Do I Need a Chartered Accountant for My Business?
Whether you’re just starting or managing a growing operation, you may wonder if you need a chartered accountant for your business. Can’t you just manage things yourself with some accounting software and the odd spreadsheet? Or use a bookkeeper for the basics and keep costs down?
It’s a fair question. Every business owner wants to be efficient with their time and money. But understanding when, why, and how a chartered accountant for business can add value could be one of the best moves you make for your company.
Below, we explore what chartered accountants do, how they differ from other financial professionals, and how your business could benefit from one.
What is a Chartered Accountant?
In the UK, a chartered accountant (CA) is a qualified professional who has completed a rigorous training programme, passed a series of exams, and gained practical experience under the supervision of other qualified professionals. They’re members of a recognised accounting body, such as ICAEW (Institute of Chartered Accountants in England and Wales), ICAS (Institute of Chartered Accountants of Scotland), or CAI (Chartered Accountants Ireland).
Chartered accountants are held to high ethical and professional standards, which gives you peace of mind that the person advising on your finances is appropriately qualified and regulated.
Chartered Accountant vs. Accountant: What’s the Difference?
It’s important to understand that not all accountants are chartered. The term “accountant” isn’t protected by law in the UK—so technically, anyone can call themselves an accountant, regardless of their training or qualifications.
This reality doesn’t mean every non-chartered accountant is unqualified or inexperienced—but it does mean that hiring a chartered accountant provides a much greater level of reassurance, especially when the financial health of your business is at stake.
A chartered accountant brings more than just bookkeeping skills, including a broad knowledge of tax planning, financial strategy, compliance, forecasting, and business structuring. In short, they’re a strategic asset, not just someone checking the year-end numbers.
So, Do You Need a Chartered Accountant?
The honest answer? It depends.
Not every business needs a chartered accountant from day one, but most companies can benefit from one sooner than they think. Below are some scenarios where hiring a chartered accountant for your business makes clear sense:
If you’re launching a new business, there’s a lot to think about—company structure, registrations, tax responsibilities, financial forecasting, and regulatory compliance, to name but a few. A chartered accountant can help you set up correctly from the beginning, avoiding costly mistakes down the line.
They can help you decide whether to operate as a sole trader, partnership, or limited company. They’ll ensure registration with HMRC, advise on VAT thresholds, and help set up accounting systems that work for you.
Getting things right at the start sets you up for long-term success. And that’s where a chartered accountant adds real value.
Business growth is a great problem to have—but it does bring complexity. Suddenly, you’re hiring staff, dealing with extra payroll, investing in more equipment, expanding premises, or chasing larger contracts.
These are the moments where strategic financial advice becomes essential. A chartered accountant for business can help you:
- Understand your changing cash flow needs.
- Budget for expansion.
- Access funding or investment.
- Plan for corporation tax or VAT changes.
- Avoid the financial risks that come with growing too fast.
They’ll also help you ensure your reporting and controls scale with the business, so you don’t end up flying blind as things get busier.
No one wants to pay more tax than necessary. A chartered accountant can help you tax-efficiently structure your finances, ensuring you’re claiming all relevant allowances and reliefs.
Whether it’s R&D tax credits, capital allowances, pension contributions, or salary/dividend splits, the right advice can save thousands over the lifetime of your business.
They can also help you navigate any changes in financial legislation—something that’s been happening frequently over recent years.
If you’re applying for a business loan or courting investors, your financials will come under scrutiny. A chartered accountant for business can help prepare professional accounts, financial forecasts, and cash flow statements that give funders confidence.
They can also advise on the various kinds of funding available to your business. Understanding the difference between equity, debt, and grants, for example, will allow you to structure things in a way that’s sustainable and makes sense for your business.
If you’re building a business with a future sale, succession plan, or management buyout in mind, a chartered accountant can help you prepare for that journey.
They’ll ensure your accounts are in good order, your tax planning is sound, and you have a clean financial record—something potential buyers or acquirers will look closely at.
What If You Already Use a Bookkeeper?
Bookkeepers play an important role in many businesses. They can manage day-to-day transactions, reconcile bank statements, and help with VAT returns or payroll. But they’re not a replacement for the strategic advice and financial oversight of a chartered accountant for business.
Many successful businesses use both—leveraging a bookkeeper for regular admin and a chartered accountant for advice, compliance, and year-end services.
The good news? At Jan McDermott Accountants, we work seamlessly with businesses of all shapes and sizes. Whether you already have a bookkeeper or are managing everything yourself, we can step in where you need us most.
Isn’t It Expensive to Use a Chartered Accountant?
It’s easy to think of an accountant as a cost—but a better way to look at it is as an investment. A good chartered accountant doesn’t just file your business accounts; they can also help you:
- Reduce your tax liability.
- Make smarter business decisions.
- Improve cash flow.
- Avoid fines and penalties.
- Build a more valuable business.
In many cases, tax savings alone can cover the cost of accountancy services. And in every case, the aim is to deliver clear, practical advice that makes running your business easier.
Why Choose Jan McDermott Accountants?
We’re a firm of chartered accountants for businesses based on the Wirral, working with ambitious business owners across Merseyside and beyond. We specialise in supporting small and medium-sized companies with practical advice, hands-on support, and a friendly, personal approach.
Our team can help with everything from year-end accounts and tax planning to business growth strategies and succession planning.
And because we’re chartered, you can be confident you’re in safe hands.
Final Thoughts
So, do you need a chartered accountant for your business?
If your business is growing, evolving, or facing complexity, the answer is likely yes. Even if things are straightforward right now, getting the right advice early on can help you avoid costly mistakes—and set a strong foundation for the future.
At Jan McDermott Accountants, we don’t believe that one size fits all. We take the time to understand your goals and tailor our advice to what your business really needs—nothing more, nothing less.
Why not get in touch for an initial chat? It costs nothing to talk and could save you a lot in the long run.