Should You Change Your Accountant?

ScotiaAccounting  |  17th August

Every good accountant should have your accounts and tax returns (self assessment, CT600, VAT etc.) filed on time and way before any deadline. That is a given. They should also have the capability to save you tax whether it be by using allowances or knowing the correct expenditure you can claim.

These are the basic fundamentals any business owner should be seeking when looking to take on an accountant. But what else should an accountant do for you? If your current accountant only covers the items stated in the first paragraph of this blog then you should really be asking them to do a bit more or look to find a more proactive accountant.

The main complaint about accountants is that we are an additional cost to business. Compliance work (statutory accounts, tax returns…) is seen as a cost not an investment. So how does a great accountant differentiate themselves from a good accountant and is seen as a worthwhile investment?

Firstly, they must be approachable. You’ll ideally be dealing with your accountant on a quarterly basis if not more so it is vital that they build a rapport with you, give you confidence and make an effort to understand you and your business needs. They need to get on-board with your vision.

Secondly, they must be proactive. Are they up to date with current tax laws, industry legislation (SEE OUR R&D TAX RELIEF BLOG)? Do they offer networking opportunities (SEE OUR CREATING CONNECTIONS BLOG) and workshops (we will be hosting one on the 28th August ) for example? The majority of these should be offered as a complimentary service.

Finally, your accountant works for you and not the other way around. Yes, we have our demands from you as a business owner but ultimately we make time for you and there should be no delays in communicating with you.

If you are looking for an accountant or looking to change accountants ask your business contacts for recommendations. It is an important business decision to make so ensure you have a handful of accountancy firms to meet with. Interview them; find out if they match your drive and motivation and ask what else they can do apart from the basic compliance work.

Needing a proactive accountant? We can help. You can get in touch with us HERE.