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Changes to tax free dividends 2017

Benefits of Using a Chartered Accountant

Are you a business owner? Then your business will gain significantly when you hire a chartered accountant. Our chartered accountants will ensure that the books are well kept, and they’ll also handle all the tax issues. Additionally, your accountant will have worked for a variety of customers in a wide range of sectors to get his or her chartered status. Therefore, our accountants and business advisors have the right knowledge and understanding to best help you.

It does not matter how small or large your company is; you’ll easily get a chartered accountant who’ll get you sorted. For those with any doubts, here are just some of the benefits:

They Act as Trusted Advisors

A chartered accountant has the educational qualifications to manage all your accounting and financial tasks well. Such a professional has the expertise needed to advise on taxation matters.

Hiring us as your business accountant will allow your business to gain more from tax benefits since you understand how to deal with tax codes and filing for tax returns. If the laws incur any changes, it won’t matter since a professional accountant will ensure you’re updated when such changes occur. Also, you’ll gain from business compliance.

Your accountant will also review the accounts annually, and you won’t experience any audit risks. The tax bills will also go down, and your business will also perform well. When an audit needs to be carried out, you’ll be confident that all the accounts are in order.

The Taxes Will be Handled Accordingly

A chartered accountant will handle finances and taxes accordingly. Ensuring that your business complies fully with the law, and you won’t experience any trouble with the authorities in charge of tax matters. They can also help you fill out all the needed paperwork. Giving you peace of mind since you’ll know that all the transactions are handled well.

Access to A Range of Services

We are a prominent company of accountants, taxation, and business advisers in Cardiff at Linghams Charted Accountants. Our goal is to assist our clients in achieving their company goals, increasing financial stability, and creating a trusted relationship by focusing on solutions. We offer a wide range of services including accountancy and business advice, corporate and personal tax planning solutions and compliance, cost-effective audit solutions and a variety of support services.

We find comfort in being trustworthy and professional at all times. To assist our clients in expanding their businesses, we tailor our services to their specific demands. Our accounting team will give good, honest financial advice to our consumers that they can trust year after year.

Save on Time and Money

In business, time is translated to money. You need to focus your energy on growing your business while ensuring that the products and services you’re offering are competitive so that you can meet the market demands. You’re also supposed to build connections. With such factors in mind, you can hire us as your dedicated chartered accountant to handle all the accounting paperwork in your firm.

You’ll save more time and money and will also have time to focus on important tasks for your firm. Your accounting needs will also be handled professionally, and there is no need to stress about tax deadlines, penalties, and fines.

You’ll Gain from Expert Business Advice

They will also offer you some business advice, and it will come in handy as your company grows. They can handle the business incorporation tasks and the deductions.

The chartered accountant also generates financial reports while monitoring your financial progress. This will help you in knowing whether your business is making profits or losses. If there are any issues, they can propose adjustments where needed. They’ll also handle the payroll easily, especially if your business has reached a point where you need to hire more employees.

Sense of Security

For a business owner, it is important to know that your money is in good hands. Our accountants follow specific rules and regulations, which means they can be trusted. In case anything goes wrong, we will be ready to help you make the necessary adjustments.

It is important to hire a chartered accountant that you’re comfortable with. At Linghams we take the time to establish a good relationship with each of our clients so you can be sure that your accounting needs are in good hands. With us, your business will thrive and grow, and you’ll also be steps ahead of your competitors.

