Starting your own business can be both exciting and daunting, especially if you’re on your own. There can be a whole dictionary of new terms and financial responsibilities to learn, and that’s why small business accountants like us are on call to help when you need us. Just call us the blue suit superheroes of the business world.
Here are our 7 ways a small business accountant in London can save you valuable time and money, so you can get back to doing what you love.
1. We are excellent bookkeepers
It’s no secret that as a small creative business owner, you love what you do. An accountant for a small business in London helps you make sure you can spend your time doing more of what you enjoy.
Organising your business receipts can feel a little bit like looking at that laundry basket you’ve been putting off sorting out for the past two weeks. Ultimately, finding and collecting receipts for the end of the tax year can be a tricky, time-consuming task, but one that could help you avoid missing out on tax deductions.
Accountants keep all your financial records for you, meaning you can concentrate on the fun stuff. Here at Raedan, we use a platform called Xero, which allows us to share and keep your real-time data in one tidy place, for easy access for both you and us.
2. Small business accountants deal with HMRC
If you have ever had the luxury of connecting with HMRC, you’ll know you need to take a large chunk out of your working day to get the answers you need. By teaming up with a small business accountant, we can deal with HMRC for you. This includes ensuring they are provided with the correct and up-to-date documents and answering any questions they have about your business.
3. We take the pressure off of tax returns
By having an accountant, your team no longer has to worry about taking charge of tax returns. Accountants manage and organise your tax information, so you can sit back and enjoy knowing all the mundane (and slightly scary) tasks are handled for you.
Having access to your financial records means our team can ensure you are not overpaying tax, by weighing up any vehicle costs, utility bills or other claimable expenses that could be deducted from your earnings. Who wouldn’t want a bit of money back in their pocket, especially when you’ve got an expert filling out the paperwork for you?
4. Financial advice on improving your small business
As well as dealing with your current finances, accountants can also give great advice on how to optimise the efficiency of your business. Based on the data you share with us, our small business accountants in London can talk you through potential growth opportunities and current industry trends. It’s in our nature to get to know people, so we can also be a strong networking resource to help you reach out to new clients or potential business partners.
5. We can look into the future
At Raedan, we pride ourselves on our forward-thinking approach to each of our clients. Our jobs aren’t just about updating you on what’s happened, but more importantly, how we can boost your business strategy in the future. This could include discussing any potential plans to expand, making the most of tax relief opportunities or helping you understand the impact of new changes to your business, like hiring staff or updating your equipment.
6. Numbers are our thing, so you can focus on creating
Although an accountant’s primary role is to deal with finances, we value collaboration. Our team at Raedan are more than happy to explain your KPIs, budgets and profits to you. This can help you understand your current financial position, making it easier to come to decisions around your next steps.
7. We save you from accidental penalties
A big part of a small business accountant’s job is to ensure all relevant paperwork is filled out correctly. Ensuring the right amount of tax is paid is a legal requirement, and errors can cause serious problems. Luckily, we’re experts in this and, using our top-notch bookkeeping system, we can keep you on the right side of the law, all while making sure you’re receiving any appropriate tax claims.
So, there you have it. An accountant for your small business could really change your life for the better. Whether you’re confused about how much tax you should pay or how much that extra office computer could affect your financial situation, we’re here to save the day.
Let us know how we can help
If you’re sitting behind your screen, staring at the pile of business receipts we spoke about at the beginning, you can get in touch with us via our contact page. We love what we do and are excited to hear from you.
Or, to find out more about us, you can read our page explaining all about the faces behind Raedan. We look forward to hearing from you soon.
