Accountant Newcastle: Benefits of an Accountant in Newcastle
Sometimes, people underestimate the key role played by an accountant. Newcastle is one of those cities that recognizes the importance of these professionals and the results have been amazing.
Most people believe that accountants are only needed when they need to have their accounts audited, help with preparing and submitting their annual tax return and dealing with any disputes with HM Revenue and Customs.
Accountants play a much more important role than just helping you with your statutory requirements. A good accountant should be a trusted adviser and one who can help you to grow your business and minimise your taxes so that you do not pay more than you are legally obliged to pay.
How important is an accountant in Newcastle? Should individuals and businesses use accountants and what are the benefits of using an accountant in Newcastle?
Business owners, as well as entrepreneurs, need the services of accountants for the following reasons:
- Preparing your statutory accounts and making sure you are meeting your legal obligations in terms of reporting, disclosure and the requirements of the Companies Acts.
- A new business, if not correctly registered, including for VAT purposes, could result in fines, penalties and interest being due. To avoid this, an accountant is vital.
- To be able to allocate and pay all taxes on time, together with the related reporting requirements.
- To advise and help you seek redress when you are in dispute with the tax man.
- To advise on business succession, raising finance and how and what your exit should look like.
In addition, note that accountants are not just there to guide you whenever you get into trouble but also to guide you to avoid such situations. They offer their expertise in areas that concern finance, accounting, estate development, and planning, trustee management and minimising your taxes in a legal and tax efficient manner.
Benefits of Accountant Newcastle
There are enormous benefits of having an accountant and these include:
- To sort out the accounting and reporting aspects of your business:
An accountant deals with all accounting and tax aspects of your finances. This includes employees’ payroll tax issues, international business related tax laws, and even assistance in cases of tax disputes.
- Helps you seek redress:
Most times we make payments of taxes to the government without being sure we are supposed to make such payments. An accountant helps you to seek redress and advises you against further incidence.
- Tax Negotiation:
An accountant understands the proceedings involved in taxation and hence helps the individual or business entity to negotiate with regulatory bodies to ensure that their clients are not over taxed.
- Saves money and time:
Having an accountant should help you save money through claiming allowable deductions and maximising tax efficiency and time with bookkeeping and related compliance requirements that you would have otherwise have had to spend. You want an accountant who is proactive in spotting the issues before they arise and as seen as a key player of your power team.
Overall, if you are looking for an accountant in Newcastle, then you have come to the right place. We are specialists in this area and have many years of practice helping our clients to be successful.
Call us today on 0191 394 0151 to see how we can help you grow your business.