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Okay, so they may not have a cape or colourful tights, and they’re likely to have a perfectly ordinary name rather than ‘P65 Woman!’ or ‘Mr IR35!’ Nevertheless, a good accountant really can be your hero.

A good accountant will complete your tax return correctly and on time

A good accountant will know the tax regulations inside out. They will make sure there are no omissions or mistakes, and that your tax return is submitted on time.

This means your tax form won’t come winging its way back to you with a request to try again. It also saves you from the penalties you can incur if your form is incorrect or submitted after the deadline. It’ll be done in a flash.

Tax return services

They can reduce your tax bill

Tax accountants know all those odd things that you can claim for but never knew about. If they can claim it against tax for you, they will.

They know exactly what to submit and when to ensure you keep as much of your precious profit as possible, and can help you plan ahead to save as much tax as you can in the future.

 

They can save you time

Accountants can offer a range of financial services. They’re not just there to complete your tax return, unless that’s really all you require.

They can also handle all your bookkeeping and payroll requirements too, meaning you don’t have to spend hours trying to calculate maternity pay and national insurance. Because they do it all the time, they can do all these things in a fraction of the time it takes you, so let them. It frees up your time to do something more proactive for your business or career.

Your accountant can help with your business plan

Whether you’re just starting out or looking to expand, an accountant can give you advice and help. That way, when you present your business plan it will have the hard facts and figures it needs to win over investors, bank managers and grant allocators.

They can advise on personal and business finances

Whether it’s getting a loan, or how to make sure your personal finances are safe when running a business, an accountant can look at the whole picture. It’s their job to make sure that both your personal and business finances are as safe and healthy as they can be.

They may also be able to put you in touch with other professionals when you need them.

They can give you legal advice

We’re not talking about that ongoing dispute with your neighbour about her electrified fence; we (probably) can’t help with that.

But accountants can tell you what you should be registered and insured for, advise on the best business structure for your company, pointing out the pros and cons of partnerships, limited companies and sole trading… and lots more.

They can deal with the HMRC

Perhaps the greatest superpower your accountant has is his or her ability to be the point of contact with HMRC, dealing with any submissions, letters, phone calls, queries or investigations.

Now isn’t that a weight off your mind? And of course, your accountant may have a cape and colourful tights. Perhaps their real name is VatMan.

Our accountants don’t wear capes (not all the time), but they do offer a comprehensive range of online accountancy services to whoosh your business to the next level. Call 020 3355 4047 to talk to one of the team, ask for a free call back, or get an instant quote online

About The Author

Beth-Anne Bruce

I'm an experienced and fully AAT and ACCA qualified accountant, who is enthusiastic about helping business owners succeed. I also love cooking and needlepoint (at different times!). Learn more about Beth.

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