By timfarley, Sep 2 2016 08:05AM
Accountancy is not like plumbing or car repairs - it is not a service that you know you need. You do not wake up one morning and decide, today I will appoint an accountant! I hear from friends and associates that 'My business is too small to need your services!' or if you are a higher rate taxpayer you assume that the payroll will sort out my tax for me.
Whilst both these statements are correct, if you are self-employed, do you have the January stress of arranging all your records, collating all the income and expenses, registering for HMRC, input the figures onto their form, then allowing a tax calculation with no explanation.
Do you know all the costs that you can claim? Are you happy doing your calculation of income and expenses? Do you understand the HMRC forms?
If you are liable to higher rates of tax, are you claiming for work related expenses? Is your bonus taking you temporarily into higher rates? This can have a bearing on more than one tax year.
You won't know what it costs or what potential saving you could make without having a discussion with me. For the monthly price of accounting software, you could have all this done for you - together with ongoing advice and explanations.