Some small business owners come to me before they start up, but mostly I find they’ve been looking after their finances themselves, or another accountant has. This means that the enquiries I get are often varied but here are the top 5 problems I solve for my clients.
1. “I’ve just set up as a sole trader and need an accountant because I hate numbers and don’t know where to start with tax”
I can help sole traders to get on top of their bookkeeping, understand their numbers and know what tax is due in advance of the 31st January deadline.
I can help and guide you through the HMRC registration process.
I can help get you set up with cloud accounting software and I regularly provide free training sessions.
I know a lot of sole traders and freelancers bury their heads in the sand when it comes to their accounts and tax returns, and then panic in January. Don’t do it! Come and speak to me. Arrange a call with me to talk through where you’re up to. You can sign up as a client or just pay for a one off 1:1 so that I can help get you on track.
2. “I’m a sole trader and have always done my own accounts and tax but now my company is growing and I just don’t have time to keep on top of everything”
Some small business owners actually do like to do their accounts and tax themselves to start with and they’re comfortable with numbers and understand tax.
They contact me when it makes sense to get a professional to do it for them, to save time and that time saved means maybe they can go on holiday, make more money doing what they do, or even start a new hobby!
I help them keep the balance between work and personal life by taking the accounts and tax burden away and advising on how things can be better managed and easier to understand.
3. “I’ve set up a Limited Company and now have no idea what I need to do next”
Lots of small business owners are advised to set up as a Limited Company and then all the Companies House and HMRC paperwork comes flooding in and they don’t know where to turn.
I can help! I could help you get everything in order, and set you up with accounting software so that you can manage day to day books yourself. I could advise you on the best way to pay yourselves and set all the tax schemes up for you… Corporation tax, PAYE and VAT (if necessary) and most importantly keep on top of all the deadlines!
4. “I’m a sole trader and I think it’s time to incorporate (set up a Limited Company)”
It’s always worth talking this through with an accountant because it’s different for every small business. For some it’s right for others it’s not.
At a certain level, some businesses will save tax but the accountancy fees are likely to be higher. For some it’s not just about tax, it’s about keeping the entity and the individual separate. For others it’s about liability.
5. “I’ve been in business for a while but I’m not happy with my current accountant and need to change for a more personal service”
Lots of small businesses get an accountant from the High Street or just the first one they come across and don’t necessarily find one that’s a good fit from the start.
If this is you then get in touch. I may not be the best fit for you either, but I’ll always recommend someone who is.
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