Does Limited Company have to have an accountant to do company accounts?
I would like to know whether Limited company has to have an accountant/professional to do company accounts by law?
Other - Business & Finance - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
No, not by UK law, but it would be wise to do so.
Answer 2 :
No, you can use a book-keeper or company secretary to do the day-to-day paperwork, but I highly recommend that you use an Accountant to do the final year-end figures. As I have said many times on Yahoo, a good Accountant will save you more than his fee. He will know of all the allowances that you can claim against tax, he will know of any recent changes in tax/law and how to implement those changes, and he will be able to see which areas of your business need to be amended in order to work at it's full potential.
Answer 3 :
I agree with Cala. I am the company secretary of my husband's business and do the day-to-day bookwork. However, at the end of the financial year, we always get our accountant to finalise everything and keep us on the straight and narrow. He is well worth his fee.
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