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Regardless as to the size of your business, finding the right accountant can make a significant positive difference to the way in which your business runs.

But with so many different accountancy firms out there, how do you know if you've made the right decision?

Fortunately, that's where CommercialExperts.co.uk can help.

CommercialExperts.co.uk are one of the UKs leading business to business comparison services. We help 1000s of companies of all sizes to compare and save on the very best, most cost-effective Accountancy Services (as well as lots of other essential business products and services) each and every month!

To start your search and find the best accountant to fit your business, simply complete our 2-minute form by clicking the "start free quote" button below.

We look forward to helping you.

Compare quotes from local accountants in 3 simple steps

1. Complete our simple assessment form (takes less than 2 minutes).

2. Based on your specific criteria, we search and compare leading accountants within your area (all for free and with no obligation).

3. Compare a range of quotes and see how much you could save.

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Why compare accountancy services?

Owning your own business is often an exciting prospect, but can also be quite daunting.

One thing that may not be exciting however is your business’ finances, unless of course you love a good spreadsheet.

Keeping on top of finances can also be a stressful job when you’re already trying to juggle so many other daily tasks.

This is why outsourcing to external accountants can be a great way of making running a business just that little bit less stressful.

How Does External Accountancy Work?

Each accountancy firm will have their own specific procedures but generally the process is pretty straight forward.

Once selecting your accountancy firm, they will then contact you with regards to what documents you will have to send off to them.

These will naturally be financial documents such as invoices and sales records etc.

In response you can receive your management accounts, an estimated tax bill and bespoke monthly advice amongst numerous other benefits.

How Can External Accountancy Help My Business With?

There are numerous ways in which outsourcing your accountancy can help your business to grow.

Below we’ve put together a list and a quick description of exactly what external accountancy can do for you.

Monthly Management Accounts
You will be sent your management accounts as well as an estimated tax bill every month along with tailored advice, bespoke to your situation.
Bookkeeping
Did you know that small businesses spend roughly 10 hours a month bookkeeping?

That’s 10 hours that could be spent focusing on other areas of your business, socialising with your friends and family or losing to children at an online game.

Accountants will take care of this for you including the most tedious of tasks that come with bookkeeping.
VAT Returns
Always a hassle and if you get it wrong HMRC can ‘default’ your business and this can result in surcharges and penalties.

Even something as simple as submitting your returns via paper unless given exemption can result in a £400 fine.

With the professional accountants taking care of these matters, you don’t need to worry about incurring any of these fines.
Payroll
Salaries and wages can be complicated enough on their own but when you factor in additional payments such as bonuses and commission, things become even more complex.

Outsourcing to professional accountants means that you can sleep soundly at night knowing that your staff are always being paid correctly and on time.
Statutory End Of Year Accounts
End of year taxes.

Even just saying that sends a shiver down most people’s spines.

Luckily that daunting task can be a thing of the past if you decide to hire professional accountants to take care of your finances.

All you have to hand over is:
  • Sales invoices and details
  • Paperwork for purchases & expenses
  • Business bank statements for the year

This way you can go into the new year without the dread of submitting those end of year taxes.
Corporation / Partnership Tax Return
If you’re a small business, limited company or partnership, then you will; need to complete a Corporation or Partnership Tax Return to be sent to HMRC.

Dealing with HMRC, as already mentioned can be a bit of nightmare especially if not handled properly.

Professional accountants however are experts in navigating HMRC and you don’t have to worry about being issued some arbitrary fine.
Self-Assessment Tax Return
More HMRC documents, more chance of penalties and fines.

A self-assessment tax return needs to be completed if you are self-employed or are a director of a company or receive any other non-taxed income.

This can often be a long and quite arduous process.

That is of course, unless you’re hiring external accountants.

What Are The Benefits Of Hiring Accountants?

No Payment Delays
No matter if it it’s an employee, customer or HMRC, if you owe them money then these will always be paid on time.
Monitoring Cash Flow
Accountants, with their expertise and specialist software can show you your exact incomings and outgoings with pin point precision whenever you desire.
Expert Support
You will typically have your own personal accountant or team responsible for your company’s finances and their expert knowledge, support and advice are at your service.
Navigating HMRC
Yes, it’s yet another mention of HMRC and their penalties.

You’re probably sick of hearing about them now so we won’t dwell too much on them but as mentioned accountants know how to navigate this tricky world without incurring any of the penalties that comes with it.
Record Keeping
Accountants will be sending you regular documentation and records about your finances for you to store as you see fit as well as keeping records themselves.

This way you always have an official paper trail when it comes to your finances.
Additional Services
Accountants can help with other business matters such as; financial strategy, establishing relationships with banks and solicitors and if you’re just starting out then they can help you decide on the most suitable structure for your business.

I Already Have An Accountant, Can I Switch?

Absolutely.

Most accountancy firms will even take care of that entire process for you, from cancelling your agreement with your current accountants, to registering with HMRC.

You’ll be asked to send over the required documents when needed and that’s about it.

How Much Will It Cost?

There is no one size fits all answer for this I’m afraid, but most accountancy services are very cost effective and will be priced very much inline with the size of your business, and its requirements. Smaller firms and sole traders will pay considerably less than larger firms.

Each firm will charge different rates and include different services.

Typically, firms will charge on a monthly basis however, so this will be a rolling expense as opposed to one lump sum or being charged per project.

Like all things in life, it is very important to compare one accountancy firm against another to ensure that you are getting the best deal.

How Can I Get An External Accountant?

Hopefully that's cleared up some questions that you may have regarding how hiring an external accountant can help your business.

Now the last one you most likely have, is "how can I get an accountant"? Well, the process couldn't be simpler; all you have to do is click the "Start Free Quote" button to start comparing prices in seconds.

This is an absolutely free service and there's no obligation to commit, so click the button, follow the prompts and get comparing now.