If you are self employed or a small business owner, the chances are that finances are constantly on your mind. Many people in this situation will put off hiring and working with an accountant and instead attempt the DIY method of managing their finances to keep their overheads low. However, this could prove to be a grave mistake. Poor understanding of the tax system can often cost you money, leading to paying too much tax or hefty fines for late fees from HMRC.
Hiring an accountant or an accountancy firm, such as GW & Co, to work with you and your best interests can not only be cost effective, as we navigate you through potential pitfalls, but can have a whole host of extra advantages you may not have even considered.
Let us explore some of these advantages together:
Time and Money Saving
The most obvious reason for choosing to work with an accountant is that it can save you a lot of time and money by preparing and filing your accounts and taxes for you, among other crucial paperwork such as payroll or your VAT. This leaves you free to concentrate on other aspects of your business to ensure you and your business succeed and develop. Leave the deadline stress to us!
At GW & Co, we have over 30 years of accountancy experience and can easily navigate the common pitfalls to ensure you or your business does not fall foul of them. You will no longer need to remember payment deadlines or worry if you have paid too much or too little tax, we have you covered and will ensure you deadlines are met in a timely manner, your paperwork is filled out correctly, and you are on the correct rates for you.
Financial Advice and Future Planning
An accountant can provide valuable advice on financial planning and investing. If you are self-employed or a small business owner, you are probably constantly thinking about how to grow your business and make more money. An accountant can help you make sound financial decisions that will ensure you achieve your goals. Our experienced accountants can provide jargon free, impartial advice to help steer you or your business in the best direction for your interests. What’s more, at GW & Co, we have an open-door policy, so if you have a question, you just need to email/call or pop in, and we will be happy to assist you. We will also respond in a timely manner so you are not kept waiting.
Budgeting and Financial Goals
As your business is growing it can be tough to look at your accounts impartially and set realistic budgets and financial goals. An accountant can help you set up a budget and track your progress towards financial goals. Moreover, they can help you keep track of your expenses and income so that you can make sure you are making a profit, which after all is our collective goal! If you and your business succeed, your accountant succeeds.
With all these benefits to you and your business, not to mention the cost saving aspect why would you try the stressful DIY approach?
If you would like to learn more about working with an accountancy firm which has you and your interests at heart, please do not hesitate to contact GW & Co. Our friendly team is here to answer any queries you may have, or we can provide you with a free, no obligation consultation. You can contact us by clicking here.
