The Early Bird Catches the Worm: Why Timely Paperwork Matters
Many accountants face a common challenge: clients often submit their paperwork late or at the last minute. This creates problems for both the accountant and the client. But why does timing matter so much?
The Impact of Late Paperwork on Accountants and Clients
Accountants experience peak workloads during certain times of the year. When too many clients hand in paperwork late, accountants must rush to complete their work. This increases the risk of mistakes and leaves little time to carefully review accounts, identify tax planning opportunities, or suggest business improvements.
Meanwhile, clients feel the stress of uncertainty. They may not know if their paperwork will be processed on time, what their tax bill will be, or whether they have enough funds to pay it. Late submissions can also result in costly penalties.
How JDH Helps You Stay on Track
At JDH, we avoid these issues by providing every client with a personalised calendar and fixed deadlines to submit paperwork. This approach spreads the workload evenly throughout the year. As a result, we can dedicate the right amount of attention to each business, helping with tax planning, business growth, and tailored advice. Clients also gain peace of mind, knowing their tax returns will be completed on time and that they will understand their tax liabilities well in advance.
Case Study: When Late Paperwork Costs More Than Time
Consider a case study of one of our clients: a healthy, profitable business run by a husband and wife from home. Despite multiple reminders, they submitted their paperwork eight months late. Soon after, they went on an extended luxury holiday and returned just days before their tax payment was due. Unfortunately, they couldn’t pay their £10,000 tax bill, and the business ceased trading.
Why Cooperation With Your Accountant Matters
The takeaway? Cooperation with your accountant is crucial to your business’s success. If you’re struggling with last-minute submissions and it’s not your fault, don’t hesitate to reach out. Contact us today to schedule an appointment and discover how we can help you stay organised and stress-free.