Hire an Accountant Who Is Right for Your Business

Posted by Vidit Agarwal on December 6th, 2022

Whether you are working as a small business owner, an entrepreneur, a freelancer or a contractor, keeping and managing the finances of any type of business is the most important aspect of business growth. Every aspect of business needs to be accounted and payroll has to be paid on time and tax responsibilities need to be met.

Whether you are working as a freelancer, a small three person business owner, or a large established organisation, the cost of your accounting is always important. As your business grows, you will require someone to carry out the accounting services as well as valuable guidance that has knowledge of your industry.

Do you have recently set up a business or have any existing one to expand, maybe you have been managing your finances individually until now, hiring an accountancy firm may be the best thing you do during the early days of running your business.

Here are some of the main tasks you can expect as an accountancy firm in Nottingham provides on an ongoing basis – as part of the monthly and annual fees.

• Bookkeeping (this may or may not be included).
• Setting up your limited company via Companies House.
• Setting up a limited company bank account on your behalf.
• Preparing your company’s quarterly VAT returns.
• Completing HMRC payroll-related forms.
• Complete your Company Tax Return.
• Complete your personal tax return services.
• Help you with business management, budgeting, and planning.
• Help you with pension contributions through a limited company.
• Setting up and running a payroll system to process your salaries.
• Conducting or facilitating IR35 contract reviews and legislation, if you provide any professional services.

Accounting provides vital information regarding the finances of a business such as cost and earnings, profit and loss, liabilities and assets for decision making, business planning, and controlling processes within a business. Although your professional accountant will take care of your company’s tax and accountancy needs, records will only ever be as accurate as the information you provide. So get in touch with a professional accountant near London today.