We have recently seen several cases of businesses using unqualified and unregistered so called accountants costing businesses money and causing reputational damage.
Finding a chartered or registered accountant protects you and ensures your business receives the correct standard of care across your tax and financial files. They sign up to a code of ethics and have professional indemnity insurance to protect you.
We recently had a customer who ended up with 3 VAT quarters being incomplete and their book keeper finally admitting they were unable to work with HMRC digitally. This business had also been overpaying PAYE for over 12 months without claiming tax free allowances. This has cost the business potentially in excess of £100,000. The book keeper has also been unable to supply any of the required information to our customers new accountant due to incomplete records. An utter and complete disaster. The stress and sleepless nights this has caused is impossible to measure.
If you start out with a registered and or chartered accountant from day 1 when you grow the pains and records are so much easier to manage. They can grow with you and make sure you make good decisions financially. Which is why most of are in business.
Ultimately going to bed knowing you are safe is why paying for a good accountant is worth its weight in gold.
If you need help in finding your first or next accountant please visit www.thecurtispartnership.co.uk.
Contact us to learn more by clicking here: Contact Us