Your tax affairs are probably the last thing you want to think about when you’re running a small business, or if you work freelance or are a contractor. Every penny is important, whether it’s going into your account or out, but the costs of hiring an accountant is outweighed by the amount of money they’ll save you and their ability to help you grow your business.
Here at Jim Lyons Accounting, we work with a number of freelancers, contractors and small businesses in benefit them in a number of different ways.
Accountants save you time
Consultants, limited company owners, contractors and freelancers need to prioritise generating business and carrying out the work contracts won, so having to deal with all your paperwork, and staying on top of your ingoings and outgoings can be difficult and take you away from your actual work.
The team at Jim Lyons are up to date with all the latest tax rules, regulations, laws and deadlines, as well as completely understanding the format in which to submit information to HMRC. This saves you hours of research and stress, freeing you up to focus on spent your time more effectively.
Reduce your tax liability
A decent accountant will be able to save you money and give you sound advice on the most tax efficient way to run your business. Whether you’re self-employed or own a limited company, we will counsel you on the best way to operate and how to efficiently take money out of your company, depending on your individual situation and circumstances.
We’ll explain how to pay yourself through dividends, what you can and can’t claim on company expenses, the flat rate VAT scheme (FRS) and whether it would be suitable for your company.
Avoiding heavy fines and tax penalties
If you’re self-employed or running a business, you need to keep on top of your finances and paperwork within strict deadlines in order to avoid large fines and tax penalties. When you choose accountancy firms such as Jim Lyons Accounting, you don’t need to worry about any of it, safe in the knowledge that we’ll be taking care of everything for you.
Help with growing your business
Good accountants with lots of experience are a deep source of knowledge and wisdom when it comes to growing and developing your business. When you choose Jim Lyons Accounting, you’ll be allocated a dedicated accountant who will understand the details of your business and gain a large sense of pride and fulfilment in helping you and your business to succeed.
No longer worry about your tax
With the HMRC guide to expenses currently more than 100 pages long, tax is very complex and many small business owners can’t sleep at night worrying about it all. By hiring an accountant, you don’t have to worry about anything as everything will be taken care of for you, including:
- Tax returns
- Preparation of corporation tax computations and Returns
- VAT calculation and submission
- Liaising with Companies House and HMRC
For more information about how Jim Lyons Accounting can benefit you and your business, call us today on 01535 605 247 or get in touch online.