DIY Accounting

Do It Yourself accounting, is simply doing your accountants yourself! Though should you do it yourself?

Of course you can do your accounts yourself if you’re an accountant, some kind or maths whizz that also happens to understand the intricacies of HMRC and its multitude of forms. As-well you need to find the time, whilst also running your own business. Guidance notes alone for expenses on HM Revenue and Customs site is over 100 pages, imagine how many guides and advice notes there are for corporation tax, VAT and PAYE!

Companies House has seen a rise in rejections because of people doing their accounts themselves or making do with unqualified accountants.

A recent article from Accounting Age revealed that one in ten accounts filed to Companies House has been rejected, and it was all down to the accounts being incorrectly entered. Often incorrect entries result in hefty fines.

In light of these revelations it demonstrates, the importance of employing a professional accountant.  It’s understandable in the present economic climate that some contractors may be cutting costs and feel an accountant would be too expensive.

Accountancy firms such as, SJD Accountancy are fixed fee Accountants – meaning you will never get an unexpected charge. As a result budgeting will much simpler, and you can relax knowing your accounts will be done on time and free of errors.

Of course you can still do your own accounts, if you feel confident enough you have the needed knowledge. For more information on DIY Accounting:

If you have any question about contracting or would like any further advice please call our New business team on 01442 275789 or email newbusiness@sjdaccountancy.com.