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Why Your Accountant Should be Involved in Your Business Strategy

Many business owners only speak with their accountant once a year, and it is often right before tax time. If that is the only time you are checking in, you may be missing out on important support and business insights.

At BCS Accountants, this month’s blog looks at why your accountant should be involved in your business strategy. For more information, contact us on 01524 824111.

They Can Help Reduce Your Tax Bill

One of the main reasons to become self-employed is to optimise your tax position. However, many small business owners still end up paying more tax than they need. This is an area where an accountant can help.

An accountant can:

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An Important Message for Limited Company Owners

From 18th November 2025, Companies House is introducing mandatory identity verification for ALL directors, LLP members, Company Secretaries and PSCs.

This is an attempt from Companies House to clamp down on fraud to improve the reliability of the data in their systems. This is a new legal requirement to be able to prove that you are who you say you are and will deter people attempting to use companies for illegal purposes.

Companies House have already been encouraging people to voluntarily register their identity with them and has been seen as a quick, easy and free of charge service. You may have already had emails from them regarding this.

Not all companies want to do this themselves though, and are instead looking to use an Authorised Corporate Service Provider (ACSP), such as their accountant. There are strict guidelines on how you can become an ACSP, such as the firm being supervised by a UK Anti-Money Laundering (AML) supervisory body.The good news is that we expect to be registered as an ACSP shortly, at which point we’ll be able to assist.

What does this mean for you?

This means that you have several options for verifying your identity with Companies House.

Option 1: You can do this directly with Companies House yourself and will not incur a cost. There are clear guidelines and information on what you need to do / what you will need on Companies House here.

Option 2: As we will shortly be registered as an ACSP we can send you an invitation to complete an online identity check using a government-certified identity service provider (IDSP). This will enable us to ensure you have completed the sufficient checks for Companies House. There is a small fee of £40 plus VAT for this to be completed. The electronic identity check requires you uploading your ID documents and conducting a live “selfie”.

Option 3: We can complete the check in person with you if you visit one of our practices. The fee for this is £75 plus VAT.

Important: whichever method you choose, you must ensure that you provide us the code you are given. If we don’t have your code we will not be able to file documents at Companies House for you (such as annual accounts, annual confirmation statements etc).? If we are unable to file documents on your behalf, then the company will be liable to late filing penalties. 

What do I need to do? 

You need to choose one of the above-mentioned options to verify your identity. We suggest doing this as soon as you can. There is a grace period for existing companies and directors, however as detailed above – failure to be identified could result in delays and/or late filing penalties.

If you have any questions, please email your accountant or call us on 01524 824111.

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What Does an Accountant Do for a Small Business?

Managing your finances can often be complex for most small business owners. Balancing bookkeeping and ensuring tax compliance requires both time and an area of expertise that many don’t have.

At BCS Accountants, this month’s blog tells you everything you need to know as a business owner about accounting. For more information, contact us on 01524 824111.

An accountant can provide a wide range of accounting services for small businesses, corporations and individuals. Accountants keep track of all financial transactions via bookkeeping, ensuring your financial records are accurate and up-to-date.

Additionally, an accountant will handle all year-end reports, alongside reports needed for taxes. They can also prepare an overview of your business’s finances, so you can make accurate business decisions.

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Cash Flow Management Tips for Growing Businesses

When a business is growing, managing cash flow becomes one of the most critical challenges. Increased sales often bring higher costs, and without careful planning, a healthy turnover can soon become a cash flow crisis.

At BCS Accountants, this month’s blog offers cash flow management tips for growing businesses. For more information, contact us on 01524 824111.

A cash flow forecast is a powerful tool. It helps you measure the amount of cash that comes in and out of your business. By mapping out expected income and expenses over the coming periods, you can spot issues before they happen.

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Financial Health Checks: What They Are & Why You Need One

When was the last time you had a good look at your business’s finances? Whether you are a small business owner or sole trader, a financial health check is very important. It is a powerful tool that helps you gain control, improve your business’s performance and make confident decisions.

At BCS Accountants, this month’s blog looks at the importance of financial health checks. For more information, contact us on 01524 824111.

What is a Financial Health Check?

A financial health check is a comprehensive review of your current financial situation. It is designed to help you understand where your money is going and identify any weaknesses. It can include:

With a financial health check can help you spot issues early. A review can highlight areas where you are overspending or overcharging, improving profitability. With constantly changing HMRC regulations, a financial health check ensures you are compliant and prepared for audits.

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What Records Should a Sole Trader Keep?

Running your own business as a sole trader gives you flexibility and control, but it also comes with responsibility. One of the most important obligations is keeping proper records for HM Revenue & Customs (HMRC).

At BCS Accountants, this month’s blog looks at what records a sole trader should keep for HMRC. For more information, contact us on 01524 824111.

Why Do Sole Traders Need to Keep Records?

If you’re self-employed as a sole trader, you are required to keep detailed records for HMRC. It helps you to accurately calculate profits and support your Self-Assessment return.

Even if you are only running a small side hustle, you still need to keep records. HMRC does not have a minimum income threshold before record-keeping is required.