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One of the aspects of running a business dreading by most is the tax return. Whether it’s a company tax return, the annual return or self assessment return – they can all be troubling if the accountant isn’t prepared. Yes, that’s right – if the accountant isn’t prepared. Let me explain…
In the majority of cases, business owners (including freelancers and contractors) either record their business processes on paper or on some online spreadsheet and then, when they need to send a return, they pass the relevant information onto their accountant for them to do the rest.
Think that sounds like a smooth process? Well, it’s not bad, I guess. However, gathering up that information can take time and quite a bit of effort. And the accountant has to make sense of it all at the other end. Things can be made a heck of a lot easier for all involved, take our example:
Crunch offers every customer an all-inclusive service. That means you enter financial information quickly and easily into an online account and get unlimited access to a team of expert accountants and your own own account manager. When it comes to filing returns, the Crunch accountants have easy access to the very same account that you’ve been inputting all your business information into. That means no sending information to-and-fro, and no keeping your fingers crossed that they’ll understand how to access your online account (as would be the case if you paid for software and an accountant separately).
The online software practically works as a bridge between you and the accountant, ensuring a smooth process when it comes to preparing tax returns.
Two examples of really simple returns are illustrated by the way we handle VAT returns and annual accounts filing. The VAT is super-simple because with every invoice you draw up, the Crunch system automatically calculates the VAT rate. When it comes to submitting your quarterly VAT return, you get an email informing you when it needs to be done. All you then have to do is simply log-in to your account and see that the VAT has already been calculated – leaving you to simply confirm that the details are correct. It’s literally two clicks of the mouse and the return is done.
The annual accounts process is done at the click of a button by our team of accountants – you just need to okay the details and it’s complete. For both you and the accountant the process is really simple.
What this all means is that our accountants can perform the tasks you need them to perform quickly and efficiently. This is the reason we can keep our accountancy fees low – and why we don’t implement a cash clock which charges you by the minute for a chat with your accountant.
In short, our online software means that our accountants are ready and prepared for tax returns – and that you only have to put in the minimum amount of time and effort into the book-keeping and accounting processes.
Over the last few months of 2017 and the whole of January, client managers are busy reminding people of upcoming deadlines and things they’ll need to do to make it easy for them to keep on top of their Self Assessments.