What is Remote Accounting?
Remote Accounting is continuing to become well-liked among UK based enterprises as it provides numerous benefits to the busy owner / director /partner. The major benefit of Remote Accounting is naturally cost. Each meeting that you have with your accountant goes onto the time sheet and is charged at the end of the year, t5hat discuss over a cup of coffee could finish up costing you a bundle. Even the Accounting Firms that provide fixed costs always build in a cost for the private conferences and the calls and letters that invariable arise in the year.
However there are several firms out there that don’t need this level of service, they’re run efficiently by their owners and don’t have tax complexities or great year to year permutations, indeed all of these firms need is their accounts prepared at the end of the year, their tax worked out properly and the comfort that their affairs have been dealt with in a professional way. *This is where Remote Accounting is at its most helpful.Remote Accounting provides all of the benefits the business needs but without any of the pricey extras that it doesn’t need.
A characteristic Remote Accounting contract would be less than half the cost of the same work being performed thru a high st accountant. The entrepreneur would mail ( or e-mail ) his bills and spending records each 1 or three months, perhaps annual if VAT isn’t involved. The Remote Accountant would then prepare the year end accounts, calculate the tax culpability and write to the business owner advising them of the quantity of tax due and when it should be paid, all tax returns would be made online by the Remote Accountant and the entrepreneur left to focus on what they do well, run their business.