Small businesses can be very demanding and as the business owner you often find that you are pushed from pillar to post. Tax and finance issues can so often be put on the backburner until they become an urgent problem.
Sorting Self-Assessment Without the Stress
Many Self-Assessment returns completed by sole traders and directors of limited companies contain errors due to the variety of income that has been earned throughout the tax year. An accountant will collate all relevant information to ensure that a correct and complete return is submitted on time to avoid any potential penalty for late submission.
Staying on the Right Side of HMRC
Error in processing of payroll, VAT returns or company accounts on behalf of the company can result in HMRC investigation and large fines. This far exceeds the annual charge of an accountant and it is clear why obtaining a qualified accountant to process your returns is so important, especially as HMRC’s digital reporting continues to be rolled out to more areas.
Knowing When to Register for VAT More on Accountants Chippenham can be found at https://chippendaleandclark.com/.
Many mistakes are made regarding VAT registration, often with serious consequences. If your business is nearing the threshold of £90,000 then an accountant can advise you of the best time to register and which scheme of VAT is best for your business. Often the difference of a few months can save a fortune in cash flow terms.
Making Sense of Cash Flow
The accounts show a good profit but profit on paper does not always translate into money in the bank. A simple cash flow forecast can highlight problems before they occur and allow time to sort out.
Accessing Finance and Investment
Lenders and investors require properly prepared accounts and sensible projections. A local Chippenham accountant will be able to prepare your financial records for you as well as assist with your finance applications, such as obtaining a business loan from a bank or other funding body.
A good accountant will pay for themselves very quickly, taking the hassle out of your finances allowing you to concentrate on running your business.
