Looking for Business Finance - then Sterling Capital Reserve have a range of useful products:
Online UK Business InformationBusiness FinanceFocus Promotional MerchandisingVAY or PAYE Arrears - Crown Debt Report
Monthly @work Cartoon by JasonWhatever.co.uk

Cartoons, Illustrations and Graphics by Jason Whatever - CLICK HERE for more details

Accountants

Also read: Patents | Trademarks

General bookkeeping can be tedious and time consuming so hiring a qualified accountant can be very useful. An accountant helps with basic bookkeeping, financial statements and tax returns giving your more time to concentrate on the running of your business. An accountant can also help you deal with all your financial queries.

If you run any business, you're legally required to:

  • Keep PAYE records if you have employees and VAT records if you're VAT registered
  • Submit an annual tax return to HM Revenue & Customs.
  • If you're a limited company you also have to file accounts with the Registrar of Companies.
  • If your business turns over more than £5.6 million, it is subject to an annual audit. This has to be carried out by a registered auditor, such as a qualified accountant.

Although some of this work can be done by yourself using an accountant not only increases the accuracy at which they are done but gives you more time.

Looking for an accountant

To make sure your accountant is a legitimate and qualified you should use a professional association or seek out personal recommendations.

Look for the words "chartered" or "certified" when hiring a new accountant, these words attached to their title means they are qualified and usually a member of a professional association.

Personal recommendations are a good indication of who is the right accountant as they are unbiased and come from experience dealing with the accountant. It can be helpful to ask for recommendations from your: friends or family, business associates, your bank or lawyer.

Don't leave a decision until the last minute, you should start looking for an accountant well before you need one. This allows you to make the right decision without rushing.

Speak directly with all your candidates to decide whether they are right for you. Discuss with them their qualifications and experience and tell them the needs of your business.