The business environment within the UK is very dynamic and more people are realising that the job market is not secure. We can no longer wait for someone to give us a job or work for 40 years for one company, hoping to get a watch at the end of your tenure. More individuals are becoming entrepreneurs.
According to the Office For National Statistics “The number of self-employed individuals increased from 3.3 million people (i.e. 12.0% of the UK’s labour force) in 2001 to a massive 4.8 million people (i.e. 15.1% of the total labour force) in 2017.”
It is very difficult to be an expert in every aspect of your business and still be successful. You have to choose the core part of your business and outsource the rest to others that are more technical and have all the necessary expertise to give you the best possible advice.
With the right guidance, your business can explode to a new level. Some individuals try to do it all themselves. We have a term for this penny-wise and pound foolish.
Do you need an accountant if you are self-employed?
No. You do not need to hire an accountant if you are self-employed, there are no laws that require you to do so. However, you may benefit from their years of skills, knowledge, and expertise accumulated from the many years of diligent work in your industry.
Some people take hours of their valuable time learning, trying and doing the accounting and tax return on their own in an effort to save money. Yes. when you do the accounting yourself you will save the few hundred pounds in the accounting fees. However, on average, you will lose more than twice that in the amount that a good accountant could save you.
You love what you do and the accountants love that they do. I know everyone is different and to each their own, as accountants, we just love numbers and the secrets that the numbers reveal. Furthermore, we enjoy sharing these insights with our clients.
Why do most self-employed individuals turn to accountants?
Smart individuals that want their business to grow at an exponential rate trust experts to help them on their journey. They realise from early on that they cannot do everything themselves and chose to get a team of experts on their side.
As accountants at Taxfreeman Accountants, we proved the services of a full accounts department for small businesses at the price of an individual bookkeeper. We make it easier for you to use our advice to grow your business and use the figures provided to make better decisions.
Covering your financial responsibilities
Business is already challenging and the government is making it more challenging with the making tax digital initiative. The aim of making tax digital is to make the process simpler and easier for you as a small business or self-employed individual to pay your taxes and to do so more frequently.
It is a good initiative but it is one more thing to learn and to master. This is where our team will keep abreast of these things and guide you along the way, giving you the opportunity to focus on the growth of your business and not on paying taxes on time.
Minimising your tax liability
The UK tax code is very complex and is constantly changing. Every year when the budget is read a number of tax rules usually change. As a business owner, you have to follow these rules and apply them to your business. The reason why you started your company is the make a profit therefore the objective is to keep as much of it as possible.
A good team of accountants like those at Taxfreeman Accountants will ensure that you pay the legal minimum amount of tax. We read all the rules and make sure you get all the benefits that the big companies are able to get away with.
Saving you time and money
Time is money. If we can save you the time taken to research all the new tax rules and to apply them yourself we save you a lot of money. We, as a team, research these changes to ensure that you do not miss not even one relieve that could be applied in your business allowing you to save even more money.
Why should you hire us, Taxfreeman accountants?
Do you need an accountant if you are self-employed? Yes, you do if you want to effortlessly get all the benefits that were once the privy of the rich. We provide the ultimate tax return services because we sift through the complex tax rules and regulations so that you do not have to. We do the stuff you consider boring so that you can spend your time on something that you really like, like making more money and or spending more time with the family.
Let’s get started
We will apply all the relief that was once the privy of the ultra-rich and allow you to also benefit as they are. Contact us today!
If you are a local company you can come to visit us if you are searching for a local accountant in the following areas:
Accountants in Kingston Upon Thames
Accountants in Merton
Accountants in Richmond Upon Thames
Accountants in Surrey
Accountants in Wandsworth
Do you need an accountant if you are self-employed? Home.
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