Do I Need an Accountant?

There are no regulations to state that all businesses need an Accountant. However all businesses have a lawful duty to ensure that books and records are kept for financial data, and the relevant forms etc submitted on time.

We believe, at A to Z Accountants, that not using an Accountant could end up costing you more than if you did not have an Accountant.

The areas we consider that you would be risking are as follows:

  • Paying too much tax
  • Not claiming the reliefs that may be available due to insufficient knowledge
  • Penalties for late or non compliance
  • Potential errors in data or information submitted
  • Tension or worry, about whether you are complying correctly
  • Incorrect business set up structure
  • Extra time spent on administrative and compliance issues rather than focussing on obtaining additional business In plain English your accountant will:
  • Help you to structure your company in the most tax efficient way possible.
  • Help you to understand the best way to take money out of your company.
  • Understand what you can claim by way of expenses and the impact on your income and taxes.
  • Help you to understand all of your tax liabilities both personal and corporate, these include:
    • Employers National Insurance contributions
    • Employees National Insurance contributions
    • Personal income tax
    • VAT (Flat Rate Scheme or standard VAT)
    • Corporation tax
  • Prepare and complete your personal self assessment tax return each year.
  • Understand when, how much and where to send payment for all taxes that are due.
  • Explain the benefits of not taking every penny out of your company along with other tax planning opportunities.
  • Send e-mail and mobile text alerts so you never miss a deadline; we understand that you are busy and may miss one notification this is why we produce several.
  • Preparation of Company Year-End Accounts to be produced within 30 days of us receiving all the relevant information from you.