When it comes to accounts and taxes, many people like to bury their heads in the sand. After all, finances and the Self Assessment can be really confusing – let alone trying to find a professional to take care of it for you.
If you have decided to invest in the services of an external accounting firm, it’s important that you choose the right one. While a tax return ONLY service may be appealing on a cost basis, a good accountant will do a lot more than just the Self Assessment.
Here, we round-up the extras you should look for when picking an accountant.
Firstly, you can’t afford to be without cloud software in the digital age. It’s the most efficient and accurate way to complete accounts. And, it’s going to be mandatory for you to file tax electronically – if it isn’t already.
Making Tax Digital (MTD) for VAT was introduced in April 2019, except to those exempt from it. This digitalisation will soon be rolled out to corporation and income tax also. Whilst it hasn’t been revealed when this will happen, it could be as soon as April 2020.
A great accountant will offer more than one cloud accounting software option. So, if you already have tools in place, you won’t have to switch when you enrol an accountant.
On top of cloud accounting, a fantastic accountant will help your business grow. This can be effectively done via a number of processes. Budgeting and forecasting services will allow you to plan ahead and determine the best strategies for successfully maximising turnover and profit.
Another way to help your business evolve is by boosting your tax efficiency. With select activities such as claiming expenses, you’ll be able to compliantly reduce your tax liability and save money. This can then be invested to propel your growth.
An accountant who does more than just the tax return will also have expertise outside of this. Knowing how you can ensure compliance will be key, especially with the various tax legislation changes that have occurred in recent years. It’s easier to upset the tax man than you think!
They should be a professional too – someone who has had experience working with other clients with varying needs. A relevant education is vital as well. Team members at Nabarro Poole like Tyler, Curtis and Abdul all have accountancy qualifications to their name. And, we’re certified as advisors for both Xero and QuickBooks, so you can trust that we know what we’re talking about when it comes to cloud accounting.
Plus, we have all the other elements of a comprehensive offering. These include a range of cloud software options, compliance services, and growth-focused planning. With Nabarro Poole, your finances will be accurate, and you’ll be protected from any situations with the tax man. You can have peace of mind that your company will be in safe and secure hands. Plus, we offer unique bespoke services on top of this.
Nabarro Poole believe in helping our clients all-year round, not just when the tax return deadline comes around. Through boosting your finances, we’ll advance your business. Got any questions about our services? Don’t hesitate to get in touch today.