There is no wrong or right time to introduce an accountant to your business. However, if you feel you are losing track of your finances both incoming and outgoing, then hiring an accountant may help.
An accountant not only helps with managing a record of your incomings and outgoings, they deal with your annual taxes. They also know what you can and can’t claim tax back for, getting you the best possible outcome for your business.
Filling out your own annual tax summery is possible, and can work for new starter or those self-employed. There is a risk of getting it wrong when doing it yourself, so it may be a money saver in the long term, to hire an accountant early to keep on top of your businesses finances. It is always important that you keep a strict record of incomings and outgoing, filing invoices and receipts each month will certainly help you stay on top of things, plus your accountant will be glad you are organised too.