A question we often get asked is, why someone should hire professional accountants to assist in their tax affairs. There are lots of value adding benefits that can be unlocked with the help of a professional accountant. It takes on average 3-4 years to become a qualified accountant undertaking 13 examinations, 3 years of work experience and ethics and a professional skills module. So, it makes sense to utilise these skills to your benefit.
Why Us?
At MJ Kane, we operate across a multitude of sectors with our team members specialising across many areas to help with a holistic approach to your accountancy needs. Accountants carry out various roles and responsibilities. Including but not limited to preparing tax returns, preparing cash flow forecasts, assist in HMRC enquires, and evaluating businesses to highlight potential tax savings.
Benefits of a Professional Accountant
Tax Savings
One of the most obvious benefits when hiring an accountant to is that you can profit from their knowledge of legislation and the potential to utilise this for tax savings. There may be expenses your business is incurring that you are unaware are allowable expenses for tax purposes. For example, a professional accountant can help claim capital allowances efficiently and correctly minimising your tax burden. They will also be able to advise on certain reliefs available when disposing of assets, helping to minimise capital gains tax, as well as many other techniques in tax savings.
Professional Accountants Have Expertise and Experience
At MJ Kane we operate across multiple sectors which gives us an insight in how different industries work. We can draw upon this experience to help aid in helping with decision making that drives business growth. As professionals we are bound by ACCA’s code of ethics and conduct which ensures we act in a professional manner and keep our knowledge up to date.
Professional Accountants Help With Tax Planning
A professional accountant can help in preparing for future tax bills by proactively tax planning through a range of methods depending on what suits your particular needs. At MJ Kane we have a range of methods on how to plan to reduce your tax such as, director pension schemes, structuring renumeration through a mixture of dividends and salary, Research and Development claims, claiming income tax relief through tax advantaged investments such as EIS, SEIS and VCT’s. All of which aims to keep more money in your pocket.
Keeping you up to date with deadlines
It can be challenging to keep up with all the different deadlines around submissions and payments, especially when there are multiple taxes due at different times. Using professional accountants, you can avail of our IT infrastructure which sends out timely reminders for submission and direct you to the correct place to pay these taxes. Falling foul of missing deadlines can lead to costly fines and penalties, having an experienced professional to keep you aware of all applicable deadlines can be invaluable to your business.
Saving you time
Not only can accountants save you money but also can save you time, by taking the tedious tasks of contacting HMRC, preparing and submitting returns, bookkeeping and many more things. At MJ Kane we aim to save you both money and time to allow you to focus on what you enjoy.
Are Professional Accountants for me?
The answer to this is questions is yes 9 out of 10 times as the amount of potential savings, invaluable advice and time saved outweighs the costs. If you are reading this and think that professional accountants could be a game changer, then contact us to let us assist in in taking your business to the next level.
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