You have a choice between hiring a full-time accountant and choosing an accounting firm to do the job. Either way, it is okay as long as there is a guarantee that you will receive quality service. If you have a huge business and you deal with tons of transactions each month, you might need an entire accounting department for the job. They will all be busy throughout the month, so it makes sense if you pay them for a full-time job.
For small businesses, it does not make sense if you have an entire accounting team if you have less than ten employees and your business is still taking off. You are going to spend on services that you might not need.
Since you still want someone to deal with your taxes, the best option is to hire a firm. When you outsource the task, you will receive a guarantee of quality service. You need a firm that has been in this business for some time, and they know how to deal with small businesses like yours.
A practical choice
The primary difference is that you will pay the firm based on the agreed project within a specified time. Once the project is over, you have the choice to either renew your partnership with them or choose a different firm the next time. You will pay the firm based on the size of the task you asked them to accomplish.
You can evaluate the results
After the completion of the first task, you can assess if the firm gave a satisfactory performance. If you did not receive any complaint from the tax agency regarding the documents you submitted, it shows that the firm did a fantastic job. Their accountants were meticulous especially in dealing with the smallest details. In this case, you can renew your partnership for the next project. If you felt like the firm failed to do its share and you received complaints from the tax agency, you can move on to a different firm the next time. Your deal ends when the project is over, and you are free to choose a different firm.
The problem when you have full-time staff is that it is a challenge to fire the person. You need a strong reason to remove that person from the position, and you could even end with legal problems. You also need to train this person to understand the vision and culture of the company. It takes time before you can feel confident about the accountant you hired.
Make the right choice
You need an accountant to do the taxes and give financial advice. Whether you choose a full-time staff member or outsource the service from a firm, do not forget to focus on quality. You need someone who will not fail you. You can check out the best accountants in Central London now if your business is in the area or neighbouring areas.