How do I find the right accountant for my business?

Whether you are starting your business or have been running it for years, the right accountant can greatly affect your finances and success. In this article, we explain how choosing an accountant can be a game-changer for your business.

Finding the right accountant for your business is an investment that can pay off significantly in the long run. Accountants can ensure your business is running in the most tax efficient way and provide you with advice and guidance to improve your business.

Using an accountant that provides comprehensive accounting services can enhance your business's financial health and growth. Working with an accountant from the start means that as your business evolves, so does your professional relationship.

Understanding your accounting needs

To find the best accountant for your business, first think about why you need one. Consider what services you are looking for.

An accountant does much more than just crunch numbers. They are essential for managing your financial records, ensuring tax compliance, and providing strategic financial advice. You may be considering an accountant who can handle your bookkeeping, tax return and provide comprehensive business accounting services.

For start up businesses, the temptation to manage finances independently is understandable. However, as your business grows, the financial complexities increase, making the need for an accountant vital. Using an accountant allows you to focus on growth and operations.

When should you use an accountant?

The question of when to use an accountant varies depending on the nature and size of your business. For a start-up business, engaging an accountant from the outset can be beneficial. They can assist with the formation of a company and provide advice on the most tax-efficient business structure. Accountants can also offer you advice and guidance on decisions from the start of your business journey.

For established businesses, using an accountant is crucial when dealing with growth, compliance issues, or planning for expansion. When you are spending too much time on your accounts and tax, it can take away from your business. This could indicate it's time to speak to a local accountant.

Finding an accountant

When searching for an accountant, consider the following factors:

Experience

Ensure the accountant has experience dealing with businesses of your size and industry so they understand any unique challenges. They'll also be able to offer tailored advice that meets your needs.

Local knowledge

Using a local accountant means they know your area well. This helps them give better advice for your business' location. Finding an accountant based near you is beneficial because it is easier to meet in person and stay in contact. It also means they can make useful introductions to other local businesses who might be useful to your company.

Accessibility

A good accountant should be easily accessible and responsive. Having an accountant nearby allows you to meet in person. This helps to build a strong professional relationship and receive helpful advice.

Comprehensive services

From bookkeeping and tax returns to payroll and VAT, finding an accountant who provides a full range of services means your business needs are covered in one place.

Reviews

Reading reviews on Google and TrustPilot can give you a glimpse into the real experiences of other business owners. Speaking to friends, family and other business owners for recommendations is also important in helping your decision.

Approach

Your accountant should be able to explain complex topics in an easy-to-understand way. If things aren’t clear to you, they should always be willing to clarify and make sure you do understand.

What do I do next?

Ready to meet with or change your accountant? Consider contacting TaxAssist Accountants for a free initial consultation. With their diverse experience and commitment to client satisfaction, they are well-equipped to help you. Call today on 020 3941 2011 or use our online contact form.

Last updated: 24th October 2024