Having an accounting and tax advisor from the start of a company is a strategic decision that can make the difference in the success and sustainability of the business. The complexity of the tax and accounting environment in Spain requires specialised knowledge to ensure regulatory compliance and optimisation of resources. The following are the main advantages of having this professional support from the beginning of the business activity.
1. Regulatory Compliance and Prevention of Sanctions
The Spanish tax system is regulated by a series of laws and decrees that establish the tax obligations of companies. An accounting and tax advisor ensures that the company complies with all current regulations, avoiding possible penalties arising from non-compliance or errors in tax declarations. For example, Royal Decree 1/2021 of 12 January updates the General Accounting Plan, introducing changes that affect the presentation of financial statements. An informed advisor ensures that the company adapts to these modifications, avoiding possible penalties.
2. Optimisation of Financial Resources
An accounting and tax advisor not only takes care of tax compliance, but also seeks to optimise the company’s financial resources. This includes tax planning to take advantage of applicable tax benefits and deductions, which can result in significant savings. In addition, proper accounting management provides a clear view of the financial situation, facilitating strategic decision-making.
3. Advice on the choice of legal form
When starting a business, it is essential to choose the legal form that best suits the needs and objectives of the business. An advisor can guide the decision between operating as a self-employed person or incorporating a company, considering aspects such as liability for debts, taxation and the projection of the company. For example, according to an article in El País, the choice between being self-employed or setting up a company depends on personal, economic and commercial factors, and professional advice is recommended in order to make the right decision.
4. Efficient Bookkeeping
Proper bookkeeping is essential to give a true and fair view of the company’s assets, financial position and results. An accountant ensures that records are kept in accordance with established standards, such as those contained in the General Accounting Plan. This not only facilitates compliance with legal obligations, but also provides valuable information for the internal management of the company.
5. Adaptation to Regulatory Changes
The tax and accounting environment is constantly evolving, with changes in laws and regulations that can affect companies. A professional advisor keeps up to date on these changes, ensuring that the company adapts in a timely manner and avoiding risks associated with ignorance or incorrect application of new regulations.
6. Saving Time and Resources
Delegating tax and accounting tasks to a professional allows entrepreneurs to focus on the development and growth of their business. The complexity of tax obligations and accounting management requires time and specific knowledge; having a specialised advisor frees the company from these administrative burdens, allowing a more efficient management of resources.
7. Personalised Advice and Tax Strategy
Each company has particular characteristics and needs. An accounting and tax advisor offers a personalised service, designing tax strategies that fit the company’s reality and contribute to its sustainable growth. This includes investment planning, management of tax deductions and optimisation of the tax burden within the legal framework.
8. Improved Decision Making
Accurate and up-to-date financial information is key to business decision-making. An accountant provides reports and analyses that allow you to evaluate the profitability of projects, control costs and plan the future of your company on a sound basis.
9. Facilitates Access to Finance
Orderly and transparent accounting is essential when seeking external financing. Investors and financial institutions require reliable financial statements to assess the viability of granting loans or investing in the company. An accountant ensures that the information presented meets the required standards, increasing the chances of obtaining financing.
10. Support in Audit Processes
In the event that the company is subject to an audit, having an accounting advisor facilitates the process, as adequate records are available and compliance with regulations is ensured. This reduces the risk of penalties and improves the relationship with the tax authorities.
Rely on Gutiérrez Pujadas & Partners to manage your business
At Gutiérrez Pujadas & Partners, we provide you with an expert team of tax and accounting advisors to help you manage your business efficiently and safely from the very beginning.
If you are looking for peace of mind and optimisation in the management of your resources, contact us today. We will be happy to analyse your needs and offer you solutions adapted to your company.