26th July 2011
48% say their accountant has saved them money in the long-term while 47% say their accountant has helped them make sense of the complex UK tax system.
The research by Unbiased.co.uk also found that 12% of small business owners approach friends for business advice, while 10% state a member of their family has given them the best advice on their business. One in three (31%) believe their own advice is the most valuable with regards to running their company.
More than a quarter of small businesses using an accountant say using an accountant has meant they have more time to focus on important business decisions while one in 10 say their accountant has helped them to free up time to spend with their family. 6% got advice from their accountant about retirement planning.
According to small business owners, self assessment forms and business forecasting are the most difficult processes in the running of their business.
Karen Barrett, chief executive of unbiased.co.uk , says: "Whilst some business owners value their own judgement over anyone else's, when it comes to the running of their business, it's important to seek professional advice. Setting up and running a business can be time consuming, especially in the current economic climate and an accountant can offer not just valuable advice but also free up your time to focus on other important business matters.
"The UK tax system is constantly evolving and it is important to keep up to speed on how any potential changes could impact on you and your business – making tax a key area where professional advice is invaluable."
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