When is the Right Time to Hire an Accountant?
Whether you’re a sole trader just starting out or a small business owner trying to grow, managing your finances can be both challenging and time-consuming. While many people try to handle things themselves early on, there comes a point where bringing in a professional accountant is not just helpful, it’s essential.
At SCS Financial Management, this month’s blog looks at when the best time is to hire an accountant. For more information, call us in Reigate on 01737 373707.
Call our team on 01737 373707
SCS Financial Management
You’re Starting a New Business
At the very beginning, an accountant can help set your business up properly. From choosing the right legal structure (sole trader, limited company, etc.) to registering with HMRC, we can help you understand your tax obligations.
Getting this right from the outset can save you from costly mistakes later down the line.
Your Finances are Becoming too Complex
When your income starts growing, you’re taking on staff, or you’re dealing with multiple revenue streams and expenses. Therefore, spreadsheets might no longer cut it.
An accountant can help you streamline everything. This includes tracking cash flow, managing payroll, and ensuring you’re making the most of allowable expenses without falling foul of tax rules.
You’re Spending too Much Time on Admin
Time is money. If you’re spending hours struggling with bookkeeping software, chasing receipts, or worrying about VAT returns, you’re taking time away from running your business.
Hiring an accountant can give you peace of mind and let you focus on what you do best.
Tax Returns & Deadlines are Stressful
Whether it’s your Self Assessment, Corporation Tax, or VAT returns, an accountant ensures you meet all your deadlines and comply with current regulations. They’ll also make sure you’re claiming all the deductions you’re entitled to, helping reduce your tax bill legally and efficiently.
You are Planning to Expand
If you’re ready to expand your business, an accountant can offer strategic financial advice, help with forecasting, and guide you through decisions like hiring, purchasing assets, or changing your business structure.
They can also identify risks and opportunities you may not have spotted on your own.
Contact SCS Financial Management
For more information about our accounting services, contact SCS Financial Management. Call us in Reigate on 01737 373707. Alternatively, you can make an enquiry via our contact form.
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