Year End and Tax Returns

Did you realise that for the majority of owner managed businesses using an accountant is completely voluntary?

Provided you qualify for audit exemption, there are no regulations or laws that say you have to engage an accountant to meet your filing requirements.

Of course us accountants like to think that we are invaluable and maybe we are but I recognise that the reason you choose to engage me is so that I take the worry of the compliance away from you and leave you free to do what it is you do best – run your own business and deliver your own services to your customers.

My aim is to make the year-end process, if not enjoyable, then at least painless. I will work with you or your bookkeeper to ensure everything is as efficient as it can be and only do what we agree is absolutely necessary to do and if that means (not recommended) simply converting a trial balance into statutory accounts without carrying out any checks or review then that is what I will do.

Whilst not essential I always recommend that you should use a good quality bookkeeper. They will make sure that your records are accurate and comply and all VAT returns are made on time and correctly. Most will be able to provide on-going management information to allow you to make important business decisions based on financial fact and not just your bank balance. Not only that, but they will save you on fees at the year-end.

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