Helpsheet 8: Accountants

Last Updated on 29 June 2026

Accountants are not there to take financial responsibility away from you!
You are legally responsible for your own tax even if someone else files your returns.

An accountant’s main role is to help you pay the lowest amount of tax (while staying legal), and get your tax return in on time. If you are working through your own limited company they can also help you set up, and do annual company paperwork, payroll, etc.. Accountants are not compulsory for sole traders and small companies.

Why do you need one?

• Because you’re not an accountant
• They can do some of the form filling
• They can advise on allowable business expenses
• They should remind you when things are due (agree this up front)
• To keep track of changes in legal requirements, rates and regulations
• They have a special hotline to HMRC advisors. You don’t.
• Find new ways to save money

How to find one?

• Ask around – personal recommendations from friends in the same business, or other local business contacts
• Make sure they belong to one of the professional bodies
• Ask them if you can speak to other clients (as a reference)

What to discuss with an accountant?

It’s really important to discuss with an accountant the impart of HMRC’s new Making Tax Digital quarterly reporting requirements. For example, do you get MTD software and give your accountant a log in? Or the other way round? Will you do quarterly reporting yourself? See more in help sheet 4 >

• How much will you do yourself? You can cut costs if you’re organised.
• What’s the easiest way for you to keep records and pass them on?
• How are they dealing with Making Tax Digital? Do they recommend any particular software? Can they get you a cut-price deal on software?
• Who will actually do your accounts? The office junior?
• When will you be charged and for what?
• How often will you meet (if at all)?
• If you’re VAT registered will the accountant do VAT returns too? You might feel you can do this yourself, especially if you’re using bookkeeping software which may well have VAT reporting built in.

Remember, your accountant will know all about your financial arrangements. He or she needs to be someone you trust and get on with.

If your business regularly has a lot of invoices or receipts you might prefer to use the services of a bookkeeper to keep track of income and expenditure.