How Hiring a Personal Accountant Can Save You Money.

So many small to medium-sized businesses forgone hiring an outside accountant until it’s absolutely necessary.

The main reason business owners’ site for the delay in seeking accountancy assistance is the perceived cost involved.
This is a perfectly reasonable answer. After all, every business is interested in saving money. However, forgoing the services of a qualified accountant might have the inverse effect and end up costing the business owner a significant amount in the long run. We would argue that a good accountancy firm will save a business money in the long. In this blog, we are going to discuss how an accountant can streamline your business’s expenses.

Helps to Avoid Incorrect Invoicing

VAT is a complex area that has only become more complicated due to Brexit and the Northern Ireland protocol. With so much to think about in regards to VAT legislation, it’s understandable that a business may make an error on their invoicing. However, invoicing errors can cost a business thousands. VAT legislation means that a fine of €4000 can be issued per incorrect invoice. Fines can be devastating to a business. Luckily this potentially massive expense can be avoided by hiring a professional tax accountant. More information on our tax accountant services can be found on our personal tax accountant page.

Advise that helps you avoid costly business mistakes

When a business is interested in expanding or targeting a new market it’s extremely important to seek out independent and impartial advice. While on a surface level a business’s finances may seem primed to expand, there may be some other issues a business owner isn’t aware of. Expanding or targeting a new market can be a costly mistake if it doesn’t prove as successful as expected. The business advisory services provided by Ferrell Accountancy help identify if it’s the right time for a business to expand. We can also access your internal business processes to identify areas where you can streamline services and save money by reducing or stopping unnecessary expenses

Making Your Business as Tax Efficient as Possible

Ireland is a business-friendly nation that offers numerous tax reliefs and tax saving schemes across a huge range of industries. To make sure your business is taking advantage of these tax incentives, you should hire a professional tax accountant. Our tax accounts make sure a business is as tax efficient as possible.

Do you still have questions on how a Dublin accountant can save you money? Contact our offices today and schedule a consultation with a team member. We can be reached by phone on 015134886 or by email at ciaran@farrellaccounting.com