When you’re just starting out, it can be tempting to manage your finances yourself. But as your business grows, so does the complexity of your accounts, tax obligations, and compliance requirements. At some point, doing it all yourself can cost more time, money, and stress than it saves. 

Here are five signs that it’s time to consider working with a professional accountant. 

1. You’re Spending Too Much Time on Finances 

As a business owner, your time is valuable. If you’re spending hours every week reconciling bank statements, entering receipts, or stressing over spreadsheets, that’s time taken away from sales, service, or growing your team. 

An accountant can take bookkeeping, payroll, and tax filing off your plate, so you can focus on what you do best—running your business. 

2. Your Business Is Growing Fast 

Rapid growth is a great problem to have, but it comes with financial complexity: 

• Hiring staff means running payroll and paying PAYE and National Insurance 
• More revenue often leads to VAT registration 
• Expanding services or premises requires cash flow forecasting and budgeting 

An accountant can help you manage growth smoothly by keeping your accounts in order, advising on financial planning, and making sure you stay compliant with HMRC regulations. 

3. You’re Unsure About Your Tax Obligations 

If you’re not confident about what you need to report, when to file, or what you can claim as expenses, you could: 

• Overpay tax 
• Miss out on reliefs and allowances 
• File incorrect returns 
• Face penalties from HMRC 

A good accountant ensures your returns are correct and complete and that you’re taking advantage of all available tax-saving opportunities. 

4. You’re Planning to Raise Funding or Apply for a Loan 

Whether you’re seeking a business loan, investment, or grant funding, you’ll need: 

• Clear and accurate financial statements 
• Forecasts and cash flow reports 
• A professionally presented business plan 

An accountant can prepare the necessary documentation and guide you through the process, increasing your chances of success. 

5. You’re Worried About Making Mistakes 

Many small business owners worry they’ve missed a deadline, misreported income, or calculated tax incorrectly. These concerns aren’t unfounded—HMRC issues thousands of penalties each year for filing errors. 

An accountant provides peace of mind. They’ll make sure your filings are timely and accurate, represent you in case of HMRC inquiries, and offer guidance when financial decisions get tricky. 

Bonus: You Want to Grow Smarter 

An accountant does more than file your taxes. They can help you: 

• Set business goals and track financial KPIs 
• Identify profit leaks and cost-saving opportunities 
• Advise on company structure and tax efficiency 
• Forecast cash flow and plan for seasonal changes 

They become a trusted advisor as you scale. 

Why Choose East London Accountants? 

With over 20 years of experience, our team offers: 

• Affordable fixed-fee packages 
• Support for self-employed, small businesses, and contractors 
• Expert advice in plain English 
• Use of cloud accounting tools like Xero, QuickBooks, and Sage 
• Free initial consultations with no obligation 

We’re based in London and serve clients across all boroughs, offering reliable support whether you’re a one-person startup or an established firm. 

Book a Free Consultation Today 

If you’re experiencing any of these signs, it’s time to talk to a professional. Contact East London Accountants today for a free consultation, and let’s take the stress out of your finances.