When you’re self-employed, you’re used to doing everything yourself—from marketing to customer service and everything in between. But when it comes to managing your business finances, is hiring an accountant for your self-employed business a smart investment or an unnecessary expense?
The truth is, whether you’re just starting out or have been self-employed for years, working with an accountant for your self-employed business can save you time, reduce stress, and even help you save money. Here’s how to decide if you need one.
What Can an Accountant for Your Self-Employed Business Do?
Accountants do more than just file tax returns—they provide valuable support that helps your business run more efficiently. Services include:
- Tax Returns & Compliance: Submitting your self-assessment accurately and on time, avoiding HMRC penalties.
- Tax Planning: Helping you claim all allowable expenses and reduce your tax liability.
- Bookkeeping & Software Setup: Organising your financial records with tools like Xero or QuickBooks.
- CIS Returns (for Construction Workers): Managing deductions and claiming refunds.
- Business Advice: Offering guidance on whether to stay as a sole trader or incorporate as a limited company.
Benefits of Hiring an Accountant for Your Self-Employed Business
1) Save Time
Handling your own accounts can be time-consuming, especially if numbers aren’t your thing. An accountant lets you focus on running and growing your business.
2) Save Money
A qualified accountant will identify every possible deduction and tax-saving opportunity you may overlook on your own.
3) Peace of Mind
Tax rules change regularly. An accountant ensures your finances are handled correctly and in line with the latest HMRC regulations.
When Should You Hire an Accountant for Your Self-Employed Business?
You should consider hiring an accountant for your self-employed business if:
- You’re overwhelmed with bookkeeping.
- You’re unsure what expenses you can claim.
- You want to legally reduce your tax bill.
- You’re growing and thinking about setting up a limited company.
- You work in construction and need help with CIS returns.
How Crossley & Davis Can Help
At Crossley & Davis, we specialise in helping self-employed individuals, small business owners, and construction workers manage their finances effectively. Whether you need help with tax returns, software setup, or business advice, we’re here to make things simpler.
Thinking of hiring an accountant for your self-employed business?
Get in touch today and see how we can help your business thrive.
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