What Should An Accountant Do For You?

Accountants Do It by the Numbers

It's an accountant's job to produce a clear, accurate record of a business' financial performance, and to make sure it's on the right side of the law. You might choose to do all the heavy lifting yourself, but if you'd rather free yourself of the weight and focus on actually running your business, there are other options.

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We're assuming you're familiar with accountants by now. Maybe you even know someone who claims to have seen one once - although he probably had to make an appointment and trek off on some ungodly expedition to do it.

What Can An Accountant Do For Me?

These are the kinds of things that an accountant may do for you. It'll give you an idea what they're all about, but it’s far from exhaustive:

  • Deal with HMRC on your behalf.
  • Keep you up-to-date on changes in tax and financial law, explaining what they mean and how to keep within the rules.
  • Help you to structure your company in the most tax-efficient way possible.
  • Help you to understand the best way to take money out of your company.
  • Explain what you can claim as expenses for tax purposes.
  • Help you to understand your personal and corporate tax liabilities, such as National Insurance, Income Tax and VAT.
  • Calculate your Corporation Tax bill and date for payment.
  • Help you with your personal Self Assessment tax return.
  • Make sure you understand the amounts, deadlines and payment procedures for all taxes you owe.
  • Explain the benefits of various tax planning opportunities.
  • Prepare company year-end accounts.
  • Organise your payroll, including calculation of gross salary, tax, benefits and NI.
  • Advise on the impact of offering shares in your company, and the calculation and payment of dividends.
  • Discover and correct mistakes in your accounts.
  • Create and improve accounting procedures so that everything's consistent.
  • Streamline your budget to improve the bottom line.
  • Work with an auditor if the situation arises.
  • Help with applications for loans or other finance.

How Do I Choose The Right Accountant For My Business?

Accountancy is a huge field, and what makes it so interesting is that every business, and every person running that business, is different. There is no “one-size-fits-all” answer.

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At RIFT Accounting, we take pride in the fact that our accountants are fully organic, and contain no artificial additives to ensure they retain their natural sweetness. They live happy, free range lives and are always scampering about to speak with clients, suggest business plans, offer ideas or talk through strategic options. We've brought them out of the stationery cupboard and turned them loose to show what they can really do.

Great accountants are true team players, always scouting for the best routes to lasting success and sustainable growth.

It takes years of training and experience, and a good one can turn a solid business into a legitimate powerhouse.

It's about much more than making sure the numbers add up. Great accounting can help you navigate the dark waters of regulatory compliance, or chart a course through a new territory

Get in touch with us to talk to real, living accountants today. Go on, ask them anything...

Accounting, or accountancy: the measurement, processing and communication of financial information about economic entities.

Money talks, and accountancy is the language of business. Unless you've got a fluent translator you're going to struggle to understand what's happening most of the time.

Old Tricks For New Dogs

Whether it's a guide dog or a guard dog you need, don't waste time chasing your own tail. Let us chase it for you!

Telling us about your business means we'll always be up-to-date with your records, and lets us give the best advice on how to run it. If something changes at your end, whether in your circumstances or business plans, letting us know means we're better prepared to help you deal with it.

  • 25% of small businesses are still trading after 3 years on average in the UK.
  • 96% of RIFT Accounting Clients are still trading. Let us make sure you beat the odds.

Here are just some of the things we can do together right away:

  • We start with a general, open discussion about you and your business.
    This isn't an exam and there are no wrong answers. Just tell us about yourself.
  • We'll take a look at your skills, knowledge, strengths and weaknesses.
  • We'll review your business needs with you and show you some strategic points to monitor.
  • We'll look at the bigger picture of the industry you operate in, to put the whole thing in context.

At the End of the Year

Working closely together means that you will easily be able to see:

  • A detailed list of your fixed assets (e.g. machinery), with a copy of the appropriate sales and purchase invoices attached.
  • A list of your debtors at the year's end, including how much they owe you and how long they have been outstanding.  We'll even indicate which, if any, are unlikely to pay you.
  • A clear view of all bank and cash balances at the year's end.
  • A list of creditors, which should include what you owe HMRC as well as the usual business suppliers.

With these tools and techniques in place, you'll never have to worry about your business following the wrong scent or chasing a wayward ball into oncoming traffic. Whatever business you're in, when it comes to giving solid, reliable advice, RIFT Accounting leads the pack.

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