Is Your Accountant Asleep? Wake Him Up! Part 1

Over the past few years, many entrepreneurs have shared with me their experiences and the challenges they encountered while working with accountants.

They spoke of a lack of support, insufficient communication, and most importantly, services that did not meet their expectations or business needs. These stories inspired me to act and became the foundation of TaxOne's mission. I wanted to change the way accounting and tax advisory services are perceived in the UK.

However, to achieve this change, it was first necessary to find someone with the right qualifications who could help businesses in need of growth. Kasia is that person, and she will be joining our team very soon.

So, what do we believe accountants should offer?

Individual analysis of a company's tax and financial situation 

In my opinion, an approach based on individual financial and tax analysis of a client's business is not only important but absolutely crucial in providing accounting services. This allows not only for a deep understanding of the specifics of each company's operations, but also for the identification of unique challenges and opportunities. A good accountant, using this method, is able to propose tailor-made strategies, which genuinely address the business needs of the company.

Increase your savings with Super Deduction

The story of Mariusz's construction company, which planned to purchase an excavator, perfectly illustrates the importance of strategic accounting advice. The company was unaware of the possibility of using "Super Deduction" – a relief that allows for a 130% deduction of the capital investment value. Purchasing an excavator for £21,000 under normal circumstances would have resulted in tax savings of £3,990. However, by applying "Super Deduction," the savings increased to £5,190, providing an additional £1,200 in savings.

The value such a service brings is expressed not only in direct financial savings. It helps the company gain better control over its finances, which translates into greater stability and growth potential. This approach should be standard in the accounting industry, as it provides companies not only with accounting support but also a strategic partner in financial management. 

Does your accountant work this way?

If not, check out part two to see what else they should offer.