Let’s face it, most of us don’t enjoy bookkeeping or accounting, but it is a necessary part of business that must be done. Many small business owners stay up late at night in a bid to finish their tax returns or update their books when they’d prefer to be in bed catching a much-needed rest.
Hiring an accountant is a sensible business decision, they can completely transform your company in more ways than one. They don’t just offer basic tax services or accounting services, they also help your business to grow.
Potential Downsides to DIY Accounting
As a small business owner, you often have to do everything by yourself. You simply don’t have the resources to hire additional personnel, so you take on the responsibility of completing your accounting and tax duties on your own.
But you must consider the disadvantages to this strategy:
- Little knowledge of the industry means you could miss out on much needed tax breaks.
- You neglect your accounts and fall behind on invoicing clients.
- You miscalculate your tax bill and face punishment.
- You’re late filing your tax returns and get fined by the tax man.
- You can spend hours and hours fixing mistakes because of lacklustre accountancy skills.
If you want to avoid these problems, get in contact with a company who specialise in small business accounting.
At Barron and Co, we offer bookkeeping services that ensure your accounts are on track, we are one of the country’s leading accounting firms who have a reputation for excellence.
Key Benefits of Hiring an Accountant
There are many ways in which a chartered accountant can help your business move forward, apart from ensuring your finances and taxes are carefully monitored.
Expert Financial Attention
When you decide to look after your own accounts, you rarely have the time to give them the attention they deserve. If you check your books ‘once in a blue moon’, it results in data-entry errors, misplaced documentation and missed tax breaks.
Using one of our expert accountants to manage your books means you’ll have accurate records to back up important documentation. We ensure you never fall behind by monitoring every aspect of your finances.
Dealing with Tax
Failing to pay tax on time can result in hefty penalties and interest. We’ve represented a considerable number of clients in the past who have lost a lot of money this way. If you work with a skilled tax accountant, you won’t miss any more important deadlines, helping you to avoid unwanted fines and interest.
Our local accountants will not only ensure your tax is done professionally, we also help to reduce the amount of tax you must pay by providing expert advice and assistance.
Increase Profitability
There are times when a once profitable business can become stagnant and require help from an innovative business accountant. We’ll help to increase revenue and focus on what drives profit in your company.
If you’d like to consult with a specialist bookkeeping tax accountant, fill out an enquiry form on our page or call us on 0121 274 9108 to discuss our wide range of expert services.