When you’re growing your business, choosing an accountant is critical. You need help to ensure the sustainability of your business as well as fulfilling your tax obligations. As your business grows, your tax liability may change, and it is vital to plan so that HMRC does not present you with an unexpectedly large tax bill.
But is it challenging to find a good accountant? You have to consider several important factors, and we’re here to show you how.
Factors to consider to find an accountant
You do not wish to find just an accountant. You want to find the best accountant who fits your business. The accountant should support your vision and goals for your company and show the willingness to grow professionally with you.
Location is essential
Many businesses follow the trend of using virtual or online accountants. Most online service providers are located outside the country. The service may be convenient, but you may encounter unforeseen mistakes and problems, especially if you have a complicated business. Most of the trendy software-based and cloud-based accountants do not perform bookkeeping.
It is better to find an accountant who is located near your business, such as Central London accountants who will provide full bookkeeping services. You can see them in person for consultations and meetings and can engage in detailed discussions, either by a phone call or personal visit.
Look for certified and chartered accountants
You need to be careful when looking for an accountant because they will be handling your finances. So you need an accountant who is qualified and reputable. It is better to look for a certified or chartered accountant who is officially recognized by the local government or professional accounting body. While it is all right to hire an accountant without accreditation, it is better to find a chartered accountant, who can help you qualify for loans for business improvement or handle HMRC investigations.
Accountants have specializations. If you only need an accountant to help you with your tax returns, look for one who has experience helping businesses like yours around your area. Even if you have significant business, you should check the expertise and bookkeeping services any accountant offers. While they may offer remote and cloud-based services, it is still better to find an accountant who is available for in-person discussions.
Make sure that you find an accountant with experience in a similar industry and who has clients larger than your business, as this means that the accountant can guide you in growing your business and handle the increased workload as your business grows.
Ask for recommendations
One of the best options you can take is to ask for recommendations from colleagues that you trust. You can find several ads and posts on social media networks for accountants, including online reviews. But nothing can beat personal recommendations. Using your social network can give you an unbiased review of accountants that can help your business.
The bottom line is, when looking for the right accountant, see to it that they have an extensive experience relevant to your business. The accountant should provide a full bookkeeping service, so errors and inaccuracies are mitigated. Furthermore, look for an accountant whose office is close to your business, instead of one offering online services.