To any small business a great accountant is worth their weight in gold. Gone are the days when an accountant was viewed purely as a bean counter. They’re now an intrinsic part of the advisory resources available to every business – whether they’re small,medium or super-sized!
So, what exactly does an accountant do (or should they be doing) for your business? The bottom line is that your accountant should be making sure that your business is operating as profitably and tax efficiently as it possibly can, while at the same time keeping you on track with your HMRC obligations and ensuring that your business is operating legally.
As well as checking and balancing your books, preparing your accounts and helping you meet your tax deadlines, good accountants deliver a whole load of value-add services that can help you thrive and grow in your marketplace. They can help you with business planning; financial forecasting and budgeting advice; as well as company formation and deciding what type of company you should be operating e.g. sole trader, limited company, partnership etc.
They can also give you advice on whether you have a viable business proposition to begin with; advice that could save you a whole load of heartache and money in the long run. We’re not implying accountants are the grim reaper, but they often offer the reality check and sounding board that many businesses are lacking internally.
So, if you don’t view your accountant as a trusted business adviser or if they’ve never offered you services over and above the traditional(by that we mean services that will add value and help you grow), then perhaps it’s time to come and speak to KPP.
Written by: Stephen Usher, Partner, KPP
You can get in touch with Stephen at email@example.com or on 0141 418 6550