How to Choose an Accountant

Choosing an accountant can be a bit of a minefield, but this decision can have a huge impact on your business ( positively or negatively).

So what should you be looking for from your accountant? A good accountant should be a great support to your business and help you to make more money and minimise your tax. You should feel that they are an essential and integral part of your business and they should be approachable.

Here are our top 5 things to look for:

How Much?

If you ask 5 accountants for a quote for your accounts you will get 5 different prices. Don't look at the price as too important , instead look at value. You would expect to pay more for a cappucino at starbucks than you would for an instant coffee at home. They are both coffees but are actually very different from each other. Make sure you feel you are getting good value not the cheapest price.

Find out how you will be charged and what is included in the fees. You don't want to be charged everytime you speak to your accountant. Fixed monthly fees give you peace of mind.

Find your accountant before you need them

Many business owners wait to choose their accountant when they have to submit something to HMRC or Companies House. These means that you could make a quick and therefore incorrect decision. A good accountant shouldn't just be ticking the statutory boxes but should be working alongside you helping you to make good business decsions every day.

How have they helped business like yours?

A good accountant will be able to tell you stories about how they have helped other businesses like yours and will be honest if they think they can't help you. You should feel that they are genuinly interested in you and your business and you being successful.

Are they up-to-date with all the changes coming up?

The world of accountancy is changing. One of the biggest changes is Making Tax Digital. This will mean that all businesses will have to keep their records digitally, the best accountants will have started to prepare the clients for this. The world of tax has many changes every year you want to make sure that whoever is looking after your accounts has an excellent undertstanding of these changes so that they can advise you properly.

How do you feel?

Do you feel comfortable ? Do you feel that you can ask questions and that your accountant is speaking in a language that you undertstand and not using lots of jargon.

Good luck choosing the right accountant for your business.