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What Does an Accountant Do?

By August 18, 2017Blogs

Many business owners come to us and ask, ‘what does an accountant actually do?’, so Coleman and Co are here to answer those questions!

With years of experience in the industry and the chance to get specialist accountant support from those leading the industry, Coleman and Co are able to give you an insight into what an accountant really does.

Accountancy is a profession which quite literally runs the whole world of business and commerce and underpins any form of monetary transaction”, Monster.

You’re Not Alone in Wondering

A lot of our clients are often wondering about what accountants actually do. Other than simply managing your accounts, there really is a lot to do in arranging taxation, accounts, bookkeeping, and payroll to make sure your business is up to date with its legal requirements. With a lot of stigma surrounding the profession of accountancy, it’s about time you learned what we really do.

Contrary to popular belief, we are more than just human calculators taking your money from you.

Filing Tax Returns

Tax and the HMRC make the solid base of being an accountant for any company, both limited and private. Just like any business, getting your taxes right is a huge importance and here at Coleman and Co, we make sure that your taxes are taken care of.

When it comes to submitting your own tax records, we are able to make sure your figures are correct and in most cases take care of the submissions for you. You’ll never miss a dead line and you will be as accurate as possible working with professional accountants rather than going it alone with errors and late fees.

Managing Tax Investigations

If you have had tax problems in the past and find yourself under investigation from HMRC, you will need professional accountancy support to guide you through the process as quickly and as smoothly as possible.

One of the first things you need to should you come under investigation, is to stay calm and get in touch with Coleman and Co. Tax can be complicated and we are no stranger to dealing with this difficult part of a business for a whole range of industries. Depending on where about you are in your investigation, we will then take the next steps with you to bring you and your business out the other side unharmed.

You need someone on your side who has experience resolving investigations and knows how the taxman operates. It is likely to be cheaper in the long run, too”, The Telegraph, 2014.

Arranging Business Fees

As financial professionals, we can also guide you with your business fees and how to run your own personal financial accounts on a daily basis. If we spot areas of finances that are underperforming and others that can be better managed, we don’t hesitate to make you aware of these areas to therefore better your business and yourself.

Other Accountancy Services

As well as basic accounting for your business, our team here at Coleman and Co are able to provide you with:

  • Medical industry supports for GP Practices, Salaried GP’s, Locums, Consultants, Hospital Doctors and Dentists
  • Budgeting and forecasting
  • Accounts preparation
  • Payroll
  • Bookkeeping
  • Cash flow forecasting
  • Capital gains tax
  • PAYE
  • Computerised accounting systems
  • Start-up services

Get in Touch

To find out more information about Coleman and Co and professional accountants, call us today on 028 9266 3599. You can also head over to our blog posts and read more for yourself to really get an insight into how important having a professional accountant for your business really is.

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