…so you never need to worry about it!

A good accountant isn’t just someone who files your tax return once a year. A truly great accountant is proactive, strategic, and helps you save time and money, while keeping your business financially healthy. 

A proactive accountant doesn’t just reach out when it’s time to submit your accounts, they provide ongoing insights and financial opportunities. Here’s everything a good accountant should be doing for you – so you never need to stress about your financial compliance again.

Keeping you Tax-Efficient and saving you money 

A great accountant ensures you pay the right amount of tax -no more, no less. They: 

• Help you structure your salary and dividends tax-efficiently (for limited company owners)
• Ensure you claim all allowable business expenses to reduce your tax bill
• Advise on tax reliefs and incentives – and automatically apply all those that are relevant to you

Help you plan for corporation tax, VAT, and self-assessment tax payments in advance, so you never get a surprise bill. 

Nevertheless, if your accountant isn’t proactively working to reduce your tax bill, they’re not doing their job properly! 

Making sure you never miss a deadline 

A great accountant makes sure you never get fined for missing important tax deadlines. They:  

• Keep track of your self-assessment, VAT, corporation tax, and payroll deadlines.
• Send reminders and file returns on time, every time.
• Ensure Companies House filings (like confirmation statements) are always up to date. 

💡Late filing penalties start from £100 and can escalate quickly – a good accountant works with you to make sure this never happens. 

Managing Payroll & keeping you compliant 

Payroll is more than just paying wages – it comes with a number of legal requirements. Your accountant should:  

• Process accurate salaries, payslips, and deductions every month
• Ensure you stay compliant with HMRC’s PAYE and National Insurance rules
• Handle auto-enrolment pension contributions and keep your employees enrolled correctly 

💡 Payroll mistakes can lead to hefty fines, missed allowances, and unhappy employees – a professional accountant ensures it’s done right. 

Helping you understand your numbers 

Your accountant shouldn’t just do the numbers – rather, they should help you understand them. Specifically, they should: 

• Provide clear, easy-to-understand financial reports.
• Help you understand profit, cash flow, and financial health.
• Offer monthly or quarterly management accounts so you can make better business decisions. 

💡 If you don’t know what’s happening with your business finances, your accountant should be explaining it to you.

Supporting you with business growth & strategy 

A good accountant is more than just a number-cruncher – they help you grow your business. They:  

• Offer business forecasting and cash flow planning
• Help you prepare for investments, funding, or loans
• Assist with budgeting and goal-setting to ensure profitability 

💡 Growth planning is a vital part of an accountant’s role – if yours isn’t offering this, it’s a missed opportunity.

Ensuring you stay legally compliant 

Business owners are responsible for a lot of legal obligations. However, your accountant should:

• Keep your company accounts and tax returns legally compliant
• Help you understand director responsibilities and tax obligations
• Advise on IR35, VAT rules, and changes in tax legislation that might affect you 

💡 Since tax regulations change frequently – your accountant should always be up to date and keeping you informed. 

Taking the stress out of HMRC investigations 

Nobody wants to deal with HMRC inquiries, but if you’re selected for a tax investigation, a good accountant will:  

• Handle all communications with HMRC on your behalf.
• Ensure your records are correct and that you’ve followed tax rules properly.
• Defend your case and minimise any penalties if issues arise. 

💡 Even if you do everything right, HMRC can still investigate you – having a great accountant reduces the risk and stress involved. 

Giving you peace of mind 

At the end of the day, a great accountant saves you time, money, and stress. They should:  

• Be proactive, not reactive – applying tax-savings before you even need to think about it, let alone ask!
• Be available to answer questions without charging for every minute of their time.
• Use modern accounting software to make financial tracking easier. 

💡 If you only hear from your accountant once a year, they’re not giving you the support you deserve. 

So, is your Accountant doing enough for you? 

A good accountant should be more than just a bookkeeper – rather, they should be a trusted advisor who helps you make better business decisions, stay compliant, and maximise your profits. 

If your accountant isn’t doing these things, then perhaps it might be time for a change. At BAS Associates, we offer proactive, expert accounting support that helps business owners save money, stay compliant, and focus on growth. Get in touch today!