Once you’ve decided it’s time to hire an accountant, the next step is to choose which individual or firm to hire. It is important to take time to consider a number of contributing factors when looking. The right person/team should be experienced in saving you both time and money. Here are some tips to help you.
What do you need your accountant to do?
Before hiring, you should first have a basic understanding of what you want them to do. Do you need someone to handle bookkeeping and financial statements? Or someone to prepare and file your taxes? Or both?
A bookkeeper or non-qualified person can help you with the day to day accounting. However if you are looking for someone to provide strategic tax advice, file your tax returns you would be better off having someone qualified. Understanding your needs will help you decide who to chose to work with
Edge Tax offer everything from payroll, company accounts, bookkeeping to tax returns
Do you need an accountant that you can see in person or can your finances be managed online. More and more companies are utilising cloud based work environments, making it easier to hire a remote accountant. If location is not an issue they could be based anywhere in the world, allowing you to focus on experience.
If however your business does not utilise technology or you prefer to conduct meetings etc face to face then you will be limited to accountants who are based near your business or in a reasonable driving distance.
If looking for an accountant based on locations, a quick google ‘accountants near me’ will bring up list of potential new accountants quickly.
Edge Tax are a digital firm, we have clients all over the UK and overseas. For us location is certainly not a problem
Edge Tax highly recommends you choose someone who is recognised by the government and is also regulated by a professional body. Below are some of the UK’s best regarded qualifications:
As with most industries there is the good, the bad, and the ugly when it comes to accountants. Edge Tax are regulated by the Chartered Institute of Taxation and has team members registered with ACCA, AAT and ATT.
What is their pricing structure like. Are they clear about their fees. You may decide to go with a cheap accountant but then discover an abundance of hidden charges you weren’t aware of. When choosing an accountant find one who will explain their pricing structure, clearly and consciously.
We always agree a fixed fee cost with our clients. Fixed fees give you certainty and allow you to plan your cashflow..
Consider how they will help your business to grow
Check with prospective firms to see if they offer advice and support to help your business grow.
Some firms will simply focus on completing the task at hand. They will fill out tax returns and manage your accounts, while others will be more proactive in handling your finances. When you are choosing a firm, you should always ask what recommendations they have for saving your company money.
When choosing an accountant you need to carefully consider if the person/firm you are choosing, will provide the professional advice that will help you make successful long range decisions.
Edge Tax can save you time and money year after year, help to reduce your tax bill and ensure you are compliant. All helping you aim towards your exit strategy.
Referrals and references.
A referral is a great way to find an accountant. A firm or person who has made an impression on someone relevant.
Talk to other business owners about their accountants
Tap into friends, family and social contacts. One of them may know the ideal contact for you.
Seek advice from local business groups like the chambers of commerce.
Once you have your referrals. You have the right to ask to speak to some of their clients. It is appropriate to do due diligence.
Edge Tax are proud of our reviews and are more than happy to connect you with clients to hear it from the ‘horses mouth’ so to speak.
It is important to find a firm who can be an integral member of your team, they have the potential to play a pivotal role in creating your success.
To ensure you select the best accountant for you, take your time be selective. Ultimately you want to chose an accountant who is within your budget, reputable, supports your goals and is committed to helping you scale your business.
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If you would like to discuss how we can help with your accounts or any other tax related please get in touch