For those who have just got used to the current UK accounting laws, there may well be a nasty surprise waiting around the corner. As of 2013 there is a good chance that many British companies will have to totally change the way they run their accounts. The new process will be in line with international standard and will no doubt plunge many company’s accounting departments into chaos.
So what can be done for those companies who don’t want to lose money as a result or indeed spend the laborious time attempting to become au fait with the new regulations?
Well, whether the changes end up affecting a company or not, there is still a lot to be said for utilising outside accounting services. The best accountants who deal with limited company accounts will do so without taking the flexibility away from the company meaning that the company can continue to have full control over the all aspects of its running whilst the complicated returns are taken care of, with an ear on hand whenever it is needed.
The right accounting services will also usually be available at the click of a button so problems or queries can be resolved almost instantly rather than having to wait around.
After the recent disarray in tax, including the government’s own well-publicised miscalculations of millions of people’s tax payments, there is no doubt that for almost all companies, guidelines will be changing one way or another. So whatever type of company you are, if you have limited company accounts that need to be kept up to date, such outside services can often do so at a reduced cost meaning you not only save time but also that everything you are doing is in line with whatever new guidelines are thrown at us. And you may even find yourself paying less tax in the process.