When registering a company, a lot of technical knowledge is required to ensure you meet all the Irish requirements and those in the UK. You will need the services of a accountant to handle all the legal technicalities and explain to you the importance of complying with certain clauses and their implications in the future of the business. Besides, you will require an accountant who will lay down all the accounting structures to handle share capital procedures and other financial matters. Here is are the key reasons why you register your company instead of your accountant.
You should not leave the process of company registration solely in the hands of your accountant or any other person. It is important to consult lawyers and accountants among other professionals to ensure your company documents especially the Constitution meets all the professional requirements. Accountants play a crucial role in drafting the company financial structures and creating the accounting systems the company will adopt. However, it is important to be hands on during every process. Ensure you know the entire process of setting up the financial structures whether you have some accounting knowledge or not. You should register your company by yourself to give it a personalized input, check for errors, and eliminate the chances of having loop holes through which an accountant can fraudulently siphon money from the company.
Registering your business helps you reduce the entire cost of registration. When you take the task of registering the business by yourself, you cut down on the time of registering the business as you give it the seriousness and urgency it requires. For instance, you will be able to report early and leave the registration offices late to ensure each day counts. However, your accountant may prolong the process deliberately by reporting late and leaving early to ensure he gets maximum benefits from the process.
Handling Sensitive Information
It is important for you to deal with matters concerning tax, statutory deductions, and bank details. Technology has made it possible to easy to carry out business transactions and the period of company registration is now short compared to yester years. However, technology can also be used to bring down a business very easily without the knowledge of the owner when you leave running of the business to your employees. As such, it is important you consult on matters concerning registration with your accountant but ensure you undertake the actual registration.
Remaining the Boss
It is important to delegate some of your responsibilities to your accountant as it raises their determination to perform better following the special recognition. Giving your accountant an opportunity to carry out duties as tax filing and other legal compliant practices give them a sense of honor and trust. However, it is important to take over the process registering the company yourself. It provides you with a sense of ownership and reminds everyone you are still the boss. It is important to send a message of ownership to both your attorney and your accountant that of your sense ownership. Besides, you can oversee the entire process and ensure your ideas and plans for the business are incorporated in important company documents such as the constitution and capital sharing clauses.
Remember to consult widely on all matters concerning company registration even in areas of your expertise. That motivates your accountant to deliver the best they can for your company. Finally, ensure you maintain high standards of professionalism in running the registration process to ensure it takes the shortest time possible.