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When you hire an accountant, you are hiring someone to be responsible for advising and supporting your company and/or personal finances.
Nowadays, having the support of a financial advisor is essential.
What is accounting?
Accounting is the process of recording, classifying and analysing the financial transactions of a company or individual.
It is essential to understand the economic and financial situation of an entity, as well as to comply with tax and regulatory obligations.
Hiring an accountant in Spain provides multiple benefits.
These professionals not only ensure that your accounting records are accurate and up-to-date but also offer expert guidance in interpreting financial statements.
This facilitates informed strategic decision-making, improves financial planning and helps avoid possible tax or administrative problems.
The importance of an advisor in legal and tax compliance
When you hire an accountant, they play a crucial role in ensuring that the financial and accounting activities of a company or individual are carried out within the established legal framework.
This professional not only keeps accurate records of all economic transactions but also ensures compliance with current tax and financial regulations.
Thanks to their skill and up-to-date knowledge of laws and regulations, they advise you on best practices to avoid legal and tax problems.
This includes understanding the different types of taxes in Spain, while also reporting correct taxes, compliance with accounting obligations per local and international regulations and the prevention of possible penalties for errors or non-compliance.
Impact of not having an accounting advisor within companies
Companies that lack an accounting advisor face various difficulties that can seriously affect their stability and growth.
Without the guidance of a finance and compliance expert, these organisations run the risk of making costly mistakes in managing their financial resources.
For example, they could face liquidity problems due to poor financial planning or face severe penalties for tax filing errors.
Additionally, failing to hire an accountant can lead to a lack of compliance with local and international regulations, which could result in legal litigation or stain your reputation.
The strategic benefits of hiring a Spanish speaking accountant
When you hire an accountant, you get various advantages for both your company and personally.
An accounting professional not only ensures accurate and efficient financial management but also provides strategic guidance to increase compliance with tax and financial obligations.
Among the advantages of having an accounting advisor are:
- Accurate and up-to-date records: The accounting advisor is responsible for maintaining detailed records of all financial transactions, providing a clear view of the company’s financial situation at all times.
- Regulatory compliance: ensures that the company complies with all current tax and financial regulations, avoiding sanctions and legal problems that could arise due to errors in tax returns or financial reports.
- Tax and financial advice: Provides recommendations to optimise tax planning, take advantage of incentives and structure financial strategies that reduce costs and maximise benefits.
- Detailed financial analysis: Performs a comprehensive analysis of the company’s financial performance, evaluating both the past and present to project future scenarios and support strategic decision-making.
- Delegation of complex tasks – Frees up internal resources by taking care of technical and specialised accounting tasks, allowing staff to focus on core business activities and improving operational efficiency.
How to hire an accountant in Spain?
- Taxation of non-residents.
- Characteristics of investments in different countries.
- Study and application of double taxation agreements.
- Study and establishment of tax residence and development of activity in comparison with the different global regulations.
- Approach and study of optimal financial structures for succession or business succession.
- Optimisation of deductible expenses of activities.
- Preparation of a detailed plan adapted to the client’s needs.
- Study of the possible application of more favourable tax regimes and incentives depending on the type of activity or personal circumstances.
- Defence of the taxpayer before the administration in case of questions about planning.
Hiring an accountant is essential in today’s business environment for several key reasons.
In addition to ensuring the accuracy and currentness of financial records, this professional provides expert guidance in interpreting financial statements, facilitating informed strategic decisions and optimising financial planning.
Their in-depth knowledge of tax and financial regulations ensures legal compliance, prevents administrative problems and reduces the risk of sanctions.
Delaguía&Luzón offers specialised services in tax law and accounting.
We help companies and individuals enhance their tax bills, strictly complying with the law and taking advantage of the benefits it offers.
To hire a financial advisor in Valencia, do not hesitate to contact us.
