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Understanding your business tax obligations is easy when you outsource to an accountant

As a new business, it can be difficult to negotiate your tax obligations. Starting your business has been a complex enough process, but now on top of handling your cash flow you need to provide self assessment tax returns. This can seem like an impossible challenge, and one you simply don’t have time for – which is why it makes so much sense to invest in an accountant.

Even as a start up, investing in the services of a professional and experienced accountant can be invaluable.

Understanding taxation

You accountant can tailor their service to you. If you want to just make sure your tax is handled professionally and reliably behind the scenes, they will be able to oblige. It always makes sense, however, to be as knowledgeable as possible about your financial requirements, so if you want to learn more about how taxation works and what your obligations actually are, your accountant can help you here too. They can break down a complex subject into bite-size, easy to process chunks of information.

Knowledge is power, and actually understanding your tax situation will benefit you as a business owner.

But, can you afford it?

Entrepreneurs and small business owners rarely need convincing that getting professional help with their bookkeeping is a good idea – it’s always better to have a professional taking care of something so you don’t have to. The problem is they often feel that outsourcing accountancy is going to be an expensive proposition, reserved only for successful businesses with swollen budgets.

The truth, however, is quite different! Even if you started your business today, you can afford the services of an accountant.

Remember that accountancy is a service provided with scalability in mind, so as a small business your needs are relatively simple to satisfy. That means the time billable and services rendered won’t lead to large bills. As your cash flow streams grow more complex, so too will your needs, but you will be working with a much larger budget. Accountancy is never a bad business investment.

To learn more, or to get a quote, contact CWR Accountants today.