Wondering what a top small business accountancy provider in the UK, like Affinity Associates, can do for you?
Many small business owners believe that keeping accountancy in-house or doing it on their own is economical. However, the fact is that the price they are paying for in-house accountancy is greater than engaging a professional small business accountancy provider. A small business accountancy provider not only can take care of the accounting but can do a lot for your business. Here are the top five things that a small business accountancy provider can do for your business:
1. Bookkeeping
The bookkeeping services for small business from an accountancy provider can help you save time and money. It can take away the hassle of bookkeeping, and at the same time, free you so you can concentrate more on running and expanding your business. Bookkeeping services for small business are also more cost-effective than hiring full-time, in-house staff of bookkeepers. By engaging bookkeeping services for small business, you will never have to worry about keeping your books accurate and up-to-date.
2. Payroll
Payroll management can be ridiculously time-consuming and confusing. With payroll services from a small business accountancy provider, payroll management will not be a hassle anymore. Professional payroll services help increase your payroll efficiency, improve your employees’ satisfaction, and ensure your payroll remains compliant with the existing legislation.
3. VAT Returns
Preparing VAT returns, accounting them accurately in the books, and submitting those returns to HMRC can be very challenging. Fortunately, small business tax accountants working with your accountancy services provider can efficiently address all your VAT return requirements. These small business tax accountants not only prepare, account, and file VAT returns, but also deal with HMRC on your behalf if any queries arise.
4. Financial Accounting and Business Advice
Bookkeepers may not be able to prepare accounting statements and financial reports. They may also not be able to identify and extract vital information from the statements and reports. Accountants for small business working with your accountancy services provider, on the other hand, can easily prepare all the necessary accounting statements and financial reports. They are trained and qualified to handle these tasks. Apart from preparing statements and reports, accountants for small business can also identify and extract vital information from your books. Using this information, accountants for small business can offer you practical advice that helps limit expenditure and improve the bottom line. They can also advice on business expansion and tax planning opportunities.
5. Personal & Corporate Taxation
There are a lot of ways to reduce your personal and corporate tax burden, but you probably would not know. Small business tax accountants working with your accountancy services provider can provide you Effective personal and corporate taxation services. These small business tax accountants will show you practical ways to help bring down both your personal and corporate tax liabilities.
Apart from the above, a small business accountancy provider can help with incorporation, company secretarial services, audits, and inheritance tax planning among other things.
It is always beneficial to team up with a reputable provider of small business accountancy in the UK, like Affinity Associates. Engaging Small business accountancy provider is cost-effective, and it takes care of every accounting aspect of your business.