Think you’re too small to hire an accountant? Think again. If you are serious about building a solid company that can weather economic downturns, then you need a small business accountant in London. With a dedicated accountant, you will have more confidence in setting up and running a business that is ready for growth.
Here are some of the reasons why you need a small business accountant in London to join your team:
- An accountant can assist you in your business plan.
The insights of a professional accountant will be valuable in drafting your business plan. Having experience and training in the realm of small businesses for years, a professional accountant will be able to cast a critical eye over your business assumptions, and make reliable financial forecasts.
- A small business accountant can provide advice on the best business structure.
Should you choose sole proprietorship, partnership, or corporation? Selecting the right business structure is indeed challenging as there are many factors to consider. That’s why you need an expert accountant to explain to you the pros and cons as well as the tax and personal liability implications of each structure. This way, you can make an informed decision and choose a structure that best fit your needs and goals.
- Ensure tax efficiency and compliance.
The thing about tax laws is that they are difficult to understand, and that they always change. Having an accountant on board will not only ensure that you will be able to file accurate computations of taxes on time but also stay compliant with all applicable regulations. Your accountant will likewise help you become tax-efficient, ensuring that you will avoid paying more than what you need to.
When hiring a small business accountant in London, experts suggest looking for someone with a CPA or CA rank (Chartered Accountant). This type of accountant is trained and qualified to take on a number of accounting activities, which include auditing financial statements, filing of tax returns, and financial advising. Hiring a chartered accountant can probably save you time and money since this professional can provide all the services that you need.