Businesses gain lots of benefits when they employ the services of an accountant to take care of their day to day accounting duties. However, as a limited company you will have far more accounting responsibilities than a sole trader. In turn, this means more benefits from the services of an accountant.
Owners of limited companies can become overwhelmed by their accounts very easily. This is even more so the case if the business owner has no accounting or bookkeeping skills. If you are looking to save time and money when it comes to handling the accounting aspects of business, you need an accountant for your limited company.
It’s worth noting that an accountant for a limited company is not a legal requirement. However, it will make life as a business owner easier. It frees up your time to do what you are best at, running a successful business.
What Do Accountants Do For Limited Companies?
The responsibilities of an accountant cover a wide range of different roles. What they do for one business will be different to what they do for another business. This is because what they do will vary dependent on the size of the company and the accounting needs of the business.
An accountant can help you and your business with the preparing and submitting of the annual accounts. They can also complete VAT returns, manage payroll runs and monitor the cash flow of your limited company. The support and services of an accountant can be invaluable to a limited company, in a whole host of ways.
Here at AK Bookkeeping we are more than happy to offer advice on any tax issues. We can also conduct annual reviews of your accounts too. Many clients like us to handle any HMRC correspondence too, which we can do for your limited company too. We will produce your end of year accounts too, so they can be submitted to Companies House annually.
While you may not feel you need an accountant for your limited company; it can certainly save you a lot of time and stress. As you can see, it certainly pays to hire a local accountant in Peterborough for your limited company to help support your financial business operations.
If you’d like to know more about what we can do your limited company; give us a call!