You’re all sorted, and don’t need anybody. You’ve been doing your own accounts for years, and don’t need the extra expense or withering looks, thank you very much.
Seriously, it’s all going really well. You can add up just fine, and don’t really have any outgoings anyway, so why?
All those tedious meetings, why on earth would you put yourself through that?
They’re dull.
Yes, they are. Absolutely. Forever talking about debits and credits, muttering about overdrawn directors loan accounts, and asking awkward questions about missing receipts, and why that meal down the pub was absolutely necessary to court a new client. (Spoiler alert, you can’t claim it).
They’re expensive
Well, that’s all relative, isn’t it? But yes, they do charge for their services. But so do you. Would you rather have a HMRC issue a penalty for poor management and late returns, or have it done properly? I know which option I’d go for, but hey, it’s up to you.
I can just use an app, they’re dead easy.
Yes, they are, we’ve all seen the TV. You absolutely can submit your tax return from them.
But they can’t replace the human skill of interpreting tax laws and accountancy principles. But hey, you can google that, so no worries.
Accountants just talk about tax.
I know, it’s true, they do. Some are white hot and up to date with the latest HMRC updates, but then, so are you. Sorry, you’re not? Oh. Well, ask your mates then, I’m sure that they’re up to speed, no need to ask an accountant. They’ll only charge you for it.
I don’t have staff, therefore I don’t need an accountant
Why? Why does having staff make a difference? Staff are just one more expense to negotiate in the rich tapestry of the accountancy world, and whether you have them or not doesn’t make a blind bit of difference, you still need a set of accounts. And although I’m sure that you can do them yourself, an accountant has handy bits and bobs up their sleeves to make your accounts that little bit better. A bit slicker.
Nobody in my line of work uses an accountant
More fool them. Just because your business acquaintance doesn’t, you don’t need to follow them.
An accountant can take care of the day to day items, leaving you to actually work ON your business, and do the stuff that you’re great at. If the numbers are a chore, then pass it over to them. Accountants like it, and can probably give you some decent information that you were clearly missing, enabling you to make some actual, real life, informed decisions about your business. The tasks that you would be daunted by, (I’m thinking of that huge pile of receipts, by the way, and fear not, I CAN see it!) an accountant will polish of within a very small period of time.
And, let’s face it, nobody ever went into business to get bogged down in the finer details of VAT.
Detailed Input
They can also take a detailed look at your expenses. Are you paying too much? Invoicing too little? What will your projected profit figure be in 6 months’ time? A year? Are you on the right VAT Scheme?
They can help you make the most of what you have, if not more. You get the hint.
Just because you think that you’re doing ok, doesn’t mean that you’re doing great.
I can submit my own tax return
I’m sure that you can, you clever sausage. But, at what cost to your sanity?
Are you one of those ‘Last minute Larry’s’, skidding to a halt sideways at 11.59, 31st January?
Having palpitations because you think you’ve done it correctly, but you rushed it, (Gosh, didn’t that deadline come around quickly?), and now you’re not actually as sure as you were?
Have you got that ‘sick to the pit of your stomach’ feeling, not a million miles away from sitting in the waiting room of the local dentist?
What can you do to assuage that panicky feeling?
Well I suppose you could hire an accountant….
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