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Guide

Do I need an accountant?

Not always. If your affairs are simple, you can often manage them yourself. An accountant earns their fee when things get more complicated, when time is short, or when a decision has tax consequences you would rather get right first time.

Written and reviewed by Sarah Penny, ACMA CGMA · Published 18/10/2026 · Last reviewed 18/10/2026

Key takeaways

  • Most individuals and small businesses are not legally required to use an accountant. You can register, keep records and file returns yourself. Larger companies, and some others, must have their accounts audited.
  • If you are a sole trader and earned more than £1,000 in a tax year, before expenses, you need to send a Self Assessment tax return.
  • A limited company must file accounts with Companies House and a Company Tax Return with HMRC every year, which is where most people choose to get help.
  • If you want to do it yourself, good set-up and a little training at the start make the rest of the year far easier.

Not always. Most individuals and small businesses are not legally required to use an accountant, and plenty of people with simple affairs manage perfectly well on their own.

The main exception is an audit. Companies above the small company limits, public companies and some others, such as banks and insurers, must have their accounts audited by a registered auditor. The question is whether your time, and the risk of getting something wrong, are worth more than the fee.

When you can probably do it yourself

  • You have a small side income. The trading allowance covers up to £1,000 a year of trading income. If your gross trading income is within it, you generally do not need to tell HMRC, although you should still keep records and there are exceptions.
  • You are a sole trader with straightforward income and expenses. If you earned more than £1,000 in the tax year, before taking off expenses, you need to send a Self Assessment tax return. Many people with simple businesses do this themselves using HMRC’s online service or accounting software.
  • You are comfortable with the paperwork. If keeping records and meeting deadlines does not worry you, doing it yourself can work well.

When an accountant is usually worth it

  • You run a limited company. Every year the company must prepare statutory accounts for Companies House and a Company Tax Return for HMRC, and you need to decide how to pay yourself. Most directors choose professional help.
  • Your affairs have more moving parts. Property income, capital gains, several sources of income, employees or VAT all add work and room for error.
  • You are making a bigger decision. Taking on staff, buying property, changing your business structure or raising finance all have tax consequences that are easier to plan than to fix.
  • Time matters more than the fee. If the hours you spend on your books would be better spent on your business, handing it over can pay for itself.

A middle way: set up properly, then do it yourself

If you would rather keep your own books, the most valuable help often comes at the start. Choosing the right software, setting it up correctly and learning how to record things properly means the rest of the year runs smoothly, and your records are in good shape if you ever do want an accountant.

How we can help

We offer set-up and training for people who want to do it themselves, and full support for sole traders, limited companies and personal tax. If you are not sure which you need, book a free call and we will tell you honestly.

Sources

This guide is general information, not personal advice. Rules change, so check the last-reviewed date. If you would like to talk through how it applies to you, we are happy to help.

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