Sage: Why Your Small Business Needs an Accountant in a Digital World


Starting and running your own business is a dream that many of us have.

It can be the ultimate test of strength and courage. This can be your chance to shine, to play your way, to create your own future.

But that doesn’t mean you have to go it alone.

Knowing when to ask for help is vital. And there is some sort of expert on the main streets of pretty much every city in the UK, and often online too. If you are start a business, they are your best friends.

We are talking about accountants.

Business superhero

It’s not just about taxes and getting it right at the end of the year.

The coronavirus has shown accountants to be business superheroes. As tight trade restrictions and conditions began to take hold, they stepped in with everything from processing emergency loan applications to paying leave grants.

In fact, Sage research reveals that just over half (53%) of small and medium-sized businesses (SMEs) have become more dependent on their accountants as a result of the pandemic.

This means that accountants are the “go-to service” when small enterprises start first.

Who else has played a central role in hundreds of different types of businesses?

Who better to advise you on the best way to run your business than someone who has seen hundreds of businesses like yours succeed and sometimes fail?

Having a good accountant by your side is like having a cheat sheet for business success.

Digital empowerment

All of this comes at a time when do-it-yourself digital accounting tools allow small business owners to have the right numbers.

Billing, billingbanking payroll execution and by remaining compliant with tax obligations, these skills are now more easily accessible than ever online and through apps.

Someone else has worked out the details so you’re free to spend more time doing what you love.

As an industry, accountants also evolve beyond these basic skills by providing the human touch that new business owners need. They want to be the partners of a nation of entrepreneurs.

And the statistics confirm it.

When considering how best to grow, 44% of small businesses said they would consult an accountant.

They’re also going digital, connecting to your systems through the cloud to monitor and plan your finances.

They can watch for problems and spot opportunities early. Add their extensive business experience and you will see why ignoring your accountant could lead to big problems down the road.

You just need to know that it’s not just about the tax anymore.

Accountants Can Help You With Making Tax Digital

The changes on the horizon mean companies are likely to rely more on accountants when it comes to getting good taxes.

In April 2024, the rules of Make digital tax (MTD) for income tax become law.

This means that any unincorporated business or owner with a total income of over £ 10,000 will need to use software.

For many businesses, this means providing at least quarterly updates to HMRC, along with a period-end statement after year-end.

HMRC’s own guidelines say companies should get the help from an accountant if they are concerned about BAT compliance – a point supported by Sage research.

Almost all (92%) accountants said they expected demand to increase with the new system going into effect, with almost three-quarters (72%) saying they were already receiving requests related to MTD.

Businesses and accountants can’t help but have a stronger relationship in the future.

Why you need an accountant in a digital world

Read our new guide, Why you need an accountant in a digital world, to learn more about how small businesses and accountants are a perfect marriage.

Learn about Sage’s expert research and how it shows a bright future for a professional relationship that can make all the difference for those new to business.

Read the guide and discover the steps to success that help combine the best use of technology with the support of an accountant to take your business plans to a new level.

Why you need an accountant in a digital world

From helping you navigate the complicated world of taxation to managing your finances and using digital tools to take care of your accounting, find out why an accountant can be a valuable partner for your business.

Download your free guide

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