3 ways a professional accountant can help - which you might not know about
Most people know how useful hiring a professional accountancy firm is for dealing with tax returns, VAT returns and bookkeeping. Many do not know though that qualified accountant can help with so much more! Most will actually offer a variety of handy services across a wide range of finance-related subjects. By taking advantage of them, you are able to get expert advice on areas you might need guidance on. But what type of additional services could a qualified accountant assist you with?
CIS refunds
This is a valuable service that many self-employed sub-contractors in the construction sector could use at times. Many sub-contractors fall under the Construction Industry Scheme. This sees HMRC take 20% of their wages at source for work completed. The issue comes when these same workers end up paying more than they should! As a result, many sub-contractors can be due a CIS refund when their tax return is sent in each year. It is not always easy to know if you are due a refund though, which is where an accountant can be handy. These qualified professionals can take a look at your CIS statements, expenses and tax information and let you know if a rebate is due. They can then deal with HMRC on your behalf to action the refund.
Advice on workplace pension and auto enrolment
Workplace pension laws now see any business which employs at least 1 member of staff create and put into a workplace pension scheme. Also known as auto-enrolment, it sees staff automatically placed into the newly created scheme. This naturally places more pressure on employers to have everything in place and to ensure contributions are paid on each payroll run. For many companies, this extra work has brought additional costs and admin needs which may be problematic. Many accountants now will offer help in this area and make it easy to outsource your workplace pension needs.
Advice around benefits and Universal Credit
This is a classic area which many people do not know an accountant can help with. Many now are starting to give professional advice to individuals around which benefits they might be able to claim or if they can claim Universal Credit. As well as this guidance, accountants can also help make filling in the paperwork easier and ensure it is done correctly. Ultimately, this can see you access benefits you did not know you were eligible for and with less hassle.
Contact Taxcare Accountancy today
As the above shows, an accountant can help with so much more than tax returns! If you need help with any of the above services, contact Taxcare Accountancy today at info@taxcareaccountancy.co.uk. Whether it is CIS refunds, advice on benefits, help with auto-enrolment or other issues like audit support services, we are the people to rely on.