We can always identify savings and opportunities, greatly improving your business prospects. Contact us online today or call us at 029 2046 1616 to speak to a member of the team.

accountants cardiff

Accountancy Skills Most in Demand Post-Pandemic

COVID 19 Impact on Accountants

The Covid19 pandemic has transformed many aspects of society and business in Cardiff, throughout the UK and globally, most especially how and where we work from. Accountants have been central in the fight to survive this pandemic and as a result, their roles have transmuted. Additionally, we have witnessed the rapid integration of technology in business during and after the pandemic. All these factors have contributed to the demand for a specific set of accountancy skills that can help the business survive the effects of the lockdown. They are no longer just number crunchers but an integral part of decision-making in various sectors of the economy. Accountancy firms and employers prefer individuals with advanced skills in addition to their knowledge in accounting. Some of the accountancy skills that are most in-demand post-pandemic include:

Digital and Technical Awareness

Even long before the pandemic, technology and digital proficiency had become a fundamental part of the accounting profession. But the pandemic saw an acceleration in the adaptation of new technologies in businesses across various sectors. Digital awareness is therefore an added advantage to one’s accounting capabilities as most companies are looking for personnel that can help them keep up with the ever-changing dynamics of technology and technology platforms.

AI and Automation

The pandemic saw several businesses across various sectors lay off their employees or cut their wages. To make up for the reduced workforce, companies are opting for automation and machine learning skills. Several small tasks within organizations have been automated to allow the available personnel to focus on complex tasks that cannot be automated such as decision making. With the help of artificial intelligence and cloud technology, accountants are exempted from manual tasks such as data entry and have time to focus on complex matters. To be competent in the post-pandemic period, accountants need to acquaint themselves with as much automation software as possible. Automation not only saves time but also improves accuracy.

Data Analytics Skills

Data analysis plays a vital role in business decision-making which ensures the business stays resilient through unforeseeable circumstances. Effective data analysis can help stakeholders understand how much the pandemic has affected their business by looking at the various patterns in distribution and consumer behaviour. It can also help set informed goals and objectives for recovery and highlight how they can be attained. As companies revise their business strategies post-pandemic, data and analytics-focused accountants are in high demand. An accountant should be able to study a business’ KPIs and swiftly generate visible acumen for the stakeholders. Critical thinking can help one come up with useful inquiries that can help expand their understanding of the variables.

Collaboration

With technology, accounting is no longer about cracking numbers behind a desk. Accountants are now required to collaborate with various departments in the organization and other stakeholders and share with them insight on how to improve the business performance. Additionally, the working from home culture distorts the convenience of sharing ideas in the workplace created by physical office spaces. Therefore, employers will prefer an individual who understands the best way to establish contact with their colleagues and are ready to share knowledge and skills for better results. Understanding the various ways that can enhance cross-functional collaboration can help an accountant advise and validate financial decisions in the organization.

How to Develop Skills in Accountancy

Now that you know which accountancy skills are on-demand, let’s look at how one can develop their accountancy skills to be more marketable among accountancy firms and other potential employers. There are several ways to learn or improve a skill, they include:

Schooling

School education is the primary path to becoming a competent accountant. There is a variety of accounting degree programs offered across academic institutions in the UK that can boost your accountancy skills. They include; Certificate in Accounting, Associate Degree in Accounting, Bachelor’s Degree in Accounting, Master’s Degree in Accounting, MBA in Accounting degree and lastly a Ph.D. in Accounting degree.

Adopting technology

Technology is another avenue through which people can horn their accountancy skills. Technical know-how is an added advantage in the eyes of employers and therefore software skills are vital in accounting. By embracing technology, one can improve their accounting skills by learning the application of various accounting software programs. It is also advisable to be on the lookout for emerging productivity and collaboration technologies in the field of accounting.

Certification

You can also sharpen your accountancy skills by getting certified, employees prefer certified accountants to those who have no certification. Getting certified is a severe assessment process meant to evaluate your accounting skills. Different certifications have different requirements and they include; Forensic Accountant, Public Accountant (CPA) which is held by chartered accountants, Auditor, Information Technology Accountants and Fraud Examiner.

Hands-on experience

You can also acquire accountancy skills from hands-on experience. This is the improvement of skills by focusing on the skill you aim to improve while on the job. It involves volunteer work, taking up temporary assignments and part-time accounting jobs to learn.

For more information on how Linghams Chartered Accountants can help your business, please contact our dedicated team!