Will I need an accountant for my business?

The reasons why you may or may not need one may vary according to your circumstances (eg you may feel that the software packages currently available adequately meet your needs). There are legal requirements if your business is a limited company.

However, if you are under no legal obligation, you should be looking at the benefits an accountant might bring (eg. expertise which could save you time and money). After giving this some thought, you may decide that you do not need an accountant and that you can look after your own tax affairs.

Accountants can be expensive if you don’t use them properly, so you need a clear idea what you want them to do. It would be advisable for you to keep control of day-to-day financial management so you know exactly what the financial position of the business is. Otherwise, there is a danger of you losing control.

Names of suitable accountants may be available from sources such as friends and family who are in business (word of mouth), banks, business directories and representative bodies of accountants.


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