If you run your own business you should be aware of how much work you need to do in order to keep your accounts in order. You will have the option of using an accountancy firm to manage the financial side or doing it yourself. Depending on how large your business is and how complicated may mean that you will struggle to do all the accounting yourself. You may have employees and therefore also have to manage a payroll.

There are a huge number of book keepers and accountancy firms out there that will do as much or as little as you want them to do. You may wish to do all the accounting yourself but then have them audit you every few months to check that you are doing it correctly or you may ask them to manage the whole thing, so you literally send all your invoices to them for them to input. They can also manage VAT returns as well as personal tax and P11D’s. Obviously the more work you ask them to do the more you will be charged, but this can often free you up to allow you to manage and run the business as you need to so can often pay for itself.