Believe it or not, this isn’t a silly question, and you most certainly won’t be the first (or last) to wonder what an accountant really is.
To be honest though, it varies depending on the type of accountant they are, and the needs of the organisation. But in general, an accountant’s role is to review and analyse your financial records, keeping track of things like your income, expenditure, and liabilities.
What can an accountant help me with?
Lots of things! An accountant is there to make your life easier. When you start a business, you often don’t go into it excited about paying taxes or organising all your financial records. Thankfully that’s what an accountant is there for, they can help you:
- Fill your tax forms in correctly – keeping your HMRC compliant
- Minimise your tax bill – there may be tax reliefs you haven’t even heard of that you’re eligible for!
- Offer tax advice whenever you need it – for instance if you’re thinking of switching business structure or you have no idea what legal business structure to register as
- Save you time – this is arguably one of the best things about an accountant, you’re able to focus more on your business than on your taxes
Learn more about what an accountant can do for your business.
Can an accountant really save me money?
Yes! In fact, that’s a major part of the job. They help you save money in many ways. One way, by keeping you compliant, so your business avoids any nasty penalties from HMRC. And of course, another way, by ensuring you are claiming everything you’re entitled to. From allowable business expenses, to making the most out of available allowances.
Can anyone hire an accountant?
Absolutely. Whether you’re a small trader or a large public limited company – every business could benefit from having an accountant.
Are all accountants expensive?
No. There is such a thing as a good cheap accountant. Just like there’s bad expensive ones! Compare accountancy packages to find out more.
How do I find the right accountant for me?
The good news is it isn’t as tricky as you think. We have a guide to finding the right accountant here. And we also have advice on what makes a good accountant – so when you’re on the hunt for one, you know the green flags to look out for.
Struggling to find an accountant? Find the right accountancy package for you here!