When you run a business, you are legally required to keep certain financial records, like tax returns and VAT details. You might decide to do some of this yourself, but you need to weigh up the cost of a professional accountant against the time and potential headaches it could cause you.
When looking for an accountant, you should ask questions like:
Who will be looking after my business on a day to day basis?
What are the charges and what do they cover?
What timescales do they work to?
To find an accountant near you, take a look at the Institute of Chartered Accountants at www.icaew.co.uk, the Association of Chartered Certified Accountants at www.accaglobal.com or the Chartered Institute of Management Accountants at www.cimaglobal.com. You could always ask friends or contacts if they’d recommend their accountant
Many sole traders find they don’t need a full accountancy service; a book keeper will often meet their needs. To find a book keeper, check www.book-keepers.org
