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Why is a professional accountant crucial for start-up businesses?

Why is a professional accountant crucial for start-up businesses?

Starting your own company from scratch is an exciting time for any entrepreneur, but it comes with a raft of new responsibilities. If you’ve been used to working as a PAYE staff member, you might be used to many legal requirements being handled by your company, but now that you’re at the helm, these duties will fall to you.

From managing your accounts and understanding your business needs to helping you expand and achieve your aims, a professional accountancy service can save you time and money and pave the path towards success. Read on for why an accountant in your corner is always an enviable asset for business start-ups and company formation.

Bookkeeping, VAT Returns & Payroll

When you start a business, you’ll find you’re called upon to wear many hats and handle a wide array of different duties. A professional accountancy service can not only lighten the load but bring a new level of expertise to the table, ensuring your records are always accurate and any end of year accounting is correct, keeping you compliant. From day-to-day bookkeeping and monthly payrolls to annual tax returns, a professional accountant can take care of these important areas, allowing you to focus on what you do best; growing your successful start-up.

Professional skills on your side

When you launch a start-up, your small staff might not have the skillset you require. Employing a professional accounts department to handle the financial side of your firm can be time-consuming and expensive and you may even be unsure what qualifications and experience you should be looking for when it comes to hiring.

Enlisting an established accountancy service with experience of working with start-ups can be a wiser move, with a professional accountant on hand who understands the challenges and needs of fledgeling firms.

Future planning

Finally, when you’re looking to expand your start-up and become a small business, a professional accountant can be invaluable. You may have short-term needs or long-term goals for the future and an accountant can help you reconcile these and design a road map that allows you to achieve your ambitions for the firm. Contact our expert team today for advice and support.

Taxcare Accountancy was formed to provide Small & Medium Businesses with an affordable, proactive and professional accountancy services…