Managing And Maintaining Your Books
Whether you decide to operate as a sole trader, as a partnership or as a limited company, you will still have certain responsibilities to adhere to when it comes to reporting your personal income and company’s performance to Companies House and HMRC. For LLPs and limited companies, this will come in the form of self-assessment tax returns and company accounts.
Navigating these complexities can be a challenge for any new business owner, and making mistakes can be costly. Having an accountant for startups on board will help you to avoid any potential pitfalls and errors and help you to ensure that your trading is all above board and in line with legislation.
Of course you can decide to maintain your own records and books and file your own tax returns and accounts, however appointing an accountant to act for you is often the best course of action, especially when you’re focusing on launching a brand new enterprise. Running any business is time consuming and stressful, and dealing with accountancy matters can take precious time and resources that would be better spent elsewhere, growing your business and helping it to thrive. While you may be concerned about the cost of using an accountant’s services, you can rest assured that their expertise and knowledge will ensure your business is properly fulfilling all of its statutory obligations to Companies House and HMRC as appropriate.
Thanks to your accountant’s considerable experience in the field and in-depth knowledge of the complex tax landscape, they could be indispensable in helping you to ensure your venture has the best possible chance of long term success.
To find out more about our accountancy services for startup businesses, contact our team today to discuss your individual requirements. As specialists in working with small business owners, we’re looking forward to hearing from you and helping you to make your startup a great success.