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Why does your Company need a Birmingham accountant?

All UK businesses have a legal obligation to report earned income to Her Majesties Revenue & Customs (HMRC) so that the correct tax is paid. This applies to any type of business, whether it is a self-employed individual or a big limited company. Whilst the tax preparation and submission can be done by anyone it is important that it is done correctly. The easiest and most cost-effective way of doing this is to work with a professional accounting firm that can do the job for you.

Some people, on a very limited budget, may choose to attempt this themselves – whilst it can be done it is not advisable unless you are a qualified and experienced accounting practitioner. The UK taxation law is one of the most complex in the world and without years of daily study and financial experience it can be a minefield. A quick read of the HMRC guidance at https://www.gov.uk/hmrc-internal-manuals/self-assessment-manual clearly shows there are thousands of tax and accounting regulations to consider. Specialist small business accountants in Birmingham are relatively cheap in comparison to getting it wrong!