By John T Hughes
Your accountant is likely to play a pivotal role in the financial running of your business therefore it is important that you choose wisely.
With a growing number of accountants around working in different ways, offering different services and charging different fees, it is important that you make informed decisions to establish the ones best suited to your business needs.
In this article, we will address three key factors which you may wish to think about when you are considering accountancy provisions for your business.
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Guest Blog by John T Hughes
For many business owners, year end accounting requirements can be extremely time consuming and often confusing. Being a successful businessperson does not automatically mean that you are a tax and accounting expert.
Unfortunately this does not make your year end accounts any less important. At the end of each financial year, companies registered with Companies House are legally required to submit their year end accounts. These address your profits and losses for the year and show you how much that your company is worth. In addition to this, your year end report will form the basis of your tax returns.
Because of its importance, it is key that the accounts are prepared accurately, in the correct format and delivered to the Companies House on time. Heavy penalties can be incurred for year end accounts which fail to meet the Companies House’s deadlines or requirements.
Avoid the last minute rush
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Guest Blog by John T Hughes
Be it returns, plans or self-assessments; managing tax affairs can often seem complex and daunting. Yet with millions of people unsure if they are paying too much tax, it is important that we are well-acquainted with the facts.
As the familiar buzz of payday excitement arrives at the end of the month, we are all looking forward to our bank accounts refilling. But how many of us have endured that heart-sinking feeling as we scan through our payslip to see how much has been eaten away by tax?
Obviously, we cannot deny the benefits that we receive by paying tax but with as many as 10 million people due a tax rebate, it is important that we ascertain whether you are paying the correct amount.
Underpayments and overpayments
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From what our new clients are telling us, most clients will put up with significant levels of abuse, poor client service and mistakes before they will even consider moving accountant. Now this makes us angry, as we believe that every client deserves a high quality and responsive service from their accountant. So, we started asking our new clients, exactly what stopped them from changing their accountants.
1. They thought the process of moving would be long and laborious
It needn’t be this way. All you need to do is find yourself a new accountant and tell your existing accountant that their services are no longer required. We even have a standard letter, which you can use to do that – or we can send on your behalf. Your new accountant will then write to your accountant and start the handover process.
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