Should I change accountant?
Many businesses use the same accountant for years, and why not? Because they keep you compliant and have never made a mistake, why would you want to switch?
Have you ever heard the phrase, "You don't know what you don't know"?
This is the main problem if you've used the same accountant for years who have become comfortable... They're no longer proactive. Despite the fact that they're not bad accountants, they aren't providing you with what you need.
Your business and the world of finance change so quickly. As a result of Covid, these changes have been accelerated further. Bounceback loans, R&D Claims, Capital Allowances, Reduced turnover, Furlough, Restructures, etc. With these changes comes opportunity.
Here are 3 things I'd ask yourself to see if it's perhaps time to look at changing accountants:
When was the last time my accountant contacted me?
Do you only hear from your accountant once or twice a year? How do they know what's changed within your business or what your current needs are? Contacting you more than once or twice is a sign of a good proactive accountant.
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Do I feel I can speak to my accountant?
Can you get advice from your accountant without feeling as though you will be charged by the minute? Jerroms' clients often turn to their accountant for advice on things such as buying a company car or considering the tax implications of certain purchases. Not all advice has to be charged. Do your accountants treat you like a person, or do they just treat you like a number?
Are they doing the job?
It seems obvious, but many people forget to check. Do your accountants actually do a good job? You may be paying too much in taxes or missing out on R&D claims. As I always say, you don't know what you don't know. You should always have another set of eyes look at your accounts with a health check to see what you might be missing. No need to change your accountant if there are no issues!
You also want to make sure that your accountants aren't outsourcing a lot of your work, otherwise, you're just paying them to be a middleman!
If you want a free financial health check, have any questions, or just want some general advice around your accountants, then just drop me a message or email.
Call me on 07399 809 267
You can even fax me on... I'm joking. It's 2021. No one uses a fax machine anymore. Might as well ask me for my pager too!