Why you should have an accountant

Written by Alan Davidson
Alan Davidson is a Chartered Accountant, director and founder of Pentins Business Advisers, entrepreneur and author of the Amazon best-seller "Achieve Your Business Vision". With over 25 years of helping businesses succeed, Alan knows how to build a business with real value, while avoiding costly mistakes.
March 15, 2021

There are good reasons for hiring an accountant at all stages of your company’s growth. From a business plan to company formation, loan application to tax investigation, an accountant can make life easier for you at every step.

You might already consider using an accountant for compliance serves like payroll and tax returns. But have you considered the other specialities that your accountant can help you with, such as business advisory services and tax relief?

In this article, we have gathered some key reasons why we believe that every business benefits from an accountant.

Expert advice when writing a business plan

Are you focusing on the right areas of your business? Will your business plan actually help you reach your goals? An outside perspective from an expert business adviser will help you clear things up, and make sure that you’re moving your business in the right direction.

Help you understand your numbers

Use your accountant’s expertise to make the best decisions for your business. Your accountant should be able to help you with forecasting, cashflow control and finances. They should also be able to help you understand your numbers. This makes you better positioned to make strategic decisions with confidence.

Advice on your company’s structure

An accountant can give you advice on different company structures, and help you choose the right structure for your business. They will also be able to give you proactive advice to decide if and when you should change the structure of your business in the future.

Assist you during every stage of your business

Whether you’ve just decided to start a small business, or you’re in the process of selling or closing it down, or anything in between, your accountant will be able to help you.

We help clients through every stage of business, from making the first crucial decisions, through setting and reaching their goals, to exiting the business. Working side by side with you every step of the way, we will get a thorough understanding of your values, strengths and weaknesses, and how your business can succeed.

Deal with HMRC on your behalf

It can be quite a challenge to deal with HMRC. For accountants however, it’s often a normal part of their day. An accountant will know exactly what to say, where to turn and how to efficiently deal with HMRC enquiries on your behalf.

Help with applications for financing, grants and more

Your accountant can help you find grants or schemes, and to apply for these. Accountants can also help you apply for finance, and write reports and letters to help you find suitable finance, investors and more for your business. 

Stay compliant with the law

Accountants are kept up-to-date with changes to laws and legislation. When your finances are managed by an accountant, they can ensure that your numbers are run by the book. 

An important investment

It’s important to understand that an accountant is an investment, rather than a cost. Gone are the days when your accountant was someone who would sort out your paperwork a once a year. In 2021, you should consider your accountant an important part of your team. They can help you move the business forward, help you make great decisions, and save you money by being proactive with business and tax advice. 

Having a quality accountant could be the best business investment you’ve ever made. If you want to learn more about how Pentins works, and how we can help you, book a free call with one of our expert advisers today, and let’s talk.

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