Find an Online Accountant for your Small Business

Do you run an SMB? Are you just starting your company? Wondering where to turn for professional business support?

It’s never been easier for business owners to connect with the right accountant. Using our new service at Accountly.co.uk, you’ll be able to enter a few details about your company or business and instantly see accountants and bookkeepers who work with similar companies to yours, helping you achieve the best results for your business.

All of the accountants and bookkeepers we work with are qualified professionals who work on a simple, fixed price basis – no ‘bill shocks’ or nasty surprises, just a regular affordable monthly payment in exchange for professional support and business advice. What’s more, this service is exclusively online. An online accountant or bookkeeper is the best solution for many businesses adapting to, or starting up in the online world.

An online accountant will assume the role of a traditional accountant but thanks to modern technology and software, can often complete the same jobs in a fraction of the time (and cost!) and with no face-to-face meetings required.

What are the benefits of hiring an Accountant for your Business?

Company finances can be complex and often result in diverting your time and attention away from what matters most – your own business. If you are struggling to keep up with your business’s financial accounts, then you may want to consult an accountant for help.

By hiring professional support, they can undertake all accounting duties and remove the responsibility of tax deadlines from your shoulders, freeing up your time and energy so that you can concentrate on other parts of your business.

Here are 3 important benefits all business owners should consider:

An accountant could reduce your tax

Qualified accountants spend their day dealing with HMRC and staying up to date with the latest rules and regulations, so you don’t have to. Because of this, they are usually well-versed with legitimate ways in which companies and sole traders can keep their tax rates as low as possible.

On average, business owners pay more tax than they need to, simply because they don’t know of certain government schemes or initiatives, flat rate schemes or allowed expense claims than can help them to save thousands – and the savings typically exceed what you’ll be paying for the accountancy help in the first place.

Accountants can help you avoid hidden costs, and make cost-effective business decisions.

An accountant could prevent you from getting into legal trouble

It’s something we’ve all been guilty of – focussing so much on our business that we lose sight of some of the legal obligations such as filing accounts on time. Today, with a much lower barrier to entry into the business world, arguably it has never been more important to arm yourself with good business support in the form of an accountant or bookkeeper.

According to a recent survey, 10% of accounts filed to companies house are rejected due to mistakes. These mistakes, including miscalculations on crucial figures, can result in you paying more tax than you legally owe.

There are many tax deadlines throughout the financial year that, if missed, can result in a financial penalty. Add on the interest payable on these penalty fees and you can clearly see how costly these mistakes can become.

Ultimately, these deadlines exist to help companies house analyse data and for HMRC to collect any monies due. It is considered so important that it is in fact a legal requirement – one which a qualified accountant can help you stay on top of.

An accountant could help you make profitable business decisions

Accounting is often referred to as the ‘language of business’ and is considered the main driving force behind commerce. It is the connector between your business and the market. One bad business decision, whether that’s overhiring or investing in an asset, can be enough to guarantee your business’ failure.

An accountant or bookkeeper with a detailed knowledge of your company’s financial state and forecast can help you make informed decisions and potentially determine the success of your venture.

How could an accountant help my Startup?

While you’re focussing on the important things such as branding, business planning, market research and product sourcing, it’s easy to overlook the numbers.

Working with a professional means you can get help establishing yourself in the market and make a profit as quickly and safely as possible, while minimising your financial risk and staying compliant with HMRC. Most importantly, their experience is valuable in helping you avoid those common costly mistakes which can be detrimental to a new business.

How could an accountant help my growing company?

Sole traders or proprietors looking to expand their business need to handle the process delicately and ensure compliance while minimising the risks associated with expansion. Whether you’re looking to relocate, move to a larger premises, open your first shop or just hire more employees, making the wrong decisions at this transitory point can ruin your entire business.

A common misconception of many business owners is that they think they have to go through these things alone, but you don’t have to leave these things to chance. An accountant will help you to control costs by drawing up realistic budgets and using evidence to determine whether or not the proposed changes are likely to benefit your business.

Can I do my own Company Accounting?

Yes, it’s possible to do your own accounting but you must know what you’re doing. When it comes to doing your small business or small trader accounting, you’ll have to be up to date with all the rules, deadlines, regulations and standards. Staying up to date can be extremely time consuming and accounts can be a complex field. While it’s possible, in most cases you will almost certainly be missing out by not hiring a qualified professional to handle the work on your behalf.

How much does an Accountant cost?

Costs can vary widely depending on the practices of the firm or individual you choose, along with the nature of your own accounting needs.

Accountancy for SMEs and Sole traders varies with the complexity of your accounts. On average, businesses and companies pay around £2,000 per year for a full service accountant and bookkeeper (this may be less or more depending on your turnover, number of transactions, structure of your company and a number of other variables). Traditionally, you would also need to factor in the hourly rate of your accountancy firm for extra meetings, ad hoc phone calls and any problems which may arise outside of the scope of your basic service.

There is a new way to look after your business finances however, which can save you time and money. Online accountants offer fixed rate monthly packages with unlimited access to remote support and advice from qualified professionals.

You can get an instant tailored quote at Accountly.co.uk, a new service which will match you with a qualified accountant most suited to your business size and requirements.

Although many people are drawn to DIY accounting because they’re put off by the costs, it is widely thought that businesses quickly recoup the cost in the amount of tax and fees accounting expertise can save.

How do I search for an accountant?

You can find professional support without leaving your desk (or sofa!)

Visit Accountly.co.uk, enter some information about your business and receive an instant quote. You can be set up within a matter of hours and receive the countless benefits of an accountant without ever having to leave the comfort of your office or home.