Why a Once a Year Accountant Could Be Costing Your Business Thousands
Many business owners only speak to their accountant once a year. Usually at year end. Usually under pressure. And usually when a tax bill appears that they were not expecting.
This approach might feel normal, but it can quietly cost your business thousands over time.
Accounting should not be a once a year task. It should be ongoing support that helps you make better decisions, protect cash flow, and plan ahead with confidence.
What Happens When You Only Speak at Year End
When contact with your accountant is limited to year end, most decisions are made without full financial visibility.
This often leads to:
Missed tax saving opportunities
Decisions made without accurate numbers
Paying more tax than necessary
Cash flow surprises
Reacting to problems instead of planning ahead
By the time your accounts are prepared, the year has already passed. At that point, many options are no longer available.
Tax Planning Works Best Before the Year Ends
The biggest tax savings happen before your year end, not after.
Regular check ins allow you to:
Forecast profits
Adjust salary and dividend strategy
Time purchases correctly
Make pension contributions
Review VAT position
Plan cash flow
Without these conversations, opportunities are often missed simply because nobody flagged them in time.
Running a Business Without Real Numbers Is Risky
If you are only reviewing your figures once a year, you are running your business largely on instinct.
Up to date numbers help you understand:
Whether you are actually profitable
Which services or products perform best
When cash flow pressure might hit
Whether pricing still makes sense
When it is safe to hire or invest
Without this insight, decisions are reactive rather than strategic.
Proactive Accounting Supports Growth
As your business grows, the margin for error shrinks.
Ongoing accounting support helps you:
Spot issues early
Protect cash flow
Manage risk
Stay compliant
Build systems that support sustainable growth
This level of support goes far beyond filing a tax return. It gives you clarity and confidence throughout the year.
Accounting Should Feel Like Support, Not Surprises
A good accountant does not just appear when something goes wrong.
They help you plan ahead, understand your numbers, and avoid problems before they become expensive.
If your accountant only shows up once a year, you are effectively running your business blind for the other 364 days.
The Bottom Line
Once a year accounting might tick the compliance box, but it rarely supports growth.
Proactive accounting gives you better decisions, lower tax, fewer surprises, and far more control over your business.
If you want ongoing support instead of last minute stress, book a free discovery call. We can review where things could be working better and help you put the right support in place.
Meet Lewis
Lewis is a professional accountant and founder of Rhombus Accounting. He regularly shares his knowledge and best advice here on his blog and on other channels such as LinkedIn.
Book a call today to learn more about what Lewis and Rhombus Accounting can do for you.
