Ask an Artist: Interview with Alec White, Accountant
Season 5, Episode 3: Interview with Alec White, Accountant
In this episode, Tom and Peter interview Alec White, who is the owner and manager of AJR & Co, chartered accountants, tax and business advisors. If ever any of the financial side of things about running a small business has confused or befuddled you in any way, this episode is for you.
In the first half, Alec, Tom and Peter discuss how Alec came to accountancy from being a business owner and the situations when you might choose to, or need to, employ the services of an accountant. Alec also talks about things to consider and look for in your accountant, the importance of communication and having at least a basic understanding of your numbers so you can ultimately know the direction you want to move in.
After the break, Alec clearly explains some of the different terminology, laws and guidelines;
Self-employed; Sole trader; Partnerships; Limited company
When and how to register with HMRC
Turnover vs profit
VAT registration - when you have to do it and when you might choose to do it
Accountancy software
This week’s takeaway… we need to rid ourselves of the image of sitting at our desks once a year, rummaging around for receipts and bank statements in order to “do our accounts”: this need no longer be the case. There is a vast array of software which exists now to automate and simplify the process, ultimately saving us time and money. A good accountant can help you get this set-up and can hold your hand through some of the more daunting registration processes. A good accountant will talk to you, get to know you and your business and help you to understand the numbers, so that you can see where you have been, how you have been doing and help you plan for where you want to go next.
For more information about the services offered by AJR & Co, visit: https://www.ajrandco.co.uk
Cover photo by micheile henderson on Unsplash
This Podcast is sponsored by Rosemary & Co Brushes, Jackson’s Art Supplies and Search Press publishers.
For more information please visit Rosemary & Co Brushes: www.rosemaryandco.com
Jackson’s Art Supplies: www.jacksonsart.com
Search Press publishers: During July and August 2023, you can get 25% off a range of titles, plus free UK post and packaging, when you visit searchpress.com/arty23 and use code SPAAA.
