The benefits of appointing a specialist accountant

As a small business owner, your accounting duties can sometimes start to get in the way of what really matters to you – running your business. This is especially true for those who have newly incorporated, as the extra responsibilities that come with a Limited Company can start to stack up. Whilst it’s tempting to try to do everything yourself, sometimes it’s just not feasible.

In this blog, we’ll cover the main advantages of appointing a specialist accountant.

Support with the initial setup

Even before you start your first contract, an accountant can advise you on the most tax-efficient structure for your company. They can analyse your situation, expected earnings and industry to recommend the best solution for you, whether that be as a Sole Trader, a Partnership or setting up a Limited Company.

An accountant oversees the formation process, handling company registration, preparing statutory documents, and ensuring you understand all the legal obligations based on your chosen structure. Understanding how your business will function and your responsibilities will give you a solid foundation.

Saving time and boosting growth

Your time is precious, and accounting tasks like bookkeeping and tax work take up substantial amounts of it. Attempting to juggle these responsibilities yourself often leads to working excessive hours, cutting into time better spent on growing your business. Outsourcing accounting work to a professional firm will allow you to reclaim that time and boost your productivity.

Maximising tax efficiency whilst ensuring compliance

Your specialist accountant will analyse your situation, business type, and finances to suggest the best ways to maximise your tax efficiency. This includes balancing your salary and dividend payments, making sure you’re aware of any allowances you can use, properly claiming your expenses, and any other strategies that are relevant to your business.

Your specialist accountant will ensure that your returns are submitted correctly, and on time, giving you peace of mind that you won’t have missed a deadline or incurred any penalties for errors/late filing. They’ll do all of this whilst remaining fully compliant with all of HMRC’s rules and regulations.

Benefit from expert advice

As a business owner trying to go it alone, it can be difficult to keep up with the nuances of VAT compliance, allowable expenses, tax regulations, capital allowances, and many other important financial changes that affect your business. Luckily, specialist accountants are trained experts. They can help you navigate these changes, find what’s relevant to your business, and allow you to stay compliant and improve efficiency.

With SG Accounting, you have access to unlimited advice from your dedicated accountant. So whether you’re worried about how new tax changes will affect your bottom line, or if there are any allowances you haven’t claimed, your accountant is here to answer your questions.

How SG Accounting can help you

At SG Accounting, our team of specialist accountants are here to help with all of your accounting needs and offer expert advice. Get in touch with us today to discuss how bringing our accounting expertise on board will benefit your business.