The Hidden Costs of DIY Accounting: When to Hire a Professional

Many small business owners try to handle their own accounting to save money. With modern software and online tools, it seems easy enough to do your own bookkeeping, file tax returns, and manage payroll. But while it may save money in the short term, it can often cost more in the long run.

Payroll processing is the act of calculating employee wages, deducting tax and National Insurance, and submitting this information to HMRC under the PAYE (Pay As You Earn) system. It also involves issuing payslips, paying your staff, and making timely reports.

Time spent on accounting is time not spent growing your business. Tracking expenses, chasing receipts, and reconciling accounts can take hours each week.

A professional accountant knows which deductions and reliefs apply to your business. DIYers often miss out on legitimate claims, resulting in a higher tax bill.

Inaccurate returns, missed deadlines, or misclassified expenses can result in fines, interest, or even HMRC investigations. Mistakes with VAT or payroll can also damage employee trust.

Without proper reporting and forecasting, it’s easy to run into cash flow issues. Many DIY setups lack the structure to track inflows and outflows effectively.

Even the best cloud accounting tools have a learning curve. If used incorrectly, they won’t protect you from non-compliance or inefficiencies.

Balancing the demands of running a business with trying to be your own accountant can lead to overwhelm and decision fatigue.

You should consider working with an accountant if:

• Your income or business activity is growing rapidly
• You’re hiring staff or managing payroll
• You’re unsure about VAT, self-assessment, or Making Tax Digital
• You’re spending more than 1–2 hours a week on finance tasks
• You want to save tax and gain financial clarity

• Peace of mind knowing things are done right
• Better tax efficiency
• Time saved on admin
• Strategic insights to grow your business
• Reliable financial records for lenders or investors

We’ve worked with businesses across Doncaster, the UK, and internationally to take the pressure off their shoulders. Whether you need help with tax, payroll, bookkeeping or planning, we give you more than just compliance, we provide clarity and confidence.

Not sure if now is the right time to hand things over? Contact A Wigglesworth & Company for an honest, no-obligation chat. We’ll help you weigh the costs, benefits, and next steps.