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ACCOUNTANCY
How can an
accountant help
by ALAN SALSAC
MANAGING DIRECTOR
A J Salsac & Company
my business?
The world of business and finance is becoming ever linked. An accountant can attend to these matters for
more complicated and onerous, with regulations and you, acting as your agent and can liaise with the tax
changing tax laws not to mention the ever present authorities on your behalf, preparing all the necessary
uncertainty of running a business. There are many returns, computations and claims, ensuring deadlines
ways in which an accountant can help navigate the are met and penalties avoided saving you any worry
sometimes turbulent waters of the business world, in that regard.
and we aim to give a
brief overview of some It is often perceived
of them here. that the accountant
simply “does the
Many people have books and the tax”
difficulty with the once a year. This is not
paperwork side of true; a good
running a business, and accountant will not
more still simply hate only produce your
it! Why try to do accounts for you, and
everything yourself explain the most
when professional help efficient way of
is at hand? Your dealing with your tax
accountant can deal affairs, but will explain
with many of these to you what those
burdens for you, confusing accounts
freeing you up to focus actually mean for your
on what really matters, business. He or she
running your business will also be able to
and doing what you do point out areas of
best. weakness in the
business and hopefully
The obvious suggest remedies.
consideration for many
people when engaging One decision you will
an accountant is their need to take is whether
taxation affairs and to trade as an
those of their business. The accountant will make sure individual or as a limited company. Your accountant
that you do not end up paying any more tax than you will be able to explain the advantages and downsides
actually need to. of both options, and should you opt for the limited
company route, he or she will be able to attend to all
With both recent and proposed changes in the tax the formalities of incorporating the company for you.
system, the tax affairs of small businesses and those
of their owners are becoming ever more closely There are times when you may need to approach
20/20 thirty eight
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