There are lots of different ways that a Bookkeepers Hereford way such as office-support.co.uk/bookkeeping/ can help support a business’s finances. Not only can they help to prepare your business and personal tax returns, but they can help with your business cash flow. It is often much more cost effective and efficient to get a bookkeeper to do this kind of work, rather than trying to teach yourself all the necessary elements of business finances.
Here are some interesting statistics about bookkeepers and the finance industry in the UK.
- The Office for National Statistics noted that in 202 there were around 411,000 bookkeepers in the UK. This shows just how important these professionals are and how in demand their services have become.
- It is thought that the industry will grow by around 1.6% every year between 2020 and 2025. Some of this is due to the government’s plan for Making Tax Digital. It will mean that more and more people will need to consider using the services of a bookkeeper going forwards.
- The Institute of Certified Bookkeepers noted that bookkeeping is the most commonly outsourced finance function in small businesses in the UK. The next common services that are outsourced are tax functions and payroll. This again shows how beneficial these professionals can be to businesses and their owners, as well as to sole traders and those that are self employed.