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Business Tax Services | Why You Need to Leave it to The Experts

by Thomas Nock Martin | Jul 20, 2023 | Tax

tax advice Brierley Hill

Business owners often do their own accounting and bookkeeping to try and save money. However, this regularly backfires. Here’s why you need to get an accountant for business tax services, and how to get the best value for money when using one.

Keeping on top of the accounts is not something most business owners enjoy doing, because of this it ends up being a job that gets pushed to the bottom of the list. Yet, accurate bookkeeping is the backbone to any successful business. Hiring an accountant can often be seen as a luxury, but in the long run a good accountant is always worth their weight in gold. 

Hiring an accountant is not frivolous outlay, it’s a smart business decision. In the long term,  investing in professionals can bring considerable returns and save your business money. 

An accountant will keep control of your tax obligations, identify savings or tax benefits, and help you grow your business. Plus, it frees up your time to focus on other areas of the business, or even just allows you to spend time with family and friends. All you need to do is make sure you’re using them efficiently. 

How an accountant can help with business tax services

As a small business owner, there’s a lot you have to think about and a lot you have to take on yourself to keep costs down. When it comes to deciding whether you should hire an accountant you need to weigh up the risks against the costs. Here are just a handful of ways our business tax services can help. 

  • Advise on tax breaks and valid expenses. 
  • Handling invoicing (and chase unpaid accounts).
  • Submitting an accurate tax bill.
  • Submitting tax returns and other necessary paperwork on time to avoid fines.
  • Accurate bookkeeping. 
  • Up to date and information and knowledge to help you make business decisions.

Why you need to get an accountant

There are so many things an accountant can do for you and your business, such as tax return services, but here are some key areas where they can help your business immediately.

Clean up your books once and for all

When business owners do their own bookkeeping, it often ends up being a rushed process whenever they can squeeze it in or a deadline is looming. Considering financials are the backbone of your business that’s not really good enough and can result in inaccurate data entry, missing documentation, missed tax breaks and late submissions. 

A chartered tax advisor will clean everything up so you have accurate records backed up by the right documentation. 

Business tax services on time 

Late filing or late payment of taxes can mean a large fine and interest on top. Working with an accountant you’ll never miss a deadline again. At Thomas Nock Martin we work well in advance so that tax filing is smooth and stress-free. Never again will you dread the tax return deadline.

Improve invoicing and cash flow

The way you process invoices is essential to the health of your business. If you don’t bill efficiently, you won’t get paid on time – and that will leave you with a cash flow problem. It’s a simple thing but can be the downfall for many businesses. 

Our chartered accountants in Brierley Hill can offer you expert advice on business tax services. Get in touch today on 01384 261300 and speak to our friendly team of accountants West Midlands. 

If you have found this blog helpful, you may wish to read our previous blog on Profit-Taking Strategies.