Accountancy FAQs

Book-keeper or Accountant?

Book-keeping is the bit you could do yourself.  But it is important to remember that accurate book-keeping is the basis of your Annual Accounts and, therefore, your Tax Return and Assessment.  If you don't have time, or feel very worried about this, then yes, get a book-keeper, and pay them to do the book-keeping.  There has always been scope for independent bookkeepers to focus exclusively on this area of activity but as a book-keeper will not usually have full-scale training in accountancy, and if so, won’t be able to produce annual accounts and the various tax returns etc.

Also a qualified accountant will have a professional requirement to stay up to date and knowledgeable about tax and accounting legislation. Whereas a bookkeeper (who may keep themselves well trained) has no professional requirement.

Could your accountant do your book-keeping?  Yes, of course – there is some logic to this and as most accountants charges are reduced for this type of work, it will probably be just as cost effective.

Your accountant will always do more than just book-keeping, even if you just have one meeting a year to discuss the accounts and tax return. 


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