It all depends on your business, whether your wife/partner has proper bookkeeping skills.
If you’re a sole trader who is not VAT registered and you don’t employ anyone, then dealing with your accounts should be fairly straightforward.
However, whoever deals with your books needs to keep pace with legislation changes and needs to be confident in dealing with your Annual Return to HMRC. One mistake could be costly and take a lot of time for you to sort out. HMRC penalties and interest charges soon mount up.
Clients who have come to us after trying to deal with their own accounts have sometimes found we have saved more correcting tax errors than our fee for the year.
If you have other income (such as investments or rental property) things get more complicated.
If you are VAT registered, or in the construction industry and have to account for CIS, or you employ someone (even part-time) then it gets much more involved and we recommend you talk to us.
Businesses now have to submit their VAT Returns on-line, and you need to understand what you can and can’t claim. This is where we can really help. Trying to get by using someone inexperienced could be costly in the long run and can put unnecessary stress on that person.
And the same goes for dealing with wages and deductions, and keeping proper CIS records.
If you’re serious about your business and being successful, it’s a much wiser decision to talk to us from the outset so we can set up the right service for you within your budget. Stick to what you know best, and let us deal with the bookkeeping and accounts.