Top 10 Accountant Consumer Tips

• Get an accountant before you start your business
Before you decide to operate as a self employed sole trader or a limited company it’s a good idea to seek the advice of a professional and qualified accountant who can advise you on the best way forward for your business.
• Choose an accountant to match your needs
If you’re running a small business, it’s best to choose an accountancy firm who work specifically with small businesses. If you employ a larger firm with bigger clients to work on your behalf, they may not give you the same level of attention.
• Don’t just choose the closest accountancy firm
Even if you have a local accountant right on your doorstep, it doesn’t necessarily follow that they will be the best person to look after your company finances. It’s best to have a face to face chat with a few local firms and weigh up all your options.
• Search online for reviews and comments
There are many websites such as FreeIndex where people leave reviews of local businesses so it’s worthwhile doing an online search to see if there’s any positive or negative feedback about the company you’re thinking of choosing.
• Look at the big picture
Many accountancy firms provide a range of other services, so it’s advisable to look at the overall value an accountant can offer when making your decision. For example they may be able to help you with invoicing or chasing up bad debts.
• Check qualifications
It’s essential that you check your accountant is professionally qualified and a member of a trade association such as the Institute of Chartered Accountants before you instruct them to act on your behalf.
• Be clear about costs from the outset
It’s important that you get a clear outline of all costs from your accountant before you agree to anything. Many firms provide the opportunity to spread the cost monthly by direct debit rather than have a large bill at the end of the financial year. It’s also a good idea to ask your accountant if there’s any charge for their advice if you need to call or email them about a specific issue.
• Don’t be afraid to change accountants
As with any other service you shouldn’t feel obligated to stay with your firm of accountants if they’re not meeting your expectations. Just don’t forget to make all the same checks you did initially before you give your business to another accountant.
• Keep your side of the agreement
A good accountant will keep you informed of any paperwork they need from you throughout the course of the year. It’s important to keep your side of the agreement and supply everything they need on time as it’s ultimately your responsibility to meet deadlines for things such as self assessment tax returns.
• Don’t just focus on the cost
Having an accountant is deemed by many individuals and business owners as an unnecessary expense. However, if you focus solely on the monthly or yearly costs, you could be missing out. The professional advice of an accountant could save you paying too much tax every year and can therefore be a very worthwhile investment.