Do I need an accountant for my LLP?

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Is it a legal requirement to hire an accountant to maintain the books of an LLP? Ideally, I’d like to do it myself, but I didn’t know for sure whether there were any rules about that. Thanks in advance

Answers

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You’re not legally obligated to use an accountant for your LLP, but you and your colleagues may find it beneficial. Bookkeeping and accounting can be incredibly tedious and time-consuming when you’re also trying to run a business, and LLP accounts are quite tricky to get to grips with.

An accountant could save you a lot of precious time and they will be able to suggest a number of ways to save money and operate as tax-efficiently as possible. However, if you’re happy to do it yourself, go for it.

a year ago
 

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