When you go self-employed you need to make an important decision.
You need to decide if you will look after all the business bookkeeping, manage the expenses, calculate taxes and pay yourself. Or if you will outsource to an accountant to do it for you.
When you start your own business, you need to expect that you will work long hours. Lots of people will tell you exactly this. However, it’s unlikely you’ll realise how much time you spend working on your business instead of in your business.
While you might have set up your own trades business with dreams of just doing the trades work you love. You will spend a lot of time pouring over paperwork, sending invoices, chasing payments and figuring out your accounts.
At the end of a long day on the tools, the last thing you want to do is come back and spend hours dealing with the accounts. If you feel that numbers really aren’t your thing, or you’d rather have time for you, family and friends.- Maybe you should consider an accountant to look after the books for you and help save you time.
A professional accountant that works with other tradespeople can save you a considerable amount of time.
They can manage your monthly bookkeeping, keep track of your receipts and payments from your customers too. You won’t need to worry about your upcoming annual tax-assessment and all the stress that it brings. Instead, your accountant will have it all in hand for you.
Your accountant will help ensure that everything you do is tax compliant. They’ll make sure that you are maximising your tax efficiency too. By keeping your accounts up to date, your accountant can ensure your dreaded tax returns are calculated correctly and paid on time. For more information on Self-Employed tax click here.
By outsourcing your accounts to a qualified accountant, you can prioritise winning work, getting on the tools, providing a great service to your customers and growing your business. All this can be done with the peace of mind that your business accounts are being managed for you.
As well as saving you time, your accountant will be able to spot ways that they can save you money too. This could be claiming back legitimate expenses or cutting unnecessary overheads for example.
If you are looking for an experienced trades accountant to save you time and money, drop us a line now.