27/09/2021 0 Comments
I’m a Sole Trader- Can an Accountancy Service Help Me?
For many sole traders and self-employed individuals, the thought of hiring an accountant to help with business operations may seem daunting, but this should not be the case.
While many people believe that accountancy services are reserved for medium-large businesses, the truth is that an accountancy service can be as beneficial, if not more beneficial, to standalone traders and self-employed workers. Being self-employed as a standalone worker is a unique situation in that you often work many jobs at once. From marketing to PR, sales, social media, and finances, sole traders are a unique bunch that are often expected to keep everything in a business afloat- which is no mean feat! If you’re a self-employed sole trader and you’re considering hiring an accountant to help with your finances and bookkeeping, here’s how we can help.
How Much Does an Accountant Cost?
First of All, Let’s Bust The Biggest Accountancy Myth out there- that hiring an accountant is too expensive for a sole trader. One of the main reasons sole traders are reluctant to hire an accountant to handle their finances is the perceived cost associated with it. As a smaller operation, sole traders generally have to be more careful with finances and expenditure, which makes hiring an external service to help with accounting seem like a waste of money. This couldn’t be further from the truth, however! As well as being less pricey than many would assume, accountancy services can be hired on a once-off and contractual basis on a schedule that suits you. Whether you want to pay an accountant hourly, monthly, or annually, most accountants for sole traders will organise a payment schedule that is flexible and suits the needs of you and your business. Interestingly, many small business owners actually report that hiring an accountant saves them money, freeing up time that would normally be spent filing paperwork and doing taxes to focus more on sales, marketing, and company growth.
So now that you know you can afford an accountant… what can they do for you?
One of the most important services that a company like SVCO provides to sole traders is tailored bookkeeping services. As a business, ensuring your paperwork, important documents, credit control information, bank statements, and more are kept safe and organised year on year is a must for the compliance, growth, and overall success of your company. Our team, as well as many other Dublin accountants, offers bespoke bookkeeping services available on a once-off and contractual basis. These bookkeeping services can benefit sole traders in a range of industries ranging from hairdressing and writing to freelance consulting and tutoring. By allowing a third-party company to look after bookkeeping for you, you can rest assured that your documents remain accessible, filed, and compliant all year round.
For many sole traders, filing tax returns is one of the most frustrating, confusing, and time-consuming parts of being a business owner. Similar to our professional bookkeeping services, SVCO provides an extensive range of Dublin tax services suitable for self-employed individuals in a range of industries. From answering general tax questions to corporation tax services, payroll tax services, end of year tax filing, and more, we look after all aspects of tax compliance and payments so that you can relax and have peace of mind that all areas of your company’s tax requirements are being taken care of. As a company dedicated to empowering business owners, we also ensure to answer any questions in an easy, straightforward, and accessible manner to keep you in the loop on all things related to your company’s tax payments and requirements.
Business Advisory Services
While working as a sole trader can be extremely rewarding, it can sometimes feel difficult to bounce ideas off other people and get a third-party opinion on the future of your company and/or company goals. With this in mind, SVCO provides Dublin business advisory services for sole traders in a wide range of industries, helping you to scale and grow your business with our expert advice. Whether you need help planning a roadmap of future goals for your company or simply want some reliable advice on the best steps to take when up-sizing your organisation, we offer unbiased, honest, and straight-talking advice on all things to do with running a business. Over the years we’ve helped empower countless business owners to grow, working on tailor-made plans with sole traders to help you level up and expand your company and revenue with ease.