The Benefits Of Using A Bookkeeper

Written by on May 11, 2013 in Money - No comments | Print this page

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sexy accountantAs it seems like the end of a tax year is never too far away, businesses all over the country are always look to see if hiring a bookkeeper is a good idea.

It does not matter if your company needs help with VAT expenses, fling a self assessment return, or devising complicated payroll structures, there is a bookkeeper that is a specialist in that area.

Here, we will explore just a few of the many benefits if you are thinking about hiring a bookkeeper.

A bookkeeper will be able to spot points that you will not

Bookkeepers have gone through years of training to learn everything about the industry. As this is the case, they will be able to spot any areas where you are eligible for deductions or refunds that you would simply miss because you do not have the same knowledge.

This is a common problem that some businesses experience but have no idea about because they are not aware they are eligible and HMRC will not tell you!

You can be safe in the knowledge that you have done everything right

Anybody that is self employed or runs their own business and submits their tax return will worry that they have made a mistake somewhere in it, which could lead to an audit and fines.

Unfortunately, filing your taxes with HMRC is not a simple even if you are organised. There are so many businesses that have issues with HMRC even when they think they’ve got everything right.

A bookkeeper can actually save you money

If your accountant is preparing your taxes for commercial reasons, did you know that the cost can be deducted in computing rental business profits?

Furthermore, as mentioned, as an accountant knows what they are doing they will be able to spot areas that you have been missing, which could save you money. The last benefit that many people miss is you do not have to spend hours on end doing your tax return.

This gives you the time to continuing doing your own job. For instance, if you make £20 an hour, and it takes you ten hours to do your tax return, then that it £200 you have lost and people do not consider this point.

If you are having problems working out your bank reconciliation statements to your VAT rates, then you need a bookkeeping service. However, keeping your accounts using a program like Fusion Tables (on Google Apps) may mean that your bookkeeper has less to do, which will save you money.

Kristian has plenty of experience using Google Apps UK. He has worked with a number of companies that use it, and he has it himself personally to keep track of accounts.

Image courtesy of imagerymajestic / FreeDigitalPhotos.net

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