When you are starting up or running a business, an accountant may seem like an added expense that you could do without. The fact of the matter is, an accountant doesn’t just do a bit of number crunching – they are someone who understands how to run a business in today’s economic climate. Experienced and professional accountants can provide you with essential support from, company formation, accounting, taxation, VAT, payroll, coaching and mentoring, succession planning, business development and much more.

You should never underestimate the importance and capabilities of an accountant, as they can help you plan for a successful future and help keep your financial records and information in a formal and organised state that allows easy and secure access. HM Revenues and Customs, as well as your bank will sometimes need data and records from you, so having an accountant allows you to know that your information is safe and ready to distribute if need be. Accountants North Wales hope to clear a few things up surrounding the benefits of accountants.

It is your choice how much you use an accountant, so whether you’re just after bookkeeping, or a full self assessment, corporation tax or PAYE service, your accountant will be able to offer the exact services you require. Some of the advantages of using an accountant include:

• Pay less tax

An accountant will help you take legal methods to reduce your tax bill. You could be leaking money without realising and an accountant will help you in the long run to lower the amount of tax the business pays.

• Improve profitability

Accountants not only take care of your accounts, but also help you with budgeting and forecasting your cash flow. This means they will be able to offer advice on how to free up cash flow and where you can make savings. As your business grows, they can help you manage growth and maximise your profits.

• Save yourself time

Doing accounts can be time consuming and take time to learn to complete effectively. Using a qualified accountant allows you to spend your time on other aspects of running your business!

• Accurate accounts

Accurate financial information will help you analyse your business performance effectively, whilst enabling you to assess what you have achieved – as well as forecast and plan for the future. Looking into the future with accurate data is excellent for helping you raise capital from investors and banks.

• Invaluable business advice

Whether you have just started in business or have been running a while, an accountant has experienced across a huge range of industries that can offer you excellent quality professional advice and business solutions.

• Reduce the risk of getting figures wrong

Everyone has to pay tax, and if you calculate your data incorrectly – can lead to expensive punishments. Is it worth the risk? A professional accountant will be aware of the legislation and will ensure that you comply with your legal requirements in the most efficient way.

JT Thomas & Co are a highly respected Chartered Certified Accountancy firm that serve both individuals and businesses across the United Kingdom. The dedicated team can provide you with solutions and accounting aid that will help support you grow your business. At Hart Parry, you can be sure that your financial information will be solid and secure, with a highly professional and motivated team serving you.