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5 February, 2020
We often get asked, ‘Do I need an accountant?’ A great accountant will help you get started, be there to support you through the early days, and then teach you how to use reporting to grow your business. They will be an adviser, trainer and help you to make more profit in a tax-efficient way. The trouble with doing it yourself is that you just don’t know when you are doing things wrong, missing out on claiming things that will reduce your taxes or put you in danger of an HMRC enquiry.
Building a long-term relationship with an experienced accountant will undoubtedly help you enormously. You will want to be sure you get good value though and the cheapest option may not provide that. They should know the software you use incredibly well and, ideally, like us be certified pro-advisers in online accounting. You will want them to be approachable and speak in something like normal English!
Ideally, you will want to build this relationship from the very start of your business and, if it’s not working, then change as soon as you can. But find someone to work with as you business grows and the investment will pay for itself many times over.
Blog post by: Ian Marlow