1. When you are setting up, you’ll need an accountant to advise on your legal structure
Setting up a new business takes commitment and you’ll need to understand how to set up correctly.
Hiring an accountant means you can ask them these questions and they will help you get your business off the ground. They’ll help you get your finances and business structure right from the beginning so you can be reassured your business is compliant.
2. You’ll need an accountant so you can focus on growing your business
Sole Traders and Startups may decide to take care of their accounting obligations by themselves for the first year in business. But this can impact growth because business owners have less time to focus on other important aspects managing a business.
Having an accountant you can trust to take care of your accounting and compliance requirements relieves you of worry and stress about missed deadlines.
Many of our clients came to us because they couldn’t cope with the pressure of doing their own accounts.
3. You’ll need an accountant when your company’s finances become complex
Are you preparing to export or import from other countries? Do you need specialised advice about your financial situation? Having an accountant means you can reply on their advice and guidance when your company gets too complex.
For example, growing businesses may need advice on pensions, taking dividends or changing ownership. An accountant can support you with these changes.
4. You’ll need an accountant to file your tax returns and prepare financial statements
Another reason you need an accountant is to help you file your tax returns and prepare financial statements. It can be difficult for you to complete these yourself unless you are trained in accounts preparation.
Filing a tax return incorrectly could lead to you paying too much tax. Outsourcing this obligation to an accountant will give you peace of mind that your company is staying on top of Revenue and Companies Registration Office requirements.