self assessment, the owner of a company, self employed or an employer, will benefit from hiring an accountant.

HMRC requires anybody who receives an income from which tax is not automatically deducted, to submit a self assessment each year. Examples of how such income could be earned include; renting a property, being self employed as a sole trader or in a partnership or owning a limited company from which dividends or an income is received.

If you are required to submit a self assessment, then signing up with an accountant could be a good move. They will keep on top of your deadlines and remind you when your tax return is due and ensure that you do not overpay on tax.

An owner of a limited company (who does not receive any income from it) would also find an accountant useful as, whilst they may not require an accountant to work on their behalf as there is no need for them to submit a self assessment, they are likely to need one to look after the accounts and returns for the company. Limited company accounts are a lot more complicated and time consuming that those for a sole trader business and therefore the expertise an accountant can offer can be a valuable investment.

Employers may also find it advantageous to hire an accountant to look after the payroll for their employees. Accountants can calculate how much tax and national insurance employees’ owe and also produce payslips for them.

The Accountancy Partnership act offers all the above services for a low monthly fee. For more details, or discuss anything you are still unsure of please do not hesitate to phone or email us, or alternatively, you can simply use the live chat link available.

About The Author

Lee Murphy

MAAT and ICPA accountant, with a passion for making accountancy and bookkeeping accessible. Other interests include cloud-based software development for web and mobile access, keeping fit, reading, and entrepreneurship.

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