Tax preparation and filing services provided by accountants in London, and How to choose the right accountant in London for your business.
Unfortunately, taxes are an unavoidable part of being a small business owner. But, with the help of the right accountant, they can be much easier.
How accountants can help with filing taxes
There are many ways in which an accountant in London can help your business stay on top of its taxes.
To start with, they keep on top of the books. The accountants will account for all the income your company takes in. This is particularly useful for businesses with more complex affairs.
They can also help you to save money, by deducing things like rent and transport. Other services an accountant in London can provide are dealing with foreign income and advising on changes in legislation.
How to find the right accountant for you.
Although there is still time to change your mind, even at an accountant consultation, we have some advice on picking the right accountant.
What do they specialise in? If you need an accountant with experience within your industry, look for those who market themselves as “accounts for the medical industry, ” for example. Although, for many small businesses, an accountant who specialises is unnecessary.
To ensure you’re getting someone with a good reputation, look at as many reviews as possible, and speak to other small business owners, preferably those who work in the same industry as you.
Places to find accountants.
Many accountants advertise themselves as the “best accountant in London”. But, there is no such thing as “the best”; there are accountants who suit some clients and accountants who suit others.
If you’re a client looking for an accountant, here are some places you might consider looking.
- Asking other small business owners.
- Googling “Accountant in [Location]”
- Googling “[Industry] Accountant in [Location”.
Although Google will give you many results, you can look at the reviews and use find.icaew.com to see who is legitimate.
Why hire an accountant when we have apps?
With so many apps, such as QuickBooks, is there any point in finding an accountant for a small business?
Yes.
Some small businesses have taxes which are slightly more complicated than most others. These kinds of taxes can require a professional to get them in order.
But, even if you have ordinary taxes, many accountants use software far more advanced than QuickBooks. This software costs around £1000, but the accountant will use it to help you file your taxes, minimising potential human error.
Unlike an app on your phone, a human accountant can know you, your company, and your goals. And they can work on ways in which you can best meet those goals. If you have any questions, you can always ask an expert instead of trying to figure it out yourself.
And another huge benefit of using an accountant is that it will save you so much stress. You will not need to worry about missing a deadline or getting anything wrong.
Services you can expect from an accountant.
- Payroll.
- Pension Schemes.
- Monthly Bookkeeping.
- VAT Returns.
- Annual Accounts.
- Corporation Tax.
- Confirmation Statement.
- Dealing with HMRC problems.