When a person sets up a company, it’s rare that they will be able to do everything on their own.  They may need some extra help with their computers or marketing. The accounting aspect is another area that people often delegate.

Accountants don’t just process invoices and submit tax returns. When they are certified and qualified, they have far more to offer. Let’s spend some time now to consider how an accountant could benefit your business and make it grow.

They Can Provide Free Help

Whilst accountants exist to make money, there are certain things they can provide without charge. At the initial stages accountants such as MCL Accountants often provide free quotes for their services. They may also be prepared to conduct free initial tax reviews and to provide tax tips. Once an accountant has been employed, they may be happy to discuss things over the phone for free whenever you need.

They Can Invest Their Knowledge And Experience

At the very outset of a new business, accountants can explain the often-confusing terminology. They’ll know the difference between sole traders and partnerships, contractors and landlords. They can advise on such things as VAT and recovery loan schemes. From day one they can apply everything they know and turn it into money making financial advice.

They Can Free Up Your Time

There is great power in delegation. Plumbers didn’t sign up to be office workers; they want to be out and about making money, and not be tied to a computer. At the end of a long and tiring day, they’ll want to relax and unwind rather than open up an accounting programme.

They Can Remove The Burden

Business owners want to have time to stand back from everything and to implement their business plan. Accountants can oversee everything from assets and stocks to tax forms and submissions. They can keep companies legally compliant and make them ready for external audits.

They Can Protect You From Error

If someone does their own accounting they may miss an HMRC submission deadline. There could be issues trying to reconcile figures, or the data could be wiped by mistake. Whilst accountants will bill you for their work, the peace of mind they can provide is well worth the investment.

They Can Review Your Company

It can be highly beneficial when a trained eye assesses a business. Accountants can identify both weaknesses and potential gains. They can help companies form their budgets and put their business plans together. They can advise on adding  mobile phones or cars to business expenses.  Additionally, they can assist with debt management.

They Can Help You Plan For The Future

Accountants understand the national economy and the implications of Brexit. They can become involved with the production of your financial reports and business projections. Additionally they can look at your cash flow and help you create financial strategies.

They Can Provide More Specialised Help

If you plan to trade abroad, you’ll need to choose an accountant who is trained in this aspect; then they can advise you on tax and international treaties.